Jim Cramer’s Latest Lightning Round: 5 Stock Recommendations

This article presents an overview of Jim Cramer’s Latest Lightning Round: 5 Stock Recommendations. For a detailed overview of such stocks, read our article, Jim Cramer’s Latest Lightning Round: 11 Stock Recommendations.

5. WESCO International, Inc. (NYSE:WCC)

Number of Hedge Fund Investors: 30

Electrical distribution and services company WESCO International, Inc. (NYSE:WCC) ranks fifth in our list of the top stock recommendations from Jim Cramer. When asked about WESCO International, Inc. (NYSE:WCC), Cramer said he does not know “what happened in the last quarter” but he believes it’s a “good” and “inexpensive” stock. Cramer also said that he’s “OK” with WESCO International, Inc. (NYSE:WCC).

Last month WESCO International, Inc. (NYSE:WCC) posted Q4 results. Adjusted EPS in the period came in at $2.65, missing estimates by $1.22. Revenue fell 1.8% year over year to $5.5 billion, missing estimates by $80 million.

WESCO International, Inc. (NYSE:WCC) announced a 10% increase in its quarterly dividend.

Artisan Small Cap Fund made the following comment about WESCO International, Inc. (NYSE:WCC) in its Q3 2023 investor letter:

“We initiated new Garden positions in WESCO International, Inc. (NYSE:WCC), CCC Intelligent Solutions and Stevanato Group during the quarter. WESCO’s 2020 acquisition of Anixter made it the largest US electrical and data center distributor, which further strengthens WESCO’s brand and allows the company to benefit from supply chain advantages. We believe the company will experience accelerating growth due to internal and external catalysts. From an internal perspective, the Anixter acquisition provide more cross-selling opportunities between the two largely homogenous customer bases as well as the ability to use the combined scale to go after new opportunities. Additionally, the combination will likely reduce earnings cyclicality. From an external perspective, we believe the company will benefit from increased spending on the energy transition, electrification, reshoring of supply chains and higher levels of computing needed to power things like artificial intelligence.”