Short Interest in WESCO International, Inc. (NYSE:WCC) Rises By 28.6%

WESCO International, Inc. (NYSE:WCC) saw a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 1,800,000 shares, an increase of 28.6% from the February 28th total of 1,400,000 shares. Based on an average daily volume of 766,600 shares, the short-interest ratio is presently 2.3 days. Currently, 3.8% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

WCC has been the subject of a number of recent research reports. Jefferies Financial Group increased their price objective on WESCO International from $225.00 to $245.00 and gave the company a “buy” rating in a report on Friday, December 6th. Royal Bank of Canada increased their price target 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. KeyCorp cut their price objective on WESCO International from $245.00 to $205.00 and set an “overweight” rating on the stock in a research note on Monday, March 17th. StockNews.com downgraded shares of WESCO International from a “buy” rating to a “hold” rating in a research report on Wednesday, February 12th. Finally, Stephens raised their price target on shares of 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 issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, WESCO International presently has an average rating of “Moderate Buy” and a consensus target price of $219.43.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Ameriprise Financial Inc. lifted its stake in WESCO International by 149.3% in the fourth quarter. Ameriprise Financial Inc. now owns 255,035 shares of the technology company’s stock valued at $46,148,000 after purchasing an additional 152,727 shares during the last quarter. Handelsbanken Fonder AB raised its stake in shares of WESCO International by 167.3% in the fourth quarter. Handelsbanken Fonder AB now owns 192,182 shares of the technology company’s stock valued at $34,777,000 after buying an additional 120,289 shares during the period. Russell Investments Group Ltd. lifted its position in shares of WESCO International by 62.9% during the 4th quarter. Russell Investments Group Ltd. now owns 215,002 shares of the technology company’s stock valued at $38,906,000 after buying an additional 83,031 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of WESCO International by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 762,653 shares of the technology company’s stock valued at $128,143,000 after buying an additional 22,080 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its stake in shares of WESCO International by 12,056.3% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 11,670 shares of the technology company’s stock worth $2,112,000 after acquiring an additional 11,574 shares during the period. 93.76% of the stock is owned by institutional investors.

WESCO International Stock Down 0.7 %

WESCO International stock traded down $1.14 during midday trading on Monday, hitting $155.29. 802,315 shares of the stock were exchanged, compared to its average volume of 740,065. The business’s 50-day moving average price is $177.90 and its 200-day moving average price is $182.98. 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 52-week low of $143.06 and a 52-week high of $216.17. The stock has a market capitalization of $7.58 billion, a price-to-earnings ratio of 11.88, a price-to-earnings-growth ratio of 1.45 and a beta of 2.00.

WESCO International (NYSE:WCC) last announced its earnings results on Tuesday, February 11th. The technology company reported $3.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.23 by ($0.07). WESCO International had a net margin of 3.29% and a return on equity of 13.63%. On average, research analysts expect that WESCO International will post 13.3 EPS for the current fiscal year.

WESCO International Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $0.4538 dividend. This represents a $1.82 dividend on an annualized basis and a yield of 1.17%. This is a boost from WESCO International’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Friday, March 14th. WESCO International’s payout ratio 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).