BlackRock Discloses 13.6% Stake in WESCO INTERNATIONAL INC
Ticker: WCC · Form: SC 13G · Filed: Jan 26, 2024 · CIK: 929008
| Field | Detail |
|---|---|
| Company | Wesco International Inc (WCC) |
| Form Type | SC 13G |
| Filed Date | Jan 26, 2024 |
| Risk Level | low |
| Sentiment | bullish |
Complexity: simple
Sentiment: bullish
Topics: institutional-ownership, passive-investment, major-holder
TL;DR
**BlackRock just revealed a 13.6% stake in WESCO, a bullish sign from a major player.**
AI Summary
BlackRock Inc. reported on January 26, 2024, that as of December 31, 2023, it beneficially owns 7,011,046 shares of WESCO INTERNATIONAL INC's Common Stock. This represents a 13.6% ownership stake in the company. This matters to investors because BlackRock, a major institutional investor, holds a significant portion of WESCO, indicating their confidence in the company's long-term prospects and potentially influencing its stock stability.
Why It Matters
A large institutional holding by BlackRock can signal stability and confidence in WESCO INTERNATIONAL INC, potentially attracting other investors and influencing stock performance.
Risk Assessment
Risk Level: low — This filing indicates a significant, passive institutional investment, which generally reduces volatility and signals confidence.
Analyst Insight
A smart investor would note BlackRock's substantial, passive stake as a vote of confidence, suggesting WESCO INTERNATIONAL INC could be a stable long-term holding, and might consider adding it to their portfolio or maintaining existing positions.
Key Numbers
- 7,011,046 — Shares Beneficially Owned (Represents BlackRock's total holding in WESCO INTERNATIONAL INC.)
- 13.6% — Ownership Percentage (Indicates a significant stake held by BlackRock in WESCO INTERNATIONAL INC.)
Key Players & Entities
- BlackRock Inc. (company) — the institutional investor filing the SC 13G
- WESCO INTERNATIONAL INC (company) — the subject company in which shares are held
- 7,011,046 (dollar_amount) — number of shares beneficially owned by BlackRock
- 13.6% (dollar_amount) — percentage of WESCO's common stock owned by BlackRock
- December 31, 2023 (person) — date of the event requiring the filing
Forward-Looking Statements
- WESCO INTERNATIONAL INC's stock may experience increased stability due to BlackRock's significant passive stake. (WESCO INTERNATIONAL INC) — medium confidence, target: next 6-12 months
- Other institutional investors might view BlackRock's large holding as a positive signal, potentially leading to further institutional investment. (WESCO INTERNATIONAL INC) — medium confidence, target: next 3-6 months
FAQ
Who filed this SC 13G statement?
This SC 13G statement was filed by BlackRock Inc., a major institutional investment manager.
What company's shares are the subject of this filing?
The shares are those of WESCO INTERNATIONAL INC, identified by the CUSIP Number 95082P105.
How many shares of WESCO INTERNATIONAL INC does BlackRock Inc. beneficially own?
BlackRock Inc. beneficially owns 7,011,046 shares of WESCO INTERNATIONAL INC's Common Stock.
What percentage of WESCO INTERNATIONAL INC's common stock does BlackRock Inc. own?
BlackRock Inc. owns 13.6% of WESCO INTERNATIONAL INC's Common Stock.
What was the 'Date of Event Which Requires Filing of this Statement'?
The date of the event which requires this filing was December 31, 2023.
Filing Details
This Form SC 13G (Form SC 13G) was filed with the SEC on January 26, 2024 by December 31, 2023 regarding WESCO INTERNATIONAL INC (WCC).