WESCO International, Inc. (NYSE:WCC) Short Interest Down 24.4% in March

WESCO International, Inc. (NYSE:WCC) was the target of a large decrease in short interest in March. As of March 31st, there was short interest totalling 1,360,000 shares, a decrease of 24.4% from the March 15th total of 1,800,000 shares. Approximately 2.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 808,900 shares, the short-interest ratio is presently 1.7 days.

WESCO International Trading Up 2.0 %

Shares of WCC stock opened at $150.80 on Monday. The company has a 50 day moving average of $164.69 and a 200-day moving average of $180.63. 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 12-month low of $125.21 and a 12-month high of $216.17. The firm has a market cap of $7.36 billion, a P/E ratio of 11.54, a PEG ratio of 1.45 and a beta of 1.83.

WESCO International (NYSE:WCC) last issued its quarterly earnings results 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%. Sell-side analysts anticipate that WESCO International will post 13.3 earnings per share for the current year.

WESCO International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a dividend of $0.4538 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.82 annualized dividend and a yield of 1.20%. This is a positive change from WESCO International’s previous quarterly dividend of $0.41. WESCO International’s dividend payout ratio (DPR) is currently 13.85%.

Analyst Upgrades and Downgrades

WCC has been the topic of a number of recent research reports. KeyCorp decreased their price objective on WESCO International from $245.00 to $205.00 and set an “overweight” rating on the stock in a research report on Monday, March 17th. StockNews.com downgraded WESCO International from a “buy” rating to a “hold” rating in a research note on Wednesday, February 12th. Stephens raised their price objective on WESCO International from $205.00 to $215.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. Finally, Royal Bank of Canada boosted their target price on shares of WESCO International from $212.00 to $213.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 12th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently 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 added to or reduced their stakes in WCC. V Square Quantitative Management LLC raised its position in WESCO International by 39.9% in the 4th quarter. V Square Quantitative Management LLC now owns 235 shares of the technology company’s stock worth $43,000 after buying an additional 67 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its stake in WESCO International by 43.5% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 267 shares of the technology company’s stock worth $48,000 after buying an additional 81 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of WESCO International by 25.0% during the 4th quarter. GAMMA Investing LLC now owns 375 shares of the technology company’s stock valued at $68,000 after purchasing an additional 75 shares during the last quarter. Parallel Advisors LLC grew its position in WESCO International by 21.1% in the first quarter. Parallel Advisors LLC now owns 447 shares of the technology company’s stock worth $69,000 after acquiring an additional 78 shares in the last quarter. Finally, Millstone Evans Group LLC bought a new stake in shares of WESCO International in the 4th quarter worth about $122,000. 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).