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

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

WESCO International Stock Performance

Shares of NYSE:WCC traded up $0.85 on Monday, hitting $212.42. 231,841 shares of the company were exchanged, compared to its average volume of 701,242. 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’s 50 day moving average price is $186.13 and its 200 day moving average price is $173.27. WESCO International has a 1-year low of $132.37 and a 1-year high of $216.17. The firm has a market capitalization of $10.41 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 announced its quarterly earnings data on Thursday, October 31st. The technology company reported $3.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.22 by $0.36. WESCO International had a return on equity of 13.19% and a net margin of 3.19%. The firm had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.46 billion. During the same period last year, the business posted $4.49 earnings per share. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. Sell-side analysts predict that WESCO International will post 12.24 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have issued reports on WCC shares. Royal Bank of Canada lifted their target price on WESCO International from $186.00 to $199.00 and gave the company a “sector perform” rating in a research note on Friday, November 1st. Baird R W raised shares of WESCO International from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 16th. Loop Capital increased their target price on shares of WESCO International from $190.00 to $210.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Oppenheimer lifted their price target on shares of WESCO International from $205.00 to $225.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, Robert W. Baird increased their price objective on WESCO International from $215.00 to $223.00 and gave the company an “outperform” rating in a report on Friday, November 1st. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, WESCO International presently has a consensus rating of “Buy” and an average target price of $208.86.

Insiders Place Their Bets

In other WESCO International news, EVP Nelson John Squires III sold 10,000 shares of the firm’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $190.00, for a total transaction of $1,900,000.00. Following the transaction, the executive vice president now owns 54,621 shares of the company’s stock, valued at approximately $10,377,990. This trade represents a 15.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Steven A. Raymund sold 5,819 shares of the stock in a transaction that occurred 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 transaction, the director now owns 27,004 shares in the company, valued at approximately $4,632,806.24. This represents a 17.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,586 shares of company stock valued at $6,565,762 over the last three months. 3.10% of the stock is owned by company insiders.

Institutional Trading of WESCO International

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Whittier Trust Co. of Nevada Inc. grew its position in WESCO International by 71.1% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 166 shares of the technology company’s stock worth $26,000 after purchasing an additional 69 shares during the period. Fifth Third Wealth Advisors LLC boosted its stake in shares of WESCO International by 1.7% in the third quarter. Fifth Third Wealth Advisors LLC now owns 4,335 shares of the technology company’s stock worth $728,000 after buying an additional 71 shares during the last quarter. MetLife Investment Management LLC grew its holdings in WESCO International by 0.4% during the third quarter. MetLife Investment Management LLC now owns 23,102 shares of the technology company’s stock worth $3,881,000 after acquiring an additional 85 shares during the period. UMB Bank n.a. raised its position in WESCO International by 18.3% during the third quarter. UMB Bank n.a. now owns 633 shares of the technology company’s stock valued at $106,000 after acquiring an additional 98 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in WESCO International by 65.4% in the second quarter. GAMMA Investing LLC now owns 253 shares of the technology company’s stock valued at $40,000 after acquiring an additional 100 shares during the period. Institutional investors and hedge funds own 93.76% of the company’s stock.

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).