WESCO International, Inc. (NYSE:WCC) was the target of a significant decrease in short interest during the month of September. As of September 15th, there was short interest totalling 1,120,000 shares, a decrease of 6.7% from the August 15th total of 1,200,000 shares. Approximately 2.7% of the shares of the company are short sold. Based on an average daily volume of 495,300 shares, the short-interest ratio is currently 2.3 days.
Several large investors have recently bought and sold shares of WCC. Geode Capital Management LLC lifted its position in shares of WESCO International by 19.7% during the fourth quarter. Geode Capital Management LLC now owns 532,778 shares of the technology company’s stock worth $25,573,000 after acquiring an additional 87,644 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of WESCO International in the first quarter worth $273,000. New York State Common Retirement Fund increased its holdings in shares of WESCO International by 16.6% in the first quarter. New York State Common Retirement Fund now owns 208,584 shares of the technology company’s stock worth $11,057,000 after purchasing an additional 29,766 shares during the period. Parametric Portfolio Associates LLC increased its holdings in shares of WESCO International by 12.4% in the first quarter. Parametric Portfolio Associates LLC now owns 190,375 shares of the technology company’s stock worth $10,092,000 after purchasing an additional 20,960 shares during the period. Finally, Paradigm Capital Management Inc. NY bought a new position in shares of WESCO International in the first quarter worth $1,299,000.
Several equities analysts recently commented on WCC shares. ValuEngine downgraded WESCO International from a “sell” rating to a “strong sell” rating in a research note on Friday, July 12th. Buckingham Research downgraded WESCO International from a “buy” rating to a “neutral” rating in a research note on Friday, August 2nd. Oppenheimer reiterated a “hold” rating on shares of WESCO International in a research note on Friday, September 6th. Robert W. Baird upgraded WESCO International from a “neutral” rating to an “outperform” rating and set a $54.00 price objective on the stock in a research note on Thursday, August 22nd. Finally, Northcoast Research downgraded WESCO International from a “buy” rating to a “neutral” rating in a research note on Friday, August 2nd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $55.00.
Shares of NYSE:WCC traded up $0.49 during trading on Monday, hitting $47.77. 359,514 shares of the company were exchanged, compared to its average volume of 521,289. The company has a market cap of $2.01 billion, a PE ratio of 9.91, a P/E/G ratio of 0.90 and a beta of 1.74. The stock has a 50 day moving average of $45.45 and a 200 day moving average of $49.98. WESCO International has a 52-week low of $42.03 and a 52-week high of $61.96. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.30 and a quick ratio of 1.41.
WESCO International (NYSE:WCC) last posted its earnings results on Thursday, August 1st. The technology company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.01. The firm had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.17 billion. WESCO International had a return on equity of 10.63% and a net margin of 2.82%. The business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.22 earnings per share. Sell-side analysts forecast that WESCO International will post 5.18 EPS for the current fiscal year.
WESCO International Company Profile
WESCO International, Inc distributes electrical, industrial, and communications maintenance, repair and operating (MRO) and original equipment manufacturers products and construction materials in North America and internationally. The company sells general supplies, such as wiring devices, fuses, terminals, connectors, boxes, enclosures, fittings, lugs, terminations, wraps, splicing and marking equipment, tools and testers, safety, personal protection, sealants, cutting tools, adhesives, consumables, fasteners, janitorial, and other MRO supplies.
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