Cibc World Market Inc. Purchases New Shares in WESCO International, Inc. $WCC

Cibc World Market Inc. purchased a new position in shares of WESCO International, Inc. (NYSE:WCC) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 8,301 shares of the technology company’s stock, valued at approximately $2,867,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC increased its position in shares of WESCO International by 92.7% during the fourth quarter. Cornerstone Planning Group LLC now owns 106 shares of the technology company’s stock worth $26,000 after acquiring an additional 51 shares during the last quarter. Bell Investment Advisors Inc purchased a new position in WESCO International in the second quarter valued at about $26,000. Brown Brothers Harriman & Co. grew its stake 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 in the last quarter. Torren Management LLC acquired a new stake in WESCO International during the 4th quarter valued at approximately $32,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in WESCO International during the 2nd quarter worth approximately $38,000. 93.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on WCC. Wall Street Zen lowered WESCO International from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Weiss Ratings raised shares of WESCO International from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, August 17th. Royal Bank Of Canada upped their price target 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. DA Davidson started coverage on shares of WESCO International in a research note on Tuesday, June 16th. They set a “buy” rating and a $440.00 price objective on the stock. Finally, Stephens raised shares of WESCO International from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $350.00 to $400.00 in a report on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company. According to MarketBeat, WESCO International currently has a consensus rating of “Buy” and a consensus target price of $374.29.

WESCO International Stock Up 2.3%

WCC stock opened at $346.72 on Thursday. The company has a debt-to-equity ratio of 1.13, a current ratio of 2.09 and a quick ratio of 1.23. WESCO International, Inc. has a 1-year low of $203.40 and a 1-year high of $385.37. The firm has a fifty day moving average price of $342.90 and a two-hundred day moving average price of $323.65. The firm has a market cap of $16.90 billion, a price-to-earnings ratio of 23.96, a PEG ratio of 2.02 and a beta of 1.54.

WESCO International (NYSE:WCC) last posted its quarterly earnings results on Thursday, July 30th. The technology company reported $4.57 earnings per share (EPS) 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 company had revenue of $6.67 billion for the quarter, compared to the consensus estimate of $6.44 billion. During the same period last year, the firm posted $3.83 EPS. The company’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. Research analysts predict that WESCO International, Inc. will post 16.77 EPS for the current year.

Insider Buying and Selling

In other WESCO International news, EVP Akash Khurana sold 3,400 shares of the firm’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $366.78, for a total value of $1,247,052.00. Following the transaction, the executive vice president owned 27,404 shares of the company’s stock, valued at $10,051,239.12. This trade represents a 11.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Daniel J. Castillo bought 960 shares of the firm’s stock in a transaction 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 purchase, the executive vice president owned 16,305 shares of the company’s stock, valued at $5,965,836.45. This trade represents a 6.26% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 2.60% of the stock is owned by company insiders.

WESCO International Company Profile

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.