WESCO International, Inc. (NYSE:WCC) Short Interest Up 28.6% in March

WESCO International, Inc. (NYSE:WCC) was the target of 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. Approximately 3.8% of the shares of the stock are sold short. Based on an average trading volume of 766,600 shares, the days-to-cover ratio is presently 2.3 days.

WESCO International Trading Up 0.7 %

WESCO International stock traded up $1.09 during mid-day trading on Tuesday, hitting $156.39. The company’s stock had a trading volume of 598,552 shares, compared to its average volume of 739,598. The business has a 50 day moving average price of $177.05 and a 200-day moving average price of $182.96. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.20 and a quick ratio of 1.27. WESCO International has a 12 month low of $143.06 and a 12 month high of $216.17. The stock has a market cap 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.

WESCO International (NYSE:WCC) last released its 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 net margin of 3.29% and a return on equity of 13.63%. As a group, analysts forecast that WESCO International will post 13.3 EPS for the current year.

WESCO International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued 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 annualized dividend and a dividend yield of 1.16%. WESCO International’s dividend payout ratio (DPR) is currently 13.85%.

Wall Street Analyst Weigh In

WCC has been the subject of a number of research analyst reports. StockNews.com downgraded WESCO International from a “buy” rating to a “hold” rating in a research report on Wednesday, February 12th. Stephens boosted their price target on shares of WESCO International from $205.00 to $215.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 18th. Jefferies Financial Group raised their price objective on shares of WESCO International from $225.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, December 6th. KeyCorp cut their target price on shares of WESCO International from $245.00 to $205.00 and set an “overweight” rating for the company in a research report on Monday, March 17th. Finally, Royal Bank of Canada increased their target price on WESCO International from $212.00 to $213.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 12th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $219.43.

Hedge Funds Weigh In On WESCO International

Hedge funds and other institutional investors have recently modified their holdings of the company. V Square Quantitative Management LLC lifted its position in shares of WESCO International by 39.9% in the 4th quarter. V Square Quantitative Management LLC now owns 235 shares of the technology company’s stock worth $43,000 after purchasing an additional 67 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its position in 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 acquiring an additional 81 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of 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 acquiring an additional 75 shares during the period. Millstone Evans Group LLC bought a new position in shares of WESCO International in the 4th quarter worth approximately $122,000. Finally, Raiffeisen Bank International AG purchased a new position in shares of WESCO International in the 4th quarter valued at approximately $180,000. 93.76% of the stock is 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).