35,126 Shares in WESCO International, Inc. $WCC Acquired by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company acquired 35,126 WESCO International shares worth approximately $12.1 million, representing about 0.07% of the company. Institutional investors and hedge funds collectively own 93.75% of WESCO’s stock.
• Analyst sentiment is broadly positive: one analyst rates WESCO a Strong Buy and eight rate it Buy, with an average price target of $374.29. Several firms recently raised their targets, including DA Davidson, Stephens, Barclays and KeyCorp.
• WESCO exceeded quarterly expectations with adjusted EPS of $4.57 versus a $3.98 consensus and revenue of $6.67 billion. The company also announced a quarterly dividend of $0.50 per share, equal to a 0.6% annualized yield.

The Manufacturers Life Insurance Company acquired a new stake in shares of WESCO International, Inc. (NYSE:WCC - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 35,126 shares of the technology company's stock, valued at approximately $12,134,000. The Manufacturers Life Insurance Company owned approximately 0.07% of WESCO International as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in WCC. Trust Point Inc. raised its holdings in shares of WESCO International by 4.5% during the 2nd quarter. Trust Point Inc. now owns 771 shares of the technology company's stock valued at $266,000 after purchasing an additional 33 shares in the last quarter. Cornerstone Planning Group LLC boosted its holdings in WESCO International by 92.7% in the fourth quarter. Cornerstone Planning Group LLC now owns 106 shares of the technology company's stock worth $26,000 after purchasing an additional 51 shares in the last quarter. Bessemer Group Inc. boosted its holdings in WESCO International by 2.4% in the first quarter. Bessemer Group Inc. now owns 2,214 shares of the technology company's stock worth $606,000 after purchasing an additional 51 shares in the last quarter. Lazard Asset Management LLC increased its position 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 worth $740,000 after buying an additional 54 shares during the last quarter. Finally, Parallel Advisors LLC increased its position in WESCO International by 11.5% during the fourth quarter. Parallel Advisors LLC now owns 581 shares of the technology company's stock worth $142,000 after buying an additional 60 shares during the last quarter. 93.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have weighed in on WCC. DA Davidson started coverage on WESCO International in a research report on Tuesday, June 16th. They issued a "buy" rating and a $440.00 price target for the company. Weiss Ratings raised WESCO International from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, August 17th. Stephens raised WESCO International from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $350.00 to $400.00 in a research note on Tuesday, July 14th. Barclays boosted their target price on WESCO International from $376.00 to $390.00 and gave the stock an "overweight" rating in a report on Monday, August 3rd. Finally, KeyCorp upped their target price on WESCO International from $340.00 to $415.00 and gave the stock an "overweight" rating in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $374.29.

WESCO International Stock Down 4.1%

WESCO International stock opened at $336.34 on Friday. The firm has a market cap of $16.39 billion, a price-to-earnings ratio of 23.24, a P/E/G ratio of 2.09 and a beta of 1.54. 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, Inc. has a fifty-two week low of $203.40 and a fifty-two week high of $385.37. The firm has a fifty day moving average price of $342.01 and a two-hundred day moving average price of $323.99.

WESCO International (NYSE:WCC - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The technology company reported $4.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.98 by $0.59. The company had revenue of $6.67 billion for the quarter, compared to the consensus estimate of $6.44 billion. WESCO International had a return on equity of 14.95% and a net margin of 2.84%.The firm's revenue was up 13.0% compared to the same quarter last year. During the same period last year, the business posted $3.83 earnings per share. WESCO International has set its FY 2026 guidance at 16.000-17.500 EPS. As a group, analysts forecast that WESCO International, Inc. will post 16.77 earnings per share 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 issued a $0.50 dividend. The ex-dividend date of this dividend 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 13.82%.

Insiders Place Their Bets

In other WESCO International news, EVP Daniel J. Castillo purchased 960 shares of the business's stock in a transaction dated Tuesday, August 4th. The stock was bought 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 directly owned 16,305 shares in the company, valued at $5,965,836.45. This represents a 6.26% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Laura K. Thompson sold 270 shares of the stock in a transaction that occurred on 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 sale, 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. Company insiders own 2.60% of the company's stock.

WESCO International Company Profile

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.

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