Formula Growth Ltd. Acquires Shares of 2,300 WESCO International, Inc. $WCC

Formula Growth Ltd. purchased a new stake in WESCO International, Inc. (NYSE:WCC) during the second quarter, according to its most recent filing with the SEC. The fund purchased 2,300 shares of the technology company’s stock, valued at approximately $794,000.

Several other hedge funds have also bought and sold shares of WCC. Coastal Bridge Advisors LLC bought a new stake in WESCO International in the 2nd quarter worth approximately $3,074,000. Jefferies Financial Group Inc. bought a new position in shares of WESCO International during the 2nd quarter valued at approximately $654,000. Public Employees Retirement System of Ohio bought a new position in shares of WESCO International during the 2nd quarter valued at approximately $24,985,000. Proficio Capital Partners LLC purchased a new position in shares of WESCO International in the second quarter valued at $281,000. Finally, Transamerica Financial Advisors LLC bought a new stake in WESCO International in the second quarter worth $27,000. Hedge funds and other institutional investors own 93.75% of the company’s stock.

WESCO International Stock Up 1.0%

Shares of NYSE:WCC opened at $351.00 on Friday. The firm has a market capitalization of $17.10 billion, a PE ratio of 24.26, a price-to-earnings-growth ratio of 2.07 and a beta of 1.54. The business has a 50 day simple moving average of $342.60 and a two-hundred day simple moving average of $323.90. WESCO International, Inc. has a 1 year low of $203.40 and a 1 year high of $385.37. The company has a debt-to-equity ratio of 1.13, a current ratio of 2.09 and a quick ratio of 1.23.

WESCO International (NYSE:WCC) last issued its quarterly earnings results on Thursday, July 30th. The technology company reported $4.57 earnings per share for the quarter, topping the consensus estimate of $3.98 by $0.59. WESCO International had a return on equity of 14.95% and a net margin of 2.84%.The firm had revenue of $6.67 billion for the quarter, compared to the consensus estimate of $6.44 billion. During the same period in the prior year, the business posted $3.83 earnings per share. The company’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. On average, equities analysts predict that WESCO International, Inc. will post 16.77 EPS for the current year.

WESCO International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 11th will be paid a $0.50 dividend. The ex-dividend date is Friday, September 11th. This represents a $2.00 dividend on an annualized basis and a yield of 0.6%. WESCO International’s dividend payout ratio (DPR) is presently 13.82%.

Analysts Set New Price Targets

Several equities analysts have commented on WCC shares. Wall Street Zen lowered shares of WESCO International from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Royal Bank Of Canada boosted their target price on shares of WESCO International from $421.00 to $430.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Stephens upgraded shares of WESCO International from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $350.00 to $400.00 in a research report on Tuesday, July 14th. DA Davidson initiated coverage on shares of WESCO International in a report on Tuesday, June 16th. They issued a “buy” rating and a $440.00 price target for the company. Finally, Zacks Research upgraded WESCO International from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $374.29.

Insiders Place Their Bets

In related news, EVP Daniel J. Castillo purchased 960 shares of the business’s stock in a transaction dated Tuesday, August 4th. The shares were purchased at an average cost of $365.89 per share, for a total transaction of $351,254.40. Following the completion of the acquisition, the executive vice president owned 16,305 shares in the company, valued at approximately $5,965,836.45. This trade represents a 6.26% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Laura K. Thompson sold 270 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $368.45, for a total transaction of $99,481.50. Following the completion of 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 position. The SEC filing for this sale provides additional information. Insiders own 2.60% of the company’s stock.

About WESCO International

WESCO International, Inc is a leading global distributor of electrical, industrial, communications and utility products, serving a diverse customer base across maintenance, repair and operations (MRO), original equipment manufacturing (OEM) and construction markets. The company offers a comprehensive portfolio of products ranging from power distribution and automation solutions to data communications, security systems and lighting controls. Through an extensive branch network, WESCO provides critical components and value‐added services that help organizations streamline operations and improve reliability in their facilities and infrastructure.

In addition to its broad product offering, WESCO delivers advanced supply chain management and logistics solutions designed to optimize inventory levels, reduce downtime and lower overall procurement costs.