Engineers Gate Manager LP Makes New $8.34 Million Investment in WESCO International, Inc. $WCC

Engineers Gate Manager LP purchased a new stake in WESCO International, Inc. (NYSE:WCC) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 24,138 shares of the technology company’s stock, valued at approximately $8,338,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its position in shares of WESCO International by 95.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 753 shares of the technology company’s stock valued at $139,000 after acquiring an additional 368 shares in the last quarter. Gamco Investors INC. ET AL acquired a new position in WESCO International in the second quarter worth about $573,000. California State Teachers Retirement System raised its position in WESCO International by 0.8% in the second quarter. California State Teachers Retirement System now owns 45,604 shares of the technology company’s stock worth $8,446,000 after purchasing an additional 365 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in WESCO International by 516.8% during the second quarter. BNP Paribas Financial Markets now owns 41,354 shares of the technology company’s stock worth $7,659,000 after purchasing an additional 34,649 shares during the period. Finally, Lazard Asset Management LLC boosted its holdings in WESCO International by 1.4% during the second quarter. Lazard Asset Management LLC now owns 4,006 shares of the technology company’s stock valued at $740,000 after purchasing an additional 54 shares in the last quarter. 93.75% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Akash Khurana sold 3,400 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $366.78, for a total value of $1,247,052.00. Following the completion of the sale, the executive vice president directly owned 27,404 shares in the company, valued at approximately $10,051,239.12. This trade represents a 11.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Laura Thompson sold 270 shares of WESCO International stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $368.45, for a total value of $99,481.50. Following the completion of the transaction, the director directly owned 10,720 shares of the company’s stock, valued at $3,949,784. This represents a 2.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on WCC shares. Stephens raised WESCO International from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $350.00 to $400.00 in a report on Tuesday, July 14th. DA Davidson began coverage on WESCO International in a research note on Tuesday, June 16th. They issued a “buy” rating and a $440.00 price target on the stock. Zacks Research upgraded WESCO International from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 3rd. Royal Bank Of Canada lifted their price objective on WESCO International from $421.00 to $430.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Finally, Wall Street Zen downgraded shares of WESCO International from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, WESCO International currently has an average rating of “Buy” and an average target price of $394.17.

WESCO International Stock Performance

NYSE:WCC opened at $344.13 on Friday. WESCO International, Inc. has a 1 year low of $203.40 and a 1 year high of $385.37. The firm has a 50 day moving average of $342.28 and a 200-day moving average of $327.01. The company has a current ratio of 2.09, a quick ratio of 1.23 and a debt-to-equity ratio of 1.13. The stock has a market capitalization of $16.77 billion, a P/E ratio of 23.78, a price-to-earnings-growth ratio of 2.11 and a beta of 1.53.

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

WESCO International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 11th will be issued a dividend of $0.50 per share. 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 presently 13.82%.

WESCO International 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.