WESCO International, Inc. (NYSE:WCC) Short Interest Up 27.8% in November

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

WESCO International Stock Performance

Shares of WESCO International stock traded up $0.85 during trading hours on Monday, reaching $212.42. 231,841 shares of the stock traded hands, compared to its average volume of 701,242. WESCO International has a one year low of $132.37 and a one year high of $216.17. The firm has a market capitalization of $10.41 billion, a price-to-earnings ratio of 16.94, a P/E/G ratio of 1.73 and a beta of 2.01. The company has a quick ratio of 1.29, a current ratio of 2.21 and a debt-to-equity ratio of 0.99. The company has a 50 day moving average price of $186.13 and a 200 day moving average price of $173.27.

WESCO International (NYSE:WCC) last announced its earnings results on Thursday, October 31st. The technology company reported $3.58 EPS for the quarter, beating analysts’ consensus estimates of $3.22 by $0.36. The business had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.46 billion. WESCO International had a net margin of 3.19% and a return on equity of 13.19%. The firm’s revenue was down 2.7% on a year-over-year basis. During the same period in the prior year, the company earned $4.49 earnings per share. On average, equities research analysts expect that WESCO International will post 12.24 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Baird R W upgraded WESCO International from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 16th. Oppenheimer lifted their target price 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. Robert W. Baird increased their price target on shares of WESCO International from $215.00 to $223.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Loop Capital boosted their price target on WESCO International from $190.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Finally, Royal Bank of Canada lifted their price objective on WESCO International from $186.00 to $199.00 and gave the stock a “sector perform” 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. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $208.86.

Insider Buying and Selling at WESCO International

In related news, Director Steven A. Raymund sold 5,819 shares of WESCO International stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $171.56, for a total transaction of $998,307.64. Following the sale, the director now directly owns 27,004 shares in the company, valued at $4,632,806.24. The trade was a 17.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP William Clayton Geary sold 2,829 shares of the company’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $205.73, for a total transaction of $582,010.17. Following the completion of the sale, the executive vice president now directly owns 35,063 shares in the company, valued at $7,213,510.99. This represents a 7.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,586 shares of company stock worth $6,565,762 over the last three months. Company insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Whittier Trust Co. of Nevada Inc. grew its position in shares of WESCO International by 71.1% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 166 shares of the technology company’s stock valued at $26,000 after purchasing an additional 69 shares in the last quarter. Fifth Third Wealth Advisors LLC grew its holdings 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 valued at $728,000 after purchasing an additional 71 shares in the last quarter. MetLife Investment Management LLC increased its holdings in shares of WESCO International by 0.4% in the 3rd quarter. MetLife Investment Management LLC now owns 23,102 shares of the technology company’s stock worth $3,881,000 after buying an additional 85 shares during the last quarter. UMB Bank n.a. raised its position in shares of WESCO International by 18.3% during the 3rd quarter. UMB Bank n.a. now owns 633 shares of the technology company’s stock valued at $106,000 after buying an additional 98 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in WESCO International by 65.4% in the second quarter. GAMMA Investing LLC now owns 253 shares of the technology company’s stock worth $40,000 after acquiring an additional 100 shares in the last quarter. Institutional investors 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).