Hsbc Holdings PLC Raises Stake in WESCO International, Inc. $WCC

Key Points

• Institutional ownership increased: HSBC Holdings raised its WESCO International stake by 1,185.8% to 25,202 shares, while institutional investors collectively owned 93.75% of the company.
• Analysts remain broadly positive: WESCO has a consensus “Buy” rating and an average price target of $394.17, with recent targets ranging from $400 to $440.
• Strong quarterly performance: WESCO reported $4.57 in quarterly EPS, beating estimates of $3.98, while revenue rose 13% year over year to $6.67 billion. The company also announced a quarterly dividend of $0.50 per share, representing a 0.6% yield.

Hsbc Holdings PLC raised its holdings in shares of WESCO International, Inc. (NYSE:WCC - Free Report) by 1,185.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,202 shares of the technology company's stock after acquiring an additional 23,242 shares during the period. Hsbc Holdings PLC owned approximately 0.05% of WESCO International worth $8,745,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in WCC. Vaughan Nelson Investment Management L.P. boosted its holdings in WESCO International by 8.4% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 404,730 shares of the technology company's stock valued at $110,742,000 after purchasing an additional 31,210 shares during the last quarter. BlackRock Inc. purchased a new position in shares of WESCO International during the 2nd quarter valued at about $3,094,634,000. Geode Capital Management LLC lifted its holdings in shares of WESCO International by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 864,237 shares of the technology company's stock valued at $211,473,000 after buying an additional 14,739 shares during the period. Van Lanschot Kempen Investment Management N.V. lifted its holdings in shares of WESCO International by 74.8% in the 4th quarter. Van Lanschot Kempen Investment Management N.V. now owns 186,012 shares of the technology company's stock valued at $45,506,000 after buying an additional 79,612 shares during the period. Finally, Algert Global LLC boosted its stake in shares of WESCO International by 103.3% in the second quarter. Algert Global LLC now owns 65,146 shares of the technology company's stock worth $22,503,000 after buying an additional 33,109 shares during the last quarter. 93.75% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at WESCO International

In other news, EVP Daniel J. Castillo acquired 960 shares of the stock in a transaction that occurred on Tuesday, August 4th. The shares were bought at an average cost of $365.89 per share, for a total transaction of $351,254.40. Following the acquisition, the executive vice president owned 16,305 shares in the company, valued at approximately $5,965,836.45. This represents a 6.26% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Laura Thompson sold 270 shares of the business's stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $368.45, for a total value of $99,481.50. Following the sale, the director owned 10,720 shares of the company's stock, valued at approximately $3,949,784. This trade represents a 2.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 2.60% of the company's stock.

Analysts Set New Price Targets

WCC has been the subject of several recent research reports. DA Davidson initiated coverage on WESCO International in a research report on Tuesday, June 16th. They set a "buy" rating and a $440.00 price target for the company. Stephens upgraded WESCO International from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $350.00 to $400.00 in a research report on Tuesday, July 14th. Wall Street Zen lowered shares of WESCO International from a "buy" rating to a "hold" rating in a report on Sunday, July 12th. Royal Bank Of Canada boosted their target price on shares of WESCO International from $421.00 to $430.00 and gave the company an "outperform" rating in a research note on Friday, July 31st. Finally, Weiss Ratings downgraded shares of WESCO International from a "buy (b-)" rating to a "hold (c+)" rating in a report on Tuesday, September 1st. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $394.17.

WESCO International Stock Performance

Shares of WCC stock opened at $355.83 on Thursday. 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, Inc. has a 12-month low of $203.40 and a 12-month high of $385.37. The business's 50 day moving average is $341.57 and its two-hundred day moving average is $326.68. The company has a market capitalization of $17.34 billion, a P/E ratio of 24.59, a P/E/G ratio of 2.13 and a beta of 1.53.

WESCO International (NYSE:WCC - Get Free Report) last announced its earnings results on Thursday, July 30th. The technology company reported $4.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.98 by $0.59. The firm had revenue of $6.67 billion for the quarter, compared to analyst estimates of $6.44 billion. WESCO International had a return on equity of 14.95% and a net margin of 2.84%.The business's revenue was up 13.0% on a year-over-year basis. During the same quarter last year, the firm posted $3.83 EPS. WESCO International has set its FY 2026 guidance at 16.000-17.500 EPS. Analysts expect that WESCO International, Inc. will post 16.89 EPS for the current fiscal year.

WESCO International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 11th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.6%. WESCO International's payout ratio is currently 13.82%.

About WESCO International

WESCO International, Inc is a business-to-business distributor and supply chain solutions provider serving the electrical, communications, security, utility and broadband industries. The company supplies products such as electrical and electronic components, wire and cable, lighting, automation equipment, network infrastructure, security systems, safety products and utility equipment.

Through its distribution operations and supply chain services, WESCO helps commercial, industrial, institutional, utility and government customers manage procurement, inventory, logistics and other aspects of their operations.

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