Handelsbanken Fonder AB Buys 300 Shares of WESCO International, Inc. (NYSE:WCC)

Posted by Defense World Staff on May 5th, 2023

Handelsbanken Fonder AB lifted its stake in WESCO International, Inc. (NYSE:WCC – Get Rating) by 3.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,193 shares of the technology company’s stock after purchasing an additional 300 shares during the quarter. Handelsbanken Fonder AB’s holdings in WESCO International were worth $1,026,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in WCC. SG Americas Securities LLC bought a new position in WESCO International in the 4th quarter valued at approximately $156,000. Farmers & Merchants Investments Inc. lifted its holdings in shares of WESCO International by 7.2% during the 4th quarter. Farmers & Merchants Investments Inc. now owns 187,433 shares of the technology company’s stock valued at $23,467,000 after buying an additional 12,640 shares during the period. Knights of Columbus Asset Advisors LLC lifted its holdings in shares of WESCO International by 25.4% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 13,286 shares of the technology company’s stock valued at $1,663,000 after buying an additional 2,690 shares during the period. New York State Common Retirement Fund lifted its holdings in shares of WESCO International by 4.4% during the 4th quarter. New York State Common Retirement Fund now owns 58,708 shares of the technology company’s stock valued at $7,350,000 after buying an additional 2,486 shares during the period. Finally, J. L. Bainbridge & Co. Inc. bought a new position in shares of WESCO International during the 4th quarter valued at $10,560,000. 94.02% of the stock is owned by institutional investors.

WESCO International Stock Performance

Shares of NYSE:WCC opened at $122.87 on Friday. The firm has a market cap of $6.28 billion, a PE ratio of 8.01, a price-to-earnings-growth ratio of 0.82 and a beta of 1.95. The firm’s 50 day simple moving average is $147.86 and its 200-day simple moving average is $138.98. WESCO International, Inc. has a one year low of $99.00 and a one year high of $175.00. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.27 and a current ratio of 2.18.

WESCO International (NYSE:WCC – Get Rating) last issued its earnings results on Tuesday, February 14th. The technology company reported $4.13 EPS for the quarter, topping analysts’ consensus estimates of $3.81 by $0.32. The business had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.38 billion. WESCO International had a net margin of 4.02% and a return on equity of 21.61%. The company’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same period last year, the company posted $3.17 earnings per share. As a group, equities analysts predict that WESCO International, Inc. will post 17.54 EPS for the current year.

WESCO International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 31st. Shareholders of record on Wednesday, March 15th were issued a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 1.22%. The ex-dividend date was Tuesday, March 14th. WESCO International’s dividend payout ratio is currently 9.78%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Oppenheimer increased their price target on WESCO International from $175.00 to $200.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 15th. StockNews.com started coverage on shares of WESCO International in a report on Thursday, March 16th. They issued a “hold” rating for the company. Raymond James increased their price target on shares of WESCO International from $190.00 to $200.00 and gave the company a “strong-buy” rating in a report on Wednesday, February 15th. Robert W. Baird increased their price target on shares of WESCO International from $170.00 to $189.00 and gave the company a “neutral” rating in a report on Wednesday, February 15th. Finally, KeyCorp increased their price target on shares of WESCO International from $165.00 to $195.00 and gave the company an “overweight” rating in a report on Wednesday, February 15th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $191.50.

Insider Transactions at WESCO International

In other WESCO International news, CEO John Engel sold 66,120 shares of WESCO International stock in a transaction on Wednesday, February 22nd. The shares were sold at an average price of $161.78, for a total value of $10,696,893.60. Following the completion of the transaction, the chief executive officer now owns 421,923 shares of the company’s stock, valued at $68,258,702.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Diane Lazzaris sold 10,748 shares of the company’s stock in a transaction dated Wednesday, February 22nd. The shares were sold at an average price of $161.56, for a total transaction of $1,736,446.88. Following the completion of the sale, the executive vice president now owns 56,172 shares of the company’s stock, valued at approximately $9,075,148.32. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO John Engel sold 66,120 shares of the company’s stock in a transaction dated Wednesday, February 22nd. The shares were sold at an average price of $161.78, for a total transaction of $10,696,893.60. Following the sale, the chief executive officer now directly owns 421,923 shares of the company’s stock, valued at approximately $68,258,702.94. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 105,532 shares of company stock worth $17,217,762. Company insiders own 2.60% of the company’s stock.

WESCO International Profile

(Get Rating)

WESCO International, Inc is a holding company, which engages in the provision of electrical, industrial, communications maintenance, repair and operating, and original equipment manufacturer products. It also offers construction materials, and supply chain management and logistics services. Its product categories include general supplies, wire, cable and conduit, communications and security, electrical distribution and controls, lighting and sustainability, and automation, controls, and motors.