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

WESCO International, Inc. (NYSE:WCC) saw a large growth in short interest during the month of 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. Based on an average daily volume of 766,600 shares, the days-to-cover ratio is currently 2.3 days. Approximately 3.8% of the company’s stock are short sold.

WESCO International Stock Performance

Shares of NYSE WCC traded up $1.09 during midday trading on Tuesday, hitting $156.39. 598,552 shares of the company’s stock traded hands, compared to its average volume of 739,598. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.27 and a current ratio of 2.20. The stock has a market capitalization of $7.63 billion, a price-to-earnings ratio of 11.97, a price-to-earnings-growth ratio of 1.45 and a beta of 2.00. The firm has a fifty day moving average of $177.05 and a 200 day moving average of $182.96. WESCO International has a 1 year low of $143.06 and a 1 year high of $216.17.

WESCO International (NYSE:WCC) last released its quarterly earnings results 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 year.

WESCO International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a $0.4538 dividend. This is a boost from WESCO International’s previous quarterly dividend of $0.41. The ex-dividend date was Friday, March 14th. This represents a $1.82 dividend on an annualized basis and a yield of 1.16%. WESCO International’s dividend payout ratio is presently 13.85%.

Wall Street Analyst Weigh In

WCC has been the topic of several analyst reports. Royal Bank of Canada upped their target price 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. StockNews.com cut WESCO International from a “buy” rating to a “hold” rating in a research report on Wednesday, February 12th. Jefferies Financial Group lifted their target price on WESCO International from $225.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, December 6th. KeyCorp lowered their price target on WESCO International from $245.00 to $205.00 and set an “overweight” rating on the stock in a report on Monday, March 17th. Finally, Stephens lifted 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. 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 company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $219.43.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Covestor Ltd boosted its position in shares of WESCO International by 5.5% in the fourth quarter. Covestor Ltd now owns 1,198 shares of the technology company’s stock worth $216,000 after purchasing an additional 62 shares during the period. V Square Quantitative Management LLC lifted its stake 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 buying an additional 67 shares in the last quarter. GAMMA Investing LLC increased its stake in WESCO International by 25.0% in the 4th quarter. GAMMA Investing LLC now owns 375 shares of the technology company’s stock worth $68,000 after buying an additional 75 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings in WESCO International by 43.5% during 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 period. Finally, MetLife Investment Management LLC boosted its stake in shares of WESCO International by 0.4% in 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. 93.76% of the stock is currently owned by institutional investors.

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).