WESCO International, Inc. (NYSE:WCC) Short Interest Up 22.9% in February

WESCO International, Inc. (NYSE:WCC) was the target of a large growth in short interest in the month of February. As of February 15th, there was short interest totalling 1,450,000 shares, a growth of 22.9% from the January 31st total of 1,180,000 shares. Approximately 3.0% of the company’s stock are sold short. Based on an average daily volume of 671,200 shares, the days-to-cover ratio is presently 2.2 days.

Institutional Trading of WESCO International

Several institutional investors and hedge funds have recently modified their holdings of the business. V Square Quantitative Management LLC grew its position in WESCO International by 39.9% in the fourth 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 last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of WESCO International by 43.5% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 267 shares of the technology company’s stock valued at $48,000 after purchasing an additional 81 shares during the last quarter. GAMMA Investing LLC increased its position in WESCO International by 25.0% during the 4th quarter. GAMMA Investing LLC now owns 375 shares of the technology company’s stock worth $68,000 after purchasing an additional 75 shares in the last quarter. Millstone Evans Group LLC bought a new position in WESCO International in the 4th quarter valued at approximately $122,000. Finally, Raiffeisen Bank International AG acquired a new stake in WESCO International in the fourth quarter valued at approximately $180,000. 93.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on WCC shares. 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. Royal Bank of Canada lifted their target price on shares of WESCO International from $212.00 to $213.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 12th. StockNews.com lowered shares of WESCO International from a “buy” rating to a “hold” rating in a research note on Wednesday, February 12th. Stephens boosted their price objective on WESCO International from $205.00 to $215.00 and gave the stock an “overweight” rating in a report on Tuesday, February 18th. Finally, KeyCorp increased their target price on WESCO International from $225.00 to $245.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, WESCO International currently has a consensus rating of “Moderate Buy” and an average target price of $218.88.

WESCO International Price Performance

Shares of WCC traded down $1.88 during trading hours on Friday, hitting $165.99. 401,847 shares of the company were exchanged, compared to its average volume of 706,174. The company has a market cap of $8.10 billion, a price-to-earnings ratio of 12.70, a P/E/G ratio of 1.45 and a beta of 2.00. The company has a quick ratio of 1.27, a current ratio of 2.20 and a debt-to-equity ratio of 1.02. WESCO International has a fifty-two week low of $143.06 and a fifty-two week high of $216.17. The firm’s fifty day moving average is $185.52 and its 200 day moving average is $182.32.

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

WESCO International Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a $0.4538 dividend. This is a positive change from WESCO International’s previous quarterly dividend of $0.41. The ex-dividend date is Friday, March 14th. This represents a $1.82 annualized dividend and a dividend yield of 1.09%. WESCO International’s dividend payout ratio (DPR) is presently 13.85%.

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).