Diamond Hill Capital Management Inc. Sells 387,787 Shares of WESCO International, Inc. $WCC

Key Points

• Diamond Hill Capital Management cut its WESCO International stake by 68.7% in Q4, selling 387,787 shares and leaving it with 176,737 shares worth about $43.2 million.
• WESCO reported strong quarterly results, with EPS of $3.37 beating estimates by $0.49 and revenue of $6.08 billion topping expectations; revenue also rose 13.8% year over year.
• Analysts remain upbeat on the stock, with several firms raising price targets and the consensus rating staying at Buy; meanwhile, WESCO also increased its quarterly dividend to $0.50 per share.

Diamond Hill Capital Management Inc. cut its holdings in shares of WESCO International, Inc. (NYSE:WCC - Free Report) by 68.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 176,737 shares of the technology company's stock after selling 387,787 shares during the quarter. Diamond Hill Capital Management Inc. owned approximately 0.36% of WESCO International worth $43,237,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC boosted its stake in WESCO International by 92.7% in the 4th quarter. Cornerstone Planning Group LLC now owns 106 shares of the technology company's stock worth $26,000 after purchasing an additional 51 shares during the period. Torren Management LLC bought a new position in WESCO International in the 4th quarter worth approximately $32,000. Brown Brothers Harriman & Co. boosted its stake in WESCO International by 166.0% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 133 shares of the technology company's stock worth $28,000 after purchasing an additional 83 shares during the period. Rothschild Investment LLC boosted its stake in WESCO International by 788.2% in the 3rd quarter. Rothschild Investment LLC now owns 151 shares of the technology company's stock worth $32,000 after purchasing an additional 134 shares during the period. Finally, Root Financial Partners LLC bought a new position in WESCO International in the 3rd quarter worth approximately $37,000. Institutional investors own 93.75% of the company's stock.

WESCO International Stock Performance

Shares of WESCO International stock opened at $354.63 on Friday. WESCO International, Inc. has a 12 month low of $161.70 and a 12 month high of $374.00. The stock's fifty day moving average price is $305.46 and its 200-day moving average price is $284.70. The firm has a market cap of $17.27 billion, a P/E ratio of 25.20, a P/E/G ratio of 2.20 and a beta of 1.54. The company has a current ratio of 2.12, a quick ratio of 1.22 and a debt-to-equity ratio of 1.13.

WESCO International (NYSE:WCC - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The technology company reported $3.37 earnings per share for the quarter, beating analysts' consensus estimates of $2.88 by $0.49. WESCO International had a return on equity of 13.82% and a net margin of 2.79%.The company had revenue of $6.08 billion for the quarter, compared to the consensus estimate of $5.86 billion. During the same quarter last year, the company earned $2.21 earnings per share. The firm's revenue for the quarter was up 13.8% compared to the same quarter last year. WESCO International has set its FY 2026 guidance at 15.000-17.000 EPS. On average, equities research analysts expect that WESCO International, Inc. will post 15.9 earnings per share for the current fiscal year.

WESCO International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Friday, March 13th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, March 13th. This is an increase from WESCO International's previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a yield of 0.6%. WESCO International's dividend payout ratio is 14.21%.

Insider Activity at WESCO International

In related news, EVP Hemant Porwal sold 4,445 shares of the firm's stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $363.21, for a total transaction of $1,614,468.45. Following the sale, the executive vice president owned 16,618 shares of the company's stock, valued at $6,035,823.78. This trade represents a 21.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Christine Ann Wolf sold 2,549 shares of the firm's stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $355.25, for a total value of $905,532.25. Following the sale, the executive vice president directly owned 29,570 shares in the company, valued at approximately $10,504,742.50. The trade was a 7.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 144,486 shares of company stock valued at $51,846,641 over the last 90 days. Company insiders own 2.60% of the company's stock.

Wall Street Analysts Forecast Growth

WCC has been the subject of a number of research reports. Royal Bank Of Canada increased their target price on WESCO International from $352.00 to $411.00 and gave the company an "outperform" rating in a research report on Friday, May 1st. KeyCorp increased their target price on WESCO International from $340.00 to $415.00 and gave the company an "overweight" rating in a research report on Friday, May 1st. Weiss Ratings upgraded WESCO International from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, May 4th. Barclays increased their target price on WESCO International from $313.00 to $375.00 and gave the company an "overweight" rating in a research report on Monday, May 4th. Finally, Stephens increased their price target on WESCO International from $275.00 to $350.00 and gave the company an "equal weight" rating in a report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $321.38.

WESCO International 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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