AEGON ASSET MANAGEMENT UK Plc Reduces Holdings in WESCO International, Inc. $WCC

Key Points

• AEGON Asset Management UK cut its WESCO International stake by 27.5% in the first quarter, selling 40,220 shares and leaving it with 105,965 shares worth about $29 million.
• Several institutional investors and hedge funds adjusted their positions in WESCO, and the company remains heavily owned by institutions at 93.75% of outstanding shares.
• WESCO reported strong quarterly results, beating earnings and revenue estimates, while analysts have largely turned bullish with a consensus Buy rating and multiple raised price targets. The company also declared a quarterly dividend of $0.50 per share.

AEGON ASSET MANAGEMENT UK Plc trimmed its holdings in shares of WESCO International, Inc. (NYSE:WCC - Free Report) by 27.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 105,965 shares of the technology company's stock after selling 40,220 shares during the quarter. AEGON ASSET MANAGEMENT UK Plc owned approximately 0.22% of WESCO International worth $28,978,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. EverSource Wealth Advisors LLC boosted its stake in shares of WESCO International by 95.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 753 shares of the technology company's stock worth $139,000 after acquiring an additional 368 shares during the last quarter. Gamco Investors INC. ET AL purchased a new stake in shares of WESCO International in the 2nd quarter worth $573,000. California State Teachers Retirement System increased its stake in shares of WESCO International by 0.8% in the 2nd quarter. California State Teachers Retirement System now owns 45,604 shares of the technology company's stock worth $8,446,000 after purchasing an additional 365 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in WESCO International by 516.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 41,354 shares of the technology company's stock worth $7,659,000 after purchasing an additional 34,649 shares during the period. Finally, Lazard Asset Management LLC raised its holdings in WESCO International by 1.4% in the 2nd quarter. Lazard Asset Management LLC now owns 4,006 shares of the technology company's stock worth $740,000 after purchasing an additional 54 shares during the period. 93.75% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Diane Lazzaris sold 9,910 shares of WESCO International stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $359.48, for a total transaction of $3,562,446.80. Following the sale, the executive vice president owned 19,611 shares of the company's stock, valued at approximately $7,049,762.28. This trade represents a 33.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Akash Khurana sold 4,000 shares of the business's stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $359.13, for a total value of $1,436,520.00. Following the completion of the transaction, the executive vice president directly owned 30,775 shares in the company, valued at approximately $11,052,225.75. This represents a 11.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 144,486 shares of company stock valued at $51,846,641 in the last three months. 2.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

WCC has been the subject of several recent research reports. Royal Bank Of Canada boosted their price target on WESCO International from $352.00 to $411.00 and gave the company an "outperform" rating in a report on Friday, May 1st. Stephens raised their price objective on WESCO International from $275.00 to $350.00 and gave the stock an "equal weight" rating in a research note on Monday, May 4th. KeyCorp lifted their price objective on WESCO International from $340.00 to $415.00 and gave the company an "overweight" rating in a research report on Friday, May 1st. DA Davidson started coverage on WESCO International in a research note on Tuesday, June 16th. They set a "buy" rating and a $440.00 price objective for the company. Finally, Weiss Ratings upgraded WESCO International from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $334.56.

WESCO International Stock Up 0.1%

WCC opened at $365.78 on Friday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.22 and a current ratio of 2.12. WESCO International, Inc. has a fifty-two week low of $175.05 and a fifty-two week high of $377.90. The firm's fifty day moving average is $343.73 and its 200 day moving average is $299.44. The stock has a market cap of $17.82 billion, a price-to-earnings ratio of 26.00, a price-to-earnings-growth ratio of 2.29 and a beta of 1.53.

WESCO International (NYSE:WCC - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The technology company reported $3.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.88 by $0.49. The business had revenue of $6.08 billion during the quarter, compared to analyst estimates of $5.86 billion. WESCO International had a return on equity of 13.82% and a net margin of 2.79%.WESCO International's revenue for the quarter was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.21 EPS. WESCO International has set its FY 2026 guidance at 15.000-17.000 EPS. On average, sell-side analysts forecast that WESCO International, Inc. will post 15.94 earnings per share for the current fiscal year.

WESCO International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 12th will be given a dividend of $0.50 per share. The ex-dividend date is Friday, June 12th. This represents a $2.00 annualized dividend and a dividend yield of 0.5%. WESCO International's dividend payout ratio (DPR) is currently 14.21%.

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.

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