Morningstar | Investor Day 2019: Wesco Is Embracing Digitalization, Big Data, and ESG to Foster a Winning Strategy
Wesco International used its 2019 investor day on June 13 as an opportunity to provide an update on several of its key initiatives, including expanding its e-commerce capabilities, bolstering its environmental, social, and governance, or ESG, standing, and improving its financial performance. Expanding its digital capabilities is prudent because we think buyer preferences will continue to shift toward e-commerce channels. While Wesco's ESG focus is good in its own right for the environment and for supporting important social endeavors, it could also attract ESG investors and improve its bottom line. Finally, we were pleased that management's long-term financial plan is almost dead-on with our projections. That said, we raised our fair value estimate about 1% to $88 per share to account for the time value of money since our last update. Wesco currently trades at over a 40% discount to our fair value estimate, with a medium uncertainty rating, which results in an attractive 5-star rating.See our report “Key Takeaways from Wesco’s 2019 Investor Day: Best Idea Wesco Is Embracing Digitalization, Big Data, and ESG to Foster a Winning Strategy†for our more detailed thoughts and analysis.
WESCO International is a distributor of products and provider of supply chain management and logistics services used primarily in industrial, construction, utility and commercial, institutional and government markets. The company is a provider of electrical, industrial, and communications maintenance, repair and operating and original equipment manufacturers products, construction materials, and supply chain management and logistics services. The company's primary product categories include general supplies, wire, cable and conduit, communications and security, electrical distribution and controls, lighting and sustainability, and automation, controls and motors.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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