WESCO International, Inc. $WCC Stock Holdings Reduced by Corient Private Wealth LP

Key Points

• Corient Private Wealth reduced its WESCO International stake by 20.3% in the second quarter, selling 12,377 shares and retaining 48,489 shares. Institutional investors and hedge funds collectively own 93.75% of WESCO’s stock.
• Analyst sentiment remains broadly positive, with an average “Buy” rating and a $394.17 price target. Recent targets range from $390 to $440, although Weiss Ratings downgraded the stock to “Hold.”
• WESCO reported quarterly earnings of $4.57 per share, beating estimates of $3.98, while revenue rose 13% year over year to $6.67 billion. The company also declared a quarterly dividend of $0.50 per share, representing a 0.6% annualized yield.

Corient Private Wealth LP cut its position in shares of WESCO International, Inc. (NYSE:WCC - Free Report) by 20.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,489 shares of the technology company's stock after selling 12,377 shares during the period. Corient Private Wealth LP owned 0.10% of WESCO International worth $16,750,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in WCC. California State Teachers Retirement System grew its stake in shares of WESCO International by 34,555.8% in the 2nd quarter. California State Teachers Retirement System now owns 19,529,576 shares of the technology company's stock valued at $6,746,101,000 after buying an additional 19,473,223 shares in the last quarter. BlackRock Inc. bought a new position in WESCO International during the second quarter valued at approximately $3,094,634,000. Bank of New York Mellon Corp lifted its stake in WESCO International by 10.3% in the first quarter. Bank of New York Mellon Corp now owns 907,473 shares of the technology company's stock valued at $248,303,000 after acquiring an additional 84,905 shares during the last quarter. Geode Capital Management LLC lifted its stake in WESCO International by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 864,237 shares of the technology company's stock valued at $211,473,000 after acquiring an additional 14,739 shares during the last quarter. Finally, Bank of America Corp DE bought a new stake in WESCO International in the second quarter worth approximately $296,304,000. 93.75% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Barclays increased their price target on shares of WESCO International from $376.00 to $390.00 and gave the stock an "overweight" rating in a research note on Monday, August 3rd. Zacks Research raised shares of WESCO International from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 3rd. DA Davidson started coverage on shares of WESCO International in a report on Tuesday, June 16th. They issued a "buy" rating and a $440.00 price objective for the company. Stephens raised shares of WESCO International from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $350.00 to $400.00 in a research report on Tuesday, July 14th. Finally, Weiss Ratings lowered 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. According to data from MarketBeat, WESCO International has an average rating of "Buy" and an average price target of $394.17.

WESCO International Trading Down 5.5%

Shares of WCC stock opened at $336.85 on Tuesday. WESCO International, Inc. has a 12 month low of $203.40 and a 12 month high of $385.37. The company has a market cap of $16.42 billion, a PE ratio of 23.28, a price-to-earnings-growth ratio of 2.11 and a beta of 1.53. The company has a quick ratio of 1.23, a current ratio of 2.09 and a debt-to-equity ratio of 1.13. The business's 50 day moving average is $343.64 and its two-hundred day moving average is $327.80.

WESCO International (NYSE:WCC - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The technology company reported $4.57 earnings per share for the quarter, topping analysts' consensus estimates of $3.98 by $0.59. WESCO International had a net margin of 2.84% and a return on equity of 14.95%. The business had revenue of $6.67 billion during the quarter, compared to analysts' expectations of $6.44 billion. During the same period in the previous year, the company earned $3.83 earnings per share. WESCO International's revenue for the quarter was up 13.0% on a year-over-year basis. WESCO International has set its FY 2026 guidance at 16.000-17.500 EPS. Equities analysts predict that WESCO International, Inc. will post 16.89 EPS for the current year.

WESCO International Dividend Announcement

The company also recently declared 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%.

Insider Buying and Selling at WESCO International

In related news, Director Laura Thompson sold 270 shares of the stock in a transaction that occurred 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 completion of the sale, the director owned 10,720 shares in the company, valued at $3,949,784. This represents a 2.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Akash Khurana sold 3,400 shares of the business's stock in a transaction on 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 transaction, the executive vice president directly owned 27,404 shares in the company, valued at $10,051,239.12. This trade represents a 11.04% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 2.60% of the company's stock.

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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