WESCO International, Inc. (NYSE:WCC) Short Interest Update

WESCO International, Inc. (NYSE:WCC - Get Free Report) saw a large growth in short interest in 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. Based on an average trading volume of 766,600 shares, the days-to-cover ratio is presently 2.3 days. Currently, 3.8% of the shares of the company are sold short.

WESCO International Trading Down 6.7 %

Shares of WESCO International stock traded down $9.56 during midday trading on Friday, reaching $134.16. 1,030,610 shares of the company's stock traded hands, compared to its average volume of 769,053. The company has a market cap of $6.55 billion, a PE ratio of 10.25, a price-to-earnings-growth ratio of 1.45 and a beta of 1.83. The stock has a 50 day moving average of $175.25 and a 200-day moving average of $182.54. WESCO International has a 12 month low of $129.26 and a 12 month high of $216.17. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.27 and a current ratio of 2.20.

WESCO International (NYSE:WCC - Get Free Report) last announced 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, equities analysts expect that WESCO International will post 13.3 EPS for the current fiscal year.

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WESCO International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a $0.4538 dividend. This represents a $1.82 annualized dividend and a yield of 1.35%. This is a boost from WESCO International's previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Friday, March 14th. WESCO International's dividend payout ratio is presently 13.85%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Jefferies Financial Group upped their price objective on shares of WESCO International from $225.00 to $245.00 and gave the company a "buy" rating in a report on Friday, December 6th. Stephens raised their price objective 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. Royal Bank of Canada boosted their target price on shares of WESCO International from $212.00 to $213.00 and gave the company a "sector perform" rating in a report on Wednesday, February 12th. KeyCorp cut their price target on WESCO International from $245.00 to $205.00 and set an "overweight" rating for the company in a report on Monday, March 17th. Finally, StockNews.com lowered WESCO International from a "buy" rating to a "hold" 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, WESCO International has a consensus rating of "Moderate Buy" and an average price target of $219.43.

Institutional Trading of WESCO International

Hedge funds have recently modified their holdings of the business. Burns Matteson Capital Management LLC purchased a new position in WESCO International during the 4th quarter valued at about $390,000. Geode Capital Management LLC lifted its holdings in shares of WESCO International by 3.0% during the third quarter. Geode Capital Management LLC now owns 762,653 shares of the technology company's stock valued at $128,143,000 after purchasing an additional 22,080 shares during the last quarter. Handelsbanken Fonder AB boosted its position in shares of WESCO International by 167.3% in the 4th quarter. Handelsbanken Fonder AB now owns 192,182 shares of the technology company's stock worth $34,777,000 after purchasing an additional 120,289 shares in the last quarter. Integrated Investment Consultants LLC purchased a new stake in shares of WESCO International in the 4th quarter worth approximately $278,000. Finally, MassMutual Private Wealth & Trust FSB raised its stake in WESCO International by 12,056.3% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 11,670 shares of the technology company's stock valued at $2,112,000 after buying an additional 11,574 shares during the last quarter. Institutional investors own 93.76% of the company's stock.

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).