WESCO International, Inc. (NYSE:WCC) Short Interest Down 14.2% in April

WESCO International, Inc. (NYSE:WCC) saw a large decrease in short interest during the month of April. As of April 15th, there was short interest totalling 1,090,000 shares, a decrease of 14.2% from the March 31st total of 1,270,000 shares. Currently, 2.5% of the company’s stock are short sold. Based on an average daily trading volume, of 637,700 shares, the short-interest ratio is currently 1.7 days.

WESCO International Stock Performance

Shares of NYSE WCC opened at $155.80 on Monday. The stock has a market capitalization of $7.94 billion, a PE ratio of 11.51, a price-to-earnings-growth ratio of 1.10 and a beta of 2.06. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.42 and a current ratio of 2.48. WESCO International has a 52 week low of $121.90 and a 52 week high of $195.43. The stock has a 50 day moving average price of $159.77 and a 200 day moving average price of $159.33.

WESCO International (NYSE:WCC) last released its earnings results on Tuesday, February 13th. The technology company reported $2.65 EPS for the quarter, missing analysts’ consensus estimates of $3.86 by ($1.21). The firm had revenue of $5.50 billion during the quarter, compared to the consensus estimate of $5.59 billion. WESCO International had a net margin of 3.42% and a return on equity of 17.01%. The firm’s revenue was down 1.8% compared to the same quarter last year. During the same period in the prior year, the company earned $4.13 EPS. Analysts predict that WESCO International will post 14.19 earnings per share for the current fiscal year.

WESCO International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a dividend of $0.4125 per share. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from WESCO International’s previous quarterly dividend of $0.38. This represents a $1.65 dividend on an annualized basis and a dividend yield of 1.06%. WESCO International’s dividend payout ratio (DPR) is 12.19%.

Wall Street Analyst Weigh In

WCC has been the topic of a number of analyst reports. Robert W. Baird cut their price objective on shares of WESCO International from $203.00 to $170.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 14th. JPMorgan Chase & Co. decreased their price objective on WESCO International from $180.00 to $175.00 and set an “overweight” rating for the company in a research report on Friday, March 15th. KeyCorp upped their price target on WESCO International from $165.00 to $190.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Oppenheimer boosted their price objective on shares of WESCO International from $175.00 to $190.00 and gave the company an “outperform” rating in a research report on Thursday, March 7th. Finally, Royal Bank of Canada downgraded shares of WESCO International from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from $202.00 to $173.00 in a report on Tuesday, February 13th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, WESCO International has a consensus rating of “Moderate Buy” and a consensus price target of $184.67.

Insider Buying and Selling at WESCO International

In other WESCO International news, EVP James Cameron sold 5,352 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $156.39, for a total value of $836,999.28. Following the completion of the sale, the executive vice president now owns 33,595 shares of the company’s stock, valued at $5,253,922.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other WESCO International news, EVP Nelson John Squires III sold 3,490 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $190.00, for a total value of $663,100.00. Following the completion of the sale, the executive vice president now owns 54,385 shares in the company, valued at approximately $10,333,150. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP James Cameron sold 5,352 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $156.39, for a total transaction of $836,999.28. Following the completion of the transaction, the executive vice president now directly owns 33,595 shares of the company’s stock, valued at $5,253,922.05. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On WESCO International

Several institutional investors have recently bought and sold shares of WCC. Shaker Investments LLC OH lifted its position in shares of WESCO International by 14.0% in the third quarter. Shaker Investments LLC OH now owns 46,815 shares of the technology company’s stock valued at $6,733,000 after acquiring an additional 5,752 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in WESCO International by 1.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 417,250 shares of the technology company’s stock worth $60,009,000 after buying an additional 4,187 shares during the last quarter. New York State Teachers Retirement System increased its position in shares of WESCO International by 50.5% during the third quarter. New York State Teachers Retirement System now owns 20,108 shares of the technology company’s stock worth $2,892,000 after purchasing an additional 6,747 shares in the last quarter. Handelsinvest Investeringsforvaltning acquired a new position in WESCO International in the 3rd quarter valued at about $3,883,000. Finally, FDx Advisors Inc. increased its position in WESCO International by 7.3% during the 3rd quarter. FDx Advisors Inc. now owns 1,555 shares of the technology company’s stock worth $224,000 after purchasing an additional 106 shares during the period. 93.76% of the stock is currently owned by institutional investors and hedge funds.

About WESCO International

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).