Bessemer Group Inc. Acquires 818 Shares of WESCO International, Inc. $WCC

Bessemer Group Inc. boosted its holdings in shares of WESCO International, Inc. (NYSE:WCC) by 60.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,163 shares of the technology company’s stock after buying an additional 818 shares during the period. Bessemer Group Inc.’s holdings in WESCO International were worth $400,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Whittier Trust Co. lifted its stake in WESCO International by 46.8% during the first quarter. Whittier Trust Co. now owns 279 shares of the technology company’s stock worth $43,000 after purchasing an additional 89 shares during the last quarter. GAMMA Investing LLC lifted its stake in WESCO International by 27.7% during the first quarter. GAMMA Investing LLC now owns 479 shares of the technology company’s stock worth $74,000 after purchasing an additional 104 shares during the last quarter. Parallel Advisors LLC lifted its stake in WESCO International by 13.4% during the second quarter. Parallel Advisors LLC now owns 507 shares of the technology company’s stock worth $94,000 after purchasing an additional 60 shares during the last quarter. Applied Finance Capital Management LLC bought a new stake in WESCO International during the second quarter worth about $227,000. Finally, TD Private Client Wealth LLC lifted its stake in WESCO International by 4,600.0% during the first quarter. TD Private Client Wealth LLC now owns 1,974 shares of the technology company’s stock worth $307,000 after purchasing an additional 1,932 shares during the last quarter. Institutional investors own 93.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. increased their price objective on WESCO International from $225.00 to $245.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. Wall Street Zen upgraded shares of WESCO International from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Stephens lowered shares of WESCO International from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $190.00 to $200.00 in a report on Wednesday, July 16th. KeyCorp boosted their price objective on shares of WESCO International from $258.00 to $300.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Barclays initiated coverage on shares of WESCO International in a report on Wednesday, October 8th. They set an “overweight” rating and a $258.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $248.89.

WESCO International Stock Performance

Shares of WCC opened at $259.70 on Monday. The company has a quick ratio of 1.19, a current ratio of 2.09 and a debt-to-equity ratio of 1.19. The business’s 50 day moving average price is $218.86 and its 200-day moving average price is $196.57. WESCO International, Inc. has a 52 week low of $125.21 and a 52 week high of $263.37. The stock has a market cap of $12.64 billion, a P/E ratio of 20.34, a P/E/G ratio of 1.77 and a beta of 1.79.

WESCO International (NYSE:WCC) last released its quarterly earnings data on Thursday, October 30th. The technology company reported $3.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.75 by $0.17. The business had revenue of $6.20 billion for the quarter, compared to analysts’ expectations of $5.91 billion. WESCO International had a return on equity of 12.96% and a net margin of 2.98%.The firm’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the prior year, the firm posted $3.58 EPS. WESCO International has set its FY 2025 guidance at 13.100-13.600 EPS. Equities research analysts anticipate that WESCO International, Inc. will post 13.3 earnings per share for the current fiscal year.

WESCO International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Friday, September 12th were given a $0.4538 dividend. The ex-dividend date of this dividend was Friday, September 12th. This represents a $1.82 annualized dividend and a yield of 0.7%. WESCO International’s dividend payout ratio is 14.20%.

Insiders Place Their Bets

In related news, CEO John Engel sold 51,051 shares of the company’s stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $226.17, for a total value of $11,546,204.67. Following the transaction, the chief executive officer directly owned 475,971 shares of the company’s stock, valued at approximately $107,650,361.07. This represents a 9.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Nelson John Squires III sold 13,780 shares of the company’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $219.59, for a total value of $3,025,950.20. Following the completion of the transaction, the executive vice president directly owned 48,625 shares in the company, valued at $10,677,563.75. This trade represents a 22.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 136,131 shares of company stock worth $30,384,421 in the last three months. Corporate insiders own 3.30% of the company’s stock.

WESCO International Company 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).