Hsbc Holdings PLC Increases Position in WESCO International, Inc. $WCC

Hsbc Holdings PLC grew its holdings in WESCO International, Inc. (NYSE:WCC) by 1,185.8% during the second quarter, HoldingsChannel reports. The firm owned 25,202 shares of the technology company’s stock after acquiring an additional 23,242 shares during the period. Hsbc Holdings PLC’s holdings in WESCO International were worth $8,745,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vaughan Nelson Investment Management L.P. grew its position in shares of WESCO International by 8.4% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 404,730 shares of the technology company’s stock valued at $110,742,000 after purchasing an additional 31,210 shares in the last quarter. Geode Capital Management LLC boosted its stake in WESCO International by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 864,237 shares of the technology company’s stock worth $211,473,000 after buying an additional 14,739 shares during the last quarter. BlackRock Inc. purchased a new stake in WESCO International in the 2nd quarter valued at $3,094,634,000. Van Lanschot Kempen Investment Management N.V. increased its stake in shares of WESCO International by 74.8% in the 4th quarter. Van Lanschot Kempen Investment Management N.V. now owns 186,012 shares of the technology company’s stock worth $45,506,000 after acquiring an additional 79,612 shares during the last quarter. Finally, Algert Global LLC increased its stake in shares of WESCO International by 103.3% in the 2nd quarter. Algert Global LLC now owns 65,146 shares of the technology company’s stock worth $22,503,000 after acquiring an additional 33,109 shares during the last quarter. 93.75% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other WESCO International news, Director Laura K. Thompson sold 270 shares of the company’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $368.45, for a total transaction of $99,481.50. Following the transaction, the director directly owned 10,720 shares in the company, valued at $3,949,784. This represents a 2.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Daniel J. Castillo purchased 960 shares of the stock in a transaction dated Tuesday, August 4th. The shares were purchased at an average price of $365.89 per share, with a total value of $351,254.40. Following the completion of the transaction, the executive vice president owned 16,305 shares of the company’s stock, valued at approximately $5,965,836.45. This trade represents a 6.26% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 2.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on WCC shares. Stephens raised shares of WESCO International from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $350.00 to $400.00 in a research report on Tuesday, July 14th. Royal Bank Of Canada raised their price objective on shares of WESCO International from $421.00 to $430.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Barclays boosted their target price on shares of WESCO International from $376.00 to $390.00 and gave the company an “overweight” rating in a report on Monday, August 3rd. DA Davidson assumed coverage on shares of WESCO International in a research note on Tuesday, June 16th. They issued a “buy” rating and a $440.00 price target for the company. Finally, Weiss Ratings downgraded shares of WESCO International from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, September 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, WESCO International presently has a consensus rating of “Buy” and a consensus price target of $394.17.

WESCO International Stock Performance

NYSE WCC opened at $355.83 on Thursday. The stock has a market cap of $17.34 billion, a PE ratio of 24.59, a P/E/G ratio of 2.13 and a beta of 1.53. The company has a current ratio of 2.09, a quick ratio of 1.23 and a debt-to-equity ratio of 1.13. WESCO International, Inc. has a twelve month low of $203.40 and a twelve month high of $385.37. The stock has a fifty day simple moving average of $341.57 and a 200-day simple moving average of $326.68.

WESCO International (NYSE:WCC) last issued its quarterly earnings data on Thursday, July 30th. The technology company reported $4.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.98 by $0.59. WESCO International had a net margin of 2.84% and a return on equity of 14.95%. The firm had revenue of $6.67 billion for the quarter, compared to analyst estimates of $6.44 billion. During the same period in the previous year, the firm earned $3.83 EPS. WESCO International’s revenue was up 13.0% on a year-over-year basis. WESCO International has set its FY 2026 guidance at 16.000-17.500 EPS. Equities analysts anticipate that WESCO International, Inc. will post 16.89 earnings per share for the current year.

WESCO International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 11th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Friday, September 11th. WESCO International’s dividend payout ratio is currently 13.82%.

WESCO International Company Profile

WESCO International, Inc is a business-to-business distributor and supply chain solutions provider serving the electrical, communications, security, utility and broadband industries. The company supplies products such as electrical and electronic components, wire and cable, lighting, automation equipment, network infrastructure, security systems, safety products and utility equipment.

Through its distribution operations and supply chain services, WESCO helps commercial, industrial, institutional, utility and government customers manage procurement, inventory, logistics and other aspects of their operations.