WESCO International, Inc. (NYSE:WCC) Sees Significant Increase in Short Interest

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Royal Bank of Canada lifted their price objective on shares of WESCO International from $212.00 to $213.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 12th. Jefferies Financial Group boosted their price target on WESCO International from $225.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. KeyCorp cut their price objective 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 lowered WESCO International from a “buy” rating to a “hold” rating in a report on Wednesday, February 12th. Finally, Stephens lifted their price objective on shares of WESCO International from $205.00 to $215.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $219.43.

WESCO International Stock Performance

WCC stock traded up $5.86 during trading hours on Wednesday, hitting $162.28. 640,020 shares of the stock were exchanged, compared to its average volume of 739,203. The company has a 50-day simple moving average of $177.05 and a two-hundred day simple moving average of $182.96. The firm has a market capitalization of $7.92 billion, a P/E ratio of 12.42, a P/E/G ratio of 1.45 and a beta of 2.00. WESCO International has a 12 month low of $143.06 and a 12 month high of $216.17. The company has a current ratio of 2.20, a quick ratio of 1.27 and a debt-to-equity ratio of 1.02.

WESCO International (NYSE:WCC) last issued its quarterly earnings data on Tuesday, February 11th. The technology company reported $3.16 earnings per share 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, analysts forecast that WESCO International will post 13.3 earnings per share for the current fiscal year.

WESCO International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a dividend of $0.4538 per share. This represents a $1.82 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date was Friday, March 14th. This is a positive change from WESCO International’s previous quarterly dividend of $0.41. WESCO International’s dividend payout ratio (DPR) is 13.85%.

Institutional Investors Weigh In On WESCO International

Large investors have recently bought and sold shares of the company. Burns Matteson Capital Management LLC bought a new stake in shares of WESCO International during the 4th quarter worth $390,000. Geode Capital Management LLC lifted its holdings in shares of WESCO International by 3.0% in the third quarter. Geode Capital Management LLC now owns 762,653 shares of the technology company’s stock worth $128,143,000 after acquiring an additional 22,080 shares during the last quarter. Handelsbanken Fonder AB boosted its stake in shares of WESCO International by 167.3% in the 4th quarter. Handelsbanken Fonder AB now owns 192,182 shares of the technology company’s stock valued at $34,777,000 after purchasing an additional 120,289 shares in the last quarter. Integrated Investment Consultants LLC bought a new stake in shares of WESCO International during the 4th quarter valued at approximately $278,000. Finally, MassMutual Private Wealth & Trust FSB increased its position in WESCO International by 12,056.3% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 11,670 shares of the technology company’s stock worth $2,112,000 after purchasing an additional 11,574 shares in the last quarter. 93.76% of the stock is currently owned by institutional investors and hedge funds.

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).