Taking a Closer Look At WESCO International Inc. (WCC) Following Its Recent Trade


WESCO International Inc.’s filing revealed that its 10% Owner Green Equity Investors VII, L. acquired Company’s shares for reported $1.14 million on Sep 29. In the deal valued at $114.78 per share,9,941 shares were bought. As a result of this transaction, Green Equity Investors VII, L. now holds 3,470,265 shares worth roughly $ 416.33 million.

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Then, Green Equity Investors VII, L. bought 97,157 shares, generating $11,066,440 in total proceeds. Upon buying the shares at $113.90, the 10% Owner now owns 3,464,881 shares.

Before that, Green Equity Investors VII, L. bought 100,000 shares. WESCO International Inc. shares valued at $13,395,860 were divested by the 10% Owner at a price of $133.96 per share. As a result of the transaction, Green Equity Investors VII, L. now holds 3,412,258 shares, worth roughly $409.37 million.

Jefferies upgraded its WESCO International Inc. [WCC] rating to a Buy from a a Hold in a research note published on Friday, October 17, 2022; the price target was increased to $150 from $148. PT values the company’s stock at a premium of 20.02 to its Friday closing price. A number of analysts have revised their coverage, including Loop Capital’s analysts, who began to cover the stock in early August with a ‘”a Buy”‘ rating. Wolfe Research also remained covering WCC and has increased its forecast on December 08, 2020 with a “an Outperform” recommendation from previously “Peer perform” rating.

Price Performance Review of WCC

On Friday, WESCO International Inc. [NYSE:WCC] saw its stock jump 3.01% to $119.97. On the same session, the stock had its day’s lowest price of $115.50, but rose to a high of $122.60. Over the last five days, the stock has lost -12.95%. WESCO International Inc. shares have fallen nearly -8.83% since the year began. Nevertheless, the stocks have fallen -8.74% over the past one year. While a 52-week high of $147.05 was reached on 09/12/22, a 52-week low of $99.00 was recorded on 07/14/22. SMA at 50 days reached $128.48, while 200 days put it at $124.56. A total of 1.3 million shares were traded, compared to the trading of 0.85 million shares in the previous session.

Levels Of Support And Resistance For WCC Stock

The 24-hour chart illustrates a support level at 116.11, which if violated will result in even more drops to 112.26. On the upside, there is a resistance level at 123.21. A further resistance level may holdings at 126.46. The Relative Strength Index (RSI) on the 14-day chart is 42.12, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -5.55, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 79.95%. Stochastics %K at 34.53% indicates the stock is a holding.

How much short interest is there in WESCO International Inc.?

A steep rise in short interest was recorded in WESCO International Inc. stocks on Jul 14, 2022, dropping by -0.57 million shares to a total of 1.44 million shares. Yahoo Finance data shows the prior-month short interest on Jun 14, 2022 was 2.01 million shares. There was a decline of -39.58%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 3.30% of the overall stock float, the days-to-cover ratio (short ratio) fell to 1.54.

WESCO International Inc. [WCC] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 4,417,686 shares, or roughly 8.70% of the outstanding WCC shares. In other words, the investor’s shares have fallen by -56,288 from its previous 13-F filing of 4473974.0. Additionally, Dimensional Fund Advisors LP increased 0.12% of its stake after which the total value it holdings stand at $319,788,459, while Peconic Partners LLC added 12.72% of its stake to hold $267.86 million in the firm. Over the last quarter, Macquarie Investment Management B sold -413,836 shares of WESCO International Inc., while Boston Partners Global Investors, sold -19,925 shares. At present, Diamond Hill Capital Management, is holding 1,942,267 shares valued at $231.87 million. BlackRock Fund Advisors owned 1,740,946 shares of the company at the time of its most recent 13F filing, worth $207.83 million.

According to FactSet, WESCO International Inc.’s share price will average $167.20 in the next year, based on opinions of analysts polled by the firm. This is up nearly 40.81 percent from its previous closing price of $116.47. Analysts expect WESCO International Inc. stock to reach the higher price of $200.00, while the lowest price estimate is $130.00. However, 11 analysts have rated WCC stock as a Buy in their predictions for 2022.


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