William Harnisch’s Peconic Partners is Buying These 5 Stocks

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

Peconic Partners’ Stake Value: $192,241,000

Percentage of Peconic Partners’ 13F Portfolio: 19.23%

Number of Hedge Fund Holders: 23

WESCO International, Inc. (NYSE:WCC) is an American supply chain and distribution solutions provider with operations in 17 countries. It is a Fortune 500 company offering distribution and supply chain solutions to businesses in the electrical, communications, and industrial sectors with clients including utilities, telecommunication companies, contractors, and government agencies all across the globe.

Raymond James kept a Strong Buy rating on the WESCO International, Inc. (NYSE:WCC) shares on the back of improved business conditions in the near term. Analyst Sam Darkatsh revised the firm’s price target from $140 to $145 on September 29.

Investment management firm Diamond Hill Capital, in its Q2 investment letter titled “Diamond Hill Small Cap Fund”, talked about WESCO International, Inc. (NYSE:WCC). Here is what the fund said:

“WESCO, a leading distributor of electrical, industrial and communications materials, was a top contributor as it continues making progress on its integration of Anixter—an acquisition that closed in early 2020—and is strategically paying down merger-related debt. With increased scale and added synergy from its acquisition, we believe WESCO is well positioned as it generates strong free cash flow.”