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

WESCO International, Inc. (NYSE:WCC) saw a significant 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 short sold. Based on an average trading volume of 766,600 shares, the short-interest ratio is presently 2.3 days.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. KeyCorp dropped 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. Stephens lifted their price target on WESCO International from $205.00 to $215.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. StockNews.com downgraded shares of WESCO International from a “buy” rating to a “hold” rating in a research report on Wednesday, February 12th. 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. Finally, Royal Bank of Canada upped their target price on shares of WESCO International from $212.00 to $213.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 12th. Two 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’s stock. Based on data from MarketBeat, WESCO International currently has an average rating of “Moderate Buy” and a consensus price target of $219.43.

WESCO International Trading Up 3.7 %

WCC traded up $5.86 during trading on Wednesday, reaching $162.28. 640,020 shares of the company’s stock were exchanged, compared to its average volume of 739,203. The company’s fifty day moving average price is $177.05 and its 200-day moving average price is $182.96. The firm has a market capitalization of $7.92 billion, a PE ratio of 12.42, a P/E/G ratio of 1.45 and a beta of 2.00. WESCO International has a fifty-two week low of $143.06 and a fifty-two week 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) last announced its quarterly earnings data on Tuesday, February 11th. The technology company reported $3.16 EPS for the quarter, missing analysts’ consensus estimates of $3.23 by ($0.07). WESCO International had a return on equity of 13.63% and a net margin of 3.29%. As a group, equities analysts forecast that WESCO International will post 13.3 EPS for the current year.

WESCO International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a dividend of $0.4538 per share. The ex-dividend date was Friday, March 14th. This represents a $1.82 dividend on an annualized basis and a yield of 1.12%. This is a boost from WESCO International’s previous quarterly dividend of $0.41. WESCO International’s payout ratio is currently 13.85%.

Institutional Investors Weigh In On WESCO International

Several hedge funds have recently bought and sold shares of WCC. V Square Quantitative Management LLC increased 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 valued at $43,000 after buying an additional 67 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of WESCO International by 43.5% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 267 shares of the technology company’s stock worth $48,000 after acquiring an additional 81 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of WESCO International by 25.0% in the fourth quarter. GAMMA Investing LLC now owns 375 shares of the technology company’s stock worth $68,000 after acquiring an additional 75 shares in the last quarter. Millstone Evans Group LLC acquired a new stake in shares of WESCO International during the fourth quarter worth about $122,000. Finally, Raiffeisen Bank International AG bought a new position in shares of WESCO International during the 4th quarter valued at about $180,000. 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).