Sequoia Financial Advisors LLC Raises Position in WESCO International, Inc. $WCC

Key Points

• Sequoia Financial Advisors increased its WESCO International position by 28.8% in the second quarter, bringing its holdings to 23,336 shares valued at approximately $8.1 million. Institutional investors and hedge funds collectively own 93.75% of WESCO’s stock.
• Analysts maintain a broadly positive outlook, with an overall “Buy” rating and an average price target of $394.17. Recent targets range from $390 to $440, although Weiss Ratings downgraded the stock to “Hold.”
• WESCO exceeded quarterly expectations with adjusted earnings of $4.57 per share and revenue of $6.67 billion, while revenue increased 13% year over year. The company also announced a quarterly dividend of $0.50 per share, equivalent to a 0.6% annual yield.

Sequoia Financial Advisors LLC grew its position in WESCO International, Inc. (NYSE:WCC - Free Report) by 28.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,336 shares of the technology company's stock after acquiring an additional 5,224 shares during the quarter. Sequoia Financial Advisors LLC's holdings in WESCO International were worth $8,061,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of WCC. Bell Investment Advisors Inc acquired a new position in shares of WESCO International during the 2nd quarter worth approximately $26,000. Transamerica Financial Advisors LLC purchased a new position in shares of WESCO International during the 2nd quarter worth $27,000. Brown Brothers Harriman & Co. boosted its stake in WESCO International by 166.0% during the third quarter. Brown Brothers Harriman & Co. now owns 133 shares of the technology company's stock worth $28,000 after buying an additional 83 shares during the period. Jones Financial Companies Lllp purchased a new position in shares of WESCO International during the 2nd quarter worth approximately $36,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of WESCO International in the second quarter valued at $38,000. 93.75% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at WESCO International

In related news, Director Laura Thompson sold 270 shares of the stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $368.45, for a total transaction of $99,481.50. Following the sale, the director owned 10,720 shares of the company's stock, valued at $3,949,784. This trade represents a 2.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Akash Khurana sold 3,400 shares of the firm's stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $366.78, for a total transaction of $1,247,052.00. Following the sale, the executive vice president directly owned 27,404 shares in the company, valued at $10,051,239.12. This represents a 11.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 2.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Stephens upgraded shares of WESCO International from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $350.00 to $400.00 in a report on Tuesday, July 14th. Barclays increased their price objective on WESCO International from $376.00 to $390.00 and gave the company an "overweight" rating in a report on Monday, August 3rd. DA Davidson began coverage on shares of WESCO International in a research note on Tuesday, June 16th. They set a "buy" rating and a $440.00 price target on the stock. Weiss Ratings cut WESCO International from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, September 1st. Finally, Royal Bank Of Canada upped their target price on shares of WESCO International from $421.00 to $430.00 and gave the company an "outperform" rating in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $394.17.

WESCO International Price Performance

WCC stock opened at $357.07 on Friday. The firm has a 50 day moving average of $343.25 and a 200-day moving average of $327.22. The company has a current ratio of 2.09, a quick ratio of 1.23 and a debt-to-equity ratio of 1.13. The company has a market cap of $17.40 billion, a price-to-earnings ratio of 24.68, a PEG ratio of 2.04 and a beta of 1.53. WESCO International, Inc. has a 12-month low of $203.40 and a 12-month high of $385.37.

WESCO International (NYSE:WCC - Get Free Report) last posted its earnings results on Thursday, July 30th. The technology company reported $4.57 earnings per share for the quarter, beating the consensus estimate of $3.98 by $0.59. The company 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%.WESCO International'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 earnings per share. WESCO International has set its FY 2026 guidance at 16.000-17.500 EPS. As a group, equities 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. Shareholders of record on Friday, September 11th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Friday, September 11th. WESCO International's dividend payout ratio is 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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