Generate Investment Management Ltd Sells 29,334 Shares of WESCO International, Inc. $WCC

Key Points

• Generate Investment Management Ltd cut its WESCO International stake by 61.9% in the third quarter, selling 29,334 shares and retaining 18,029 shares valued at approximately $6.5 million.
• WESCO shares fell 2.4% to $354.16, while institutional investors continued to hold a dominant 93.75% of the company’s stock.
• Analyst sentiment remains positive: WESCO has an average “Buy” rating and a consensus price target of $402.83, supported by quarterly earnings and revenue that exceeded expectations.

Generate Investment Management Ltd reduced its stake in shares of WESCO International, Inc. (NYSE:WCC - Free Report) by 61.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,029 shares of the technology company's stock after selling 29,334 shares during the quarter. Generate Investment Management Ltd's holdings in WESCO International were worth $6,483,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. B. Riley Wealth Advisors Inc. purchased a new position in WESCO International during the third quarter worth $267,000. Krilogy Financial LLC lifted its stake in shares of WESCO International by 33.2% during the 3rd quarter. Krilogy Financial LLC now owns 7,696 shares of the technology company's stock worth $2,781,000 after acquiring an additional 1,918 shares during the last quarter. Fragasso Financial Advisors Inc boosted its holdings in WESCO International by 2.7% during the 3rd quarter. Fragasso Financial Advisors Inc now owns 1,603 shares of the technology company's stock valued at $586,000 after acquiring an additional 42 shares during the period. NorthCrest Asset Manangement LLC grew its position in WESCO International by 111.5% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 2,413 shares of the technology company's stock valued at $859,000 after acquiring an additional 1,272 shares during the last quarter. Finally, Riversedge Advisors LLC bought a new position in WESCO International in the 3rd quarter valued at $205,000. Hedge funds and other institutional investors own 93.75% of the company's stock.

WESCO International Stock Down 2.4%

Shares of WESCO International stock traded down $8.78 during trading on Wednesday, hitting $354.16. 255,819 shares of the stock traded hands, compared to its average volume of 596,033. WESCO International, Inc. has a 52-week low of $211.47 and a 52-week high of $388.64. The stock's fifty day simple moving average is $355.46 and its 200 day simple moving average is $340.98. The firm has a market cap of $17.26 billion, a P/E ratio of 24.48, a price-to-earnings-growth ratio of 2.16 and a beta of 1.54. The company has a current ratio of 2.09, a quick ratio of 1.23 and a debt-to-equity ratio of 1.13.

WESCO International (NYSE:WCC - Get Free Report) last announced 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. The firm had revenue of $6.67 billion during the quarter, compared to analysts' expectations of $6.44 billion. WESCO International had a net margin of 2.84% and a return on equity of 14.95%. The company's revenue was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.83 EPS. 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 earnings per share for the current fiscal year.

WESCO International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Friday, September 11th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Friday, September 11th. WESCO International's payout ratio is presently 13.82%.

Analyst Ratings Changes

Several analysts have recently weighed in on WCC shares. Stephens upgraded WESCO International from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $350.00 to $400.00 in a research report on Tuesday, July 14th. Zacks Research upgraded shares of WESCO International from a "hold" rating to a "strong-buy" rating in a report on Monday, August 3rd. Royal Bank Of Canada raised their price target on shares of WESCO International from $430.00 to $435.00 and gave the stock an "outperform" rating in a research note on Wednesday. Weiss Ratings upgraded shares of WESCO International from a "hold (c+)" rating to a "buy (b)" rating in a report on Thursday, October 8th. Finally, Barclays boosted their price objective on shares of WESCO International from $390.00 to $437.00 and gave the company an "overweight" rating in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $402.83.

Insider Activity at WESCO International

In other news, EVP Daniel J. Castillo bought 960 shares of the firm's stock in a transaction that occurred on Tuesday, August 4th. The stock was bought at an average price of $365.89 per share, with a total value of $351,254.40. Following the completion of the transaction, the executive vice president directly owned 16,305 shares of the company's stock, valued at approximately $5,965,836.45. The trade was a 6.26% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Akash Khurana sold 3,400 shares of the firm's stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $366.78, for a total transaction of $1,247,052.00. Following the completion of the sale, the executive vice president owned 27,404 shares of the company's stock, valued at approximately $10,051,239.12. This trade represents a 11.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.60% of the stock is owned by corporate insiders.

About WESCO International

WESCO International, Inc is a global provider of electrical, communications, utility and supply chain solutions. Through its distribution and service operations, the company supplies products used in commercial, industrial, institutional, utility, data center, broadband and residential markets.

Its product offerings include electrical and electronic components, wire and cable, lighting and controls, network infrastructure, security and safety products, automation equipment, and general industrial supplies.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.