Do You Believe in the Multi-Year Growth Prospects of Wesco (WCC)?
Choice Equities Capital Management, a hedge fund manager, released its third-quarter 2023 investor letter recently. You can view it here. In the third quarter, the fund generated -14.6% on a net basis which brought the year-to-date net performance to -6.2%. This compares to Russell 2000’s -5.1% loss for the quarter and +2.5% gain year-to-date. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Choice Equities highlighted stocks like WESCO International, Inc. (NYSE:WCC) in the third quarter 2023 investor letter. Headquartered in Pittsburgh, Pennsylvania, WESCO International, Inc. (NYSE:WCC) offers business-to-business distribution, logistics services, and supply chain solutions. On November 6, 2023, WESCO International, Inc. (NYSE:WCC) stock closed at $139.62 per share. One-month return of WESCO International, Inc. (NYSE:WCC) was -4.84%, and its shares gained 14.39% of their value over the last 52 weeks. WESCO International, Inc. (NYSE:WCC) has a market capitalization of $7.131 billion.
Choice Equities made the following comment about WESCO International, Inc. (NYSE:WCC) in its Q3 2023 investor letter:
"Other core holdings continue to trade at attractive valuations. Industrials such as Orion Engineered Carbons, SA (OEC) and WESCO International, Inc. (NYSE:WCC) trade at single digit earnings’ multiples and offer attractive multi-year growth prospects."
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WESCO International, Inc. (NYSE:WCC) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 43 hedge fund portfolios held WESCO International, Inc. (NYSE:WCC) at the end of second quarter which was 51 in the previous quarter.
We discussed WESCO International, Inc. (NYSE:WCC) in another article and shared Appleseed Fund's views on the company. In addition, please check out our hedge fund investor letters Q3 2023 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.
