Should You Hold WESCO International (WCC)?

Choice Equities Capital Management, a hedge fund manager, released its fourth-quarter investor letter recently. You can view it here. In the fourth quarter, the fund returned +6.5% on a net basis compared to a +6.2% gain for the Russell 2000 Index and a +7.6% gain for the S&P 500 Index. In 2022 the fund returned -31.6% compared to -20.5% and -18.1% annual losses for the indexes, respectively. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Choice Equities Capital Management highlighted stocks like WESCO International, Inc. (NYSE:WCC) in the fourth quarter 2022 investor letter. WESCO International, Inc. (NYSE:WCC) is a supply chain solutions provider headquartered in Pittsburgh, Pennsylvania. On April 5, 2023, WESCO International, Inc. (NYSE:WCC) stock closed at $138.59 per share. One-month return of WESCO International, Inc. (NYSE:WCC) was -19.55%, and its shares gained 11.34% of their value over the last 52 weeks. WESCO International, Inc. (NYSE:WCC) has a market capitalization of $7.082 billion.

Choice Equities Capital Management made the following comment about WESCO International, Inc. (NYSE:WCC) in its Q4 2022 investor letter:

“Our holdings are generally performing as anticipated. As a general statement, despite the potential economic headwinds, we continue to expect growing cash flows, and in nearly all cases operating margin expansion, into next year and beyond.

Industrials – Orion Engineered Carbons (OEC) and WESCO International, Inc. (NYSE:WCC) continue to execute as expected. Both market leading companies trade at single digit earnings multiples and offer strong growth prospects.”

Photo by Jacques Dillies on Unsplash

WESCO International, Inc. (NYSE:WCC) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 39 hedge fund portfolios held WESCO International, Inc. (NYSE:WCC) at the end of the fourth quarter which was 43 in the previous quarter.

We discussed WESCO International, Inc. (NYSE:WCC) in another article and shared Choice Equities Capital Management’s views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.