Hedge Funds Are Buying WESCO International, Inc. (WCC)

WESCO International, Inc. (NYSE:WCC) was in 28 hedge funds’ portfolio at the end of March. WCC has seen an increase in hedge fund sentiment recently. There were 24 hedge funds in our database with WCC holdings at the end of the previous quarter.

In the 21st century investor’s toolkit, there are plenty of gauges shareholders can use to monitor their holdings. A duo of the most innovative are hedge fund and insider trading interest. At Insider Monkey, our studies have shown that, historically, those who follow the best picks of the best money managers can beat the market by a superb amount (see just how much).

Equally as beneficial, positive insider trading activity is another way to break down the stock market universe. There are a number of reasons for an executive to drop shares of his or her company, but only one, very simple reason why they would initiate a purchase. Many empirical studies have demonstrated the impressive potential of this method if shareholders know where to look (learn more here).

With all of this in mind, let’s take a gander at the latest action encompassing WESCO International, Inc. (NYSE:WCC).

What have hedge funds been doing with WESCO International, Inc. (NYSE:WCC)?

Heading into Q2, a total of 28 of the hedge funds we track held long positions in this stock, a change of 17% from the first quarter.

As one would reasonably expect, key hedge funds were breaking ground themselves. Egerton Capital Limited, managed by John Armitage, initiated the most outsized position in WESCO International, Inc. (NYSE:WCC). Egerton Capital Limited had 62.4 million invested in the company at the end of the quarter. Andrew Feldstein and Stephen Siderow’s Blue Mountain Capital also made a $35.4 million investment in the stock during the quarter. The other funds with new positions in the stock are Donald Chiboucis’s Columbus Circle Investors, Daniel Lascano’s Lomas Capital Management, and Michael Novogratz’s Fortress Investment Group.

How are insiders trading WESCO International, Inc. (NYSE:WCC)?

Insider purchases made by high-level executives is particularly usable when the company we’re looking at has experienced transactions within the past half-year. Over the latest half-year time period, WESCO International, Inc. (NYSE:WCC) has seen zero unique insiders purchasing, and 5 insider sales (see the details of insider trades here).

Let’s also review hedge fund and insider activity in other stocks similar to WESCO International, Inc. (NYSE:WCC). These stocks are DXP Enterprises Inc (NASDAQ:DXPE), Airgas, Inc. (NYSE:ARG), Wesco Aircraft Holdings Inc (NYSE:WAIR), MSC Industrial Direct Co Inc (NYSE:MSM), and Applied Industrial Technologies (NYSE:AIT). All of these stocks are in the industrial equipment wholesale industry and their market caps resemble WCC’s market cap.