Handelsbanken Fonder AB Decreases Stock Holdings in WESCO International, Inc. $WCC

Key Points

• Handelsbanken Fonder AB cut its stake in WESCO International by 24.6% in the fourth quarter, though it still held 146,893 shares worth about $35.9 million at the end of the period.
• WESCO reported a strong quarterly beat, posting $3.37 EPS versus expectations of $2.88 and $6.08 billion in revenue, with sales up 13.8% year over year. The company also raised its full-year guidance to 15.0-17.0 EPS.
• Despite recent insider selling by the CFO and an EVP, analysts remain mostly positive on the stock, with a Buy consensus and an average price target of $321.38. The shares also recently got a dividend increase to $0.50 per share quarterly.

Handelsbanken Fonder AB reduced its stake in shares of WESCO International, Inc. (NYSE:WCC - Free Report) by 24.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 146,893 shares of the technology company's stock after selling 48,000 shares during the quarter. Handelsbanken Fonder AB owned approximately 0.30% of WESCO International worth $35,936,000 at the end of the most recent reporting period.

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

WESCO International Stock Performance

Shares of WESCO International stock opened at $337.22 on Wednesday. The stock has a market cap of $16.43 billion, a price-to-earnings ratio of 23.97, a PEG ratio of 2.19 and a beta of 1.54. The firm's 50-day moving average is $302.11 and its 200 day moving average is $283.35. WESCO International, Inc. has a 1 year low of $161.70 and a 1 year high of $374.00. The company has a debt-to-equity ratio of 1.13, a current ratio of 2.12 and a quick ratio of 1.22.

WESCO International (NYSE:WCC - Get Free Report) last announced 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 company had revenue of $6.08 billion for the quarter, compared to analysts' expectations of $5.86 billion. WESCO International had a net margin of 2.79% and a return on equity of 13.82%. WESCO International's revenue was up 13.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.21 EPS. WESCO International has set its FY 2026 guidance at 15.000-17.000 EPS. Sell-side analysts anticipate that WESCO International, Inc. will post 15.9 EPS for the current fiscal year.

WESCO International Increases Dividend

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

Insider Activity

In other news, EVP Diane Lazzaris sold 9,910 shares of the business's stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $359.48, for a total transaction of $3,562,446.80. Following the completion of the transaction, the executive vice president directly owned 19,611 shares of the company's stock, valued at $7,049,762.28. The trade was a 33.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO David S. Schulz sold 31,951 shares of the business's stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $360.44, for a total transaction of $11,516,418.44. Following the transaction, the chief financial officer directly owned 77,038 shares of the company's stock, valued at $27,767,576.72. The trade was a 29.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 144,486 shares of company stock valued at $51,846,641 over the last three months. Corporate insiders own 2.60% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. KeyCorp boosted their price objective on shares of WESCO International from $340.00 to $415.00 and gave the company an "overweight" rating in a research report on Friday, May 1st. Stephens boosted their price objective on shares of WESCO International from $275.00 to $350.00 and gave the company an "equal weight" rating in a research report on Monday, May 4th. Barclays boosted their price objective on shares of WESCO International from $313.00 to $375.00 and gave the company an "overweight" rating in a research report on Monday, May 4th. Royal Bank Of Canada boosted their price objective on shares of WESCO International from $352.00 to $411.00 and gave the company an "outperform" rating in a research report on Friday, May 1st. Finally, Weiss Ratings raised shares of WESCO International from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, WESCO International currently has a consensus rating of "Buy" and an average price target of $321.38.

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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