WESCO International, Inc. (NYSE:WCC) Short Interest Up 27.8% in November

WESCO International, Inc. (NYSE:WCC) saw a significant increase in short interest in the month of November. As of November 15th, there was short interest totalling 1,210,000 shares, an increase of 27.8% from the October 31st total of 947,100 shares. Approximately 2.6% of the company’s shares are sold short. Based on an average daily volume of 732,000 shares, the short-interest ratio is currently 1.7 days.

Wall Street Analyst Weigh In

A number of brokerages have commented on WCC. Oppenheimer boosted their price objective on WESCO International from $205.00 to $225.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. KeyCorp upped their price target on WESCO International from $195.00 to $225.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Loop Capital lifted their price objective on shares of WESCO International from $190.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Stephens boosted their target price on shares of WESCO International from $190.00 to $205.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Finally, Baird R W upgraded shares of WESCO International from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 16th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, WESCO International presently has a consensus rating of “Buy” and a consensus target price of $208.86.

Insider Buying and Selling at WESCO International

In other WESCO International news, CFO David S. Schulz sold 14,938 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $206.55, for a total transaction of $3,085,443.90. Following the completion of the sale, the chief financial officer now directly owns 104,471 shares in the company, valued at $21,578,485.05. The trade was a 12.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Steven A. Raymund sold 5,819 shares of the firm’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $171.56, for a total transaction of $998,307.64. Following the completion of the transaction, the director now directly owns 27,004 shares in the company, valued at approximately $4,632,806.24. This represents a 17.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,586 shares of company stock worth $6,565,762 in the last quarter. 3.10% of the stock is owned by insiders.

Hedge Funds Weigh In On WESCO International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WCC. Pacer Advisors Inc. raised its position in shares of WESCO International by 23,727.4% during the 2nd quarter. Pacer Advisors Inc. now owns 1,589,048 shares of the technology company’s stock worth $251,896,000 after buying an additional 1,582,379 shares in the last quarter. Clearbridge Investments LLC acquired a new stake in WESCO International in the second quarter worth approximately $52,782,000. Thompson Siegel & Walmsley LLC boosted its stake in WESCO International by 341.8% during the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 258,486 shares of the technology company’s stock valued at $43,420,000 after purchasing an additional 199,975 shares in the last quarter. Neo Ivy Capital Management acquired a new position in shares of WESCO International during the 2nd quarter valued at $5,916,000. Finally, Geode Capital Management LLC increased its position in shares of WESCO International by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 762,653 shares of the technology company’s stock valued at $128,143,000 after purchasing an additional 22,080 shares during the period. 93.76% of the stock is owned by institutional investors.

WESCO International Stock Up 0.2 %

NYSE WCC traded up $0.50 on Monday, hitting $212.07. 436,053 shares of the stock traded hands, compared to its average volume of 702,210. The company has a current ratio of 2.21, a quick ratio of 1.29 and a debt-to-equity ratio of 0.99. The stock has a 50-day moving average of $186.13 and a 200 day moving average of $173.27. WESCO International has a twelve month low of $132.37 and a twelve month high of $216.17. The company has a market capitalization of $10.39 billion, a P/E ratio of 16.94, a price-to-earnings-growth ratio of 1.73 and a beta of 2.01.

WESCO International (NYSE:WCC) last posted its quarterly earnings results on Thursday, October 31st. The technology company reported $3.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.22 by $0.36. The company had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.46 billion. WESCO International had a net margin of 3.19% and a return on equity of 13.19%. The company’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same period last year, the firm posted $4.49 EPS. As a group, analysts expect that WESCO International will post 12.24 earnings per share for the current fiscal year.

WESCO International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a dividend of $0.4125 per share. This represents a $1.65 annualized dividend and a dividend yield of 0.78%. WESCO International’s dividend payout ratio is presently 13.21%.

WESCO International Company Profile

WESCO International, Inc provides business-to-business distribution, logistics services, and supply chain solutions in the United States, Canada, and internationally. It operates through three segments: Electrical & Electronic Solutions (EES), Communications & Security Solutions (CSS), and Utility and Broadband Solutions (UBS).