Bank of New York Mellon Corp Buys 36,843 Shares of WESCO International, Inc. $WCC

Bank of New York Mellon Corp increased its stake in shares of WESCO International, Inc. (NYSE:WCC) by 4.9% in the second quarter, Holdings Channel.com reports. The firm owned 795,629 shares of the technology company’s stock after buying an additional 36,843 shares during the quarter. Bank of New York Mellon Corp’s holdings in WESCO International were worth $147,351,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. TD Private Client Wealth LLC grew its stake in shares of 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 buying an additional 1,932 shares during the last quarter. Greenleaf Trust boosted its holdings in shares of WESCO International by 3.7% during the 1st quarter. Greenleaf Trust now owns 2,360 shares of the technology company’s stock valued at $367,000 after acquiring an additional 84 shares in the last quarter. Whittier Trust Co. grew its position in WESCO International by 46.8% during the 1st quarter. Whittier Trust Co. now owns 279 shares of the technology company’s stock worth $43,000 after acquiring an additional 89 shares during the last quarter. Burns Matteson Capital Management LLC increased its holdings in WESCO International by 7.1% in the 1st quarter. Burns Matteson Capital Management LLC now owns 2,307 shares of the technology company’s stock worth $358,000 after purchasing an additional 153 shares in the last quarter. Finally, KLP Kapitalforvaltning AS raised its position in WESCO International by 6.1% in the first quarter. KLP Kapitalforvaltning AS now owns 12,086 shares of the technology company’s stock valued at $1,877,000 after purchasing an additional 700 shares during the last quarter. Institutional investors and hedge funds own 93.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on WCC. Loop Capital boosted their price target on WESCO International from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Tuesday, August 5th. Wall Street Zen raised shares of WESCO International from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Oppenheimer upped their price target on shares of WESCO International from $225.00 to $255.00 and gave the company an “outperform” rating in a research report on Friday, September 5th. JPMorgan Chase & Co. lifted their price target on shares of WESCO International from $225.00 to $245.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Finally, Stephens cut shares of WESCO International from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $190.00 to $200.00 in a research note on Wednesday, July 16th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $248.89.

Insider Buying and Selling

In related news, EVP Nelson John Squires III sold 13,780 shares of the company’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $219.59, for a total transaction of $3,025,950.20. Following the sale, the executive vice president owned 48,625 shares in the company, valued at $10,677,563.75. This represents a 22.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO David S. Schulz sold 12,227 shares of WESCO International stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $225.17, for a total value of $2,753,153.59. Following the completion of the sale, the chief financial officer owned 110,376 shares of the company’s stock, valued at approximately $24,853,363.92. The trade was a 9.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 147,692 shares of company stock worth $33,353,812 over the last three months. Insiders own 3.30% of the company’s stock.

WESCO International Stock Up 0.3%

WESCO International stock opened at $257.25 on Friday. The firm has a market cap of $12.52 billion, a price-to-earnings ratio of 20.14, a PEG ratio of 1.77 and a beta of 1.79. WESCO International, Inc. has a 52-week low of $125.21 and a 52-week high of $263.37. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.19 and a current ratio of 2.09. The firm has a 50 day moving average price of $221.31 and a two-hundred day moving average price of $198.88.

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

WESCO International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders 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 dividend yield of 0.7%. WESCO International’s dividend payout ratio (DPR) is 14.20%.

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).