WESCO International, Inc. (NYSE:WCC) Short Interest Update

WESCO International, Inc. (NYSE:WCC) was the target of a significant increase in short interest in March. As of March 15th, there was short interest totalling 1,800,000 shares, an increase of 28.6% from the February 28th total of 1,400,000 shares. Approximately 3.8% of the company’s stock are sold short. Based on an average daily trading volume, of 766,600 shares, the days-to-cover ratio is currently 2.3 days.

Institutional Investors Weigh In On WESCO International

A number of institutional investors have recently made changes to their positions in WCC. V Square Quantitative Management LLC lifted its position in shares of WESCO International by 39.9% during the 4th quarter. V Square Quantitative Management LLC now owns 235 shares of the technology company’s stock valued at $43,000 after acquiring an additional 67 shares during the period. Whittier Trust Co. of Nevada Inc. grew its position in WESCO International by 43.5% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 267 shares of the technology company’s stock valued at $48,000 after acquiring an additional 81 shares during the last quarter. GAMMA Investing LLC raised its stake in WESCO International by 25.0% during the fourth quarter. GAMMA Investing LLC now owns 375 shares of the technology company’s stock worth $68,000 after acquiring an additional 75 shares in the last quarter. Millstone Evans Group LLC bought a new position in shares of WESCO International in the fourth quarter worth about $122,000. Finally, Raiffeisen Bank International AG acquired a new stake in shares of WESCO International in the 4th quarter valued at approximately $180,000. Institutional investors own 93.76% of the company’s stock.

WESCO International Stock Performance

NYSE:WCC traded down $1.14 during mid-day trading on Monday, hitting $155.29. The stock had a trading volume of 802,315 shares, compared to its average volume of 740,065. The company’s 50 day simple moving average is $177.90 and its 200 day simple moving average is $182.98. The stock has a market cap of $7.58 billion, a price-to-earnings ratio of 11.88, a PEG ratio of 1.45 and a beta of 2.00. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.27 and a current ratio of 2.20. WESCO International has a twelve month low of $143.06 and a twelve month high of $216.17.

WESCO International (NYSE:WCC) last issued its earnings results on Tuesday, February 11th. The technology company reported $3.16 EPS for the quarter, missing the consensus estimate of $3.23 by ($0.07). WESCO International had a return on equity of 13.63% and a net margin of 3.29%. On average, equities research analysts forecast that WESCO International will post 13.3 earnings per share for the current year.

WESCO International Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.4538 per share. This represents a $1.82 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from WESCO International’s previous quarterly dividend of $0.41. WESCO International’s dividend payout ratio (DPR) is currently 13.85%.

Analyst Ratings Changes

A number of equities analysts have weighed in on WCC shares. KeyCorp reduced their price target on WESCO International from $245.00 to $205.00 and set an “overweight” rating for the company in a research report on Monday, March 17th. StockNews.com cut shares of WESCO International from a “buy” rating to a “hold” rating in a report on Wednesday, February 12th. Stephens lifted their price target on shares of WESCO International from $205.00 to $215.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. Royal Bank of Canada increased their price objective on shares of WESCO International from $212.00 to $213.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 12th. Finally, Jefferies Financial Group raised their price objective on WESCO International from $225.00 to $245.00 and gave the company a “buy” rating in a report on Friday, December 6th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, WESCO International presently has a consensus rating of “Moderate Buy” and a consensus price target of $219.43.

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).