Gabelli Funds LLC Boosts Holdings in WESCO International, Inc. $WCC

Gabelli Funds LLC increased its position in WESCO International, Inc. (NYSE:WCC) by 51.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,390 shares of the technology company’s stock after purchasing an additional 5,540 shares during the quarter. Gabelli Funds LLC’s holdings in WESCO International were worth $3,035,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its holdings in WESCO International by 4.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 795,629 shares of the technology company’s stock worth $147,351,000 after buying an additional 36,843 shares in the last quarter. River Road Asset Management LLC grew its stake in shares of WESCO International by 56.0% during the second quarter. River Road Asset Management LLC now owns 605,918 shares of the technology company’s stock valued at $112,216,000 after acquiring an additional 217,417 shares in the last quarter. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of WESCO International during the second quarter worth about $75,136,000. Ameriprise Financial Inc. lifted its stake in shares of WESCO International by 21.2% in the first quarter. Ameriprise Financial Inc. now owns 309,081 shares of the technology company’s stock worth $48,001,000 after acquiring an additional 54,046 shares in the last quarter. Finally, Davis Selected Advisers boosted its holdings in WESCO International by 12.5% in the second quarter. Davis Selected Advisers now owns 290,746 shares of the technology company’s stock valued at $53,846,000 after purchasing an additional 32,243 shares during the last quarter. 93.75% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Oppenheimer upped their target price on WESCO International from $225.00 to $255.00 and gave the company an “outperform” rating in a research report on Friday, September 5th. Weiss Ratings restated a “hold (c+)” rating on shares of WESCO International in a research note on Wednesday, October 8th. KeyCorp increased their price objective on shares of WESCO International from $258.00 to $300.00 and gave the company an “overweight” rating in a research note on Friday, October 31st. Wall Street Zen lowered shares of WESCO International from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Finally, JPMorgan Chase & Co. upped their target price on shares of WESCO International from $225.00 to $245.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $256.38.

WESCO International Stock Up 4.0%

WCC stock opened at $276.44 on Thursday. The firm has a market cap of $13.45 billion, a price-to-earnings ratio of 21.68, a PEG ratio of 2.00 and a beta of 1.47. WESCO International, Inc. has a 1-year low of $125.21 and a 1-year high of $277.94. The firm has a fifty day moving average price of $243.80 and a two-hundred day moving average price of $215.60. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.09 and a quick ratio of 1.20.

WESCO International (NYSE:WCC) last posted its quarterly earnings results on Thursday, October 30th. The technology company reported $3.92 EPS for the quarter, beating the consensus estimate of $3.75 by $0.17. WESCO International had a net margin of 2.81% and a return on equity of 13.12%. The business had revenue of $6.20 billion during the quarter, compared to analyst estimates of $5.91 billion. During the same period in the previous year, the business posted $3.58 EPS. The company’s quarterly revenue was up 12.9% on a year-over-year basis. WESCO International has set its FY 2025 guidance at 13.100-13.600 EPS. Research analysts predict that WESCO International, Inc. will post 13.3 EPS for the current year.

WESCO International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Friday, December 12th will be paid a dividend of $0.4538 per share. This represents a $1.82 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Friday, December 12th. WESCO International’s dividend payout ratio is presently 14.27%.

Insiders Place Their Bets

In other news, EVP Christine Ann Wolf sold 4,685 shares of the business’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $259.52, for a total transaction of $1,215,851.20. Following the completion of the transaction, the executive vice president owned 30,195 shares of the company’s stock, valued at approximately $7,836,206.40. The trade was a 13.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Diane Lazzaris sold 4,039 shares of the company’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $258.42, for a total transaction of $1,043,758.38. Following the transaction, the executive vice president owned 45,401 shares of the company’s stock, valued at $11,732,526.42. This represents a 8.17% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 17,036 shares of company stock valued at $4,385,254 over the last three months. Company insiders own 3.30% of the company’s stock.

WESCO International Profile

WESCO International, Inc provides business-to-business distribution, logistics services, and supply chain solutions in the United States, Canada, and internationally. It operates through three segments: Electrical & Electronic Solutions (EES), Communications & Security Solutions (CSS), and Utility and Broadband Solutions (UBS).