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

WESCO International, Inc. (NYSE:WCC) was the target of a significant decline in short interest during the month of September. As of September 30th, there was short interest totalling 1,160,000 shares, a decline of 42.3% from the September 15th total of 2,010,000 shares. Approximately 2.6% of the company’s stock are short sold. Based on an average daily trading volume, of 705,500 shares, the short-interest ratio is presently 1.6 days.

Insider Buying and Selling

In other WESCO International news, Director Steven A. Raymund sold 5,819 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $171.56, for a total transaction of $998,307.64. Following the completion of the sale, the director now owns 27,004 shares in the company, valued at $4,632,806.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On WESCO International

Several institutional investors have recently bought and sold shares of the stock. Pacer Advisors Inc. grew its stake in shares of WESCO International by 23,727.4% in the 2nd quarter. Pacer Advisors Inc. now owns 1,589,048 shares of the technology company’s stock worth $251,896,000 after purchasing an additional 1,582,379 shares during the last quarter. Clearbridge Investments LLC bought a new position in shares of WESCO International in the second quarter valued at $52,782,000. Neo Ivy Capital Management bought a new position in shares of WESCO International in the second quarter valued at $5,916,000. Russell Investments Group Ltd. increased its holdings in shares of WESCO International by 74.8% in the first quarter. Russell Investments Group Ltd. now owns 72,897 shares of the technology company’s stock valued at $12,486,000 after buying an additional 31,200 shares in the last quarter. Finally, Hosking Partners LLP increased its holdings in shares of WESCO International by 68.6% in the first quarter. Hosking Partners LLP now owns 63,577 shares of the technology company’s stock valued at $10,889,000 after buying an additional 25,864 shares in the last quarter. Institutional investors and hedge funds own 93.76% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on WCC. Robert W. Baird lowered their target price on shares of WESCO International from $195.00 to $172.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Loop Capital boosted their target price on shares of WESCO International from $190.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Royal Bank of Canada upped their price target on shares of WESCO International from $171.00 to $187.00 and gave the stock a “sector perform” rating in a research report on Friday, September 27th. KeyCorp lowered their price target on shares of WESCO International from $205.00 to $195.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Finally, Stephens restated an “overweight” rating and set a $190.00 price target on shares of WESCO International in a research report on Monday, August 5th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $189.86.

WESCO International Price Performance

WCC stock traded up $5.64 during trading on Friday, hitting $172.39. The company had a trading volume of 232,667 shares, compared to its average volume of 692,150. The firm has a market capitalization of $8.47 billion, a price-to-earnings ratio of 12.94, a P/E/G ratio of 1.37 and a beta of 2.03. The business has a 50 day moving average of $161.03 and a 200 day moving average of $166.45. WESCO International has a fifty-two week low of $122.30 and a fifty-two week high of $195.43. The company has a current ratio of 2.28, a quick ratio of 1.34 and a debt-to-equity ratio of 1.07.

WESCO International (NYSE:WCC) last posted its quarterly earnings data on Thursday, August 1st. The technology company reported $3.21 earnings per share for the quarter, missing the consensus estimate of $3.48 by ($0.27). The company had revenue of $5.48 billion during the quarter, compared to analyst estimates of $5.55 billion. WESCO International had a return on equity of 14.44% and a net margin of 3.30%. The business’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same period in the previous year, the company earned $3.71 EPS. As a group, research analysts predict that WESCO International will post 12.14 earnings per share for the current year.

WESCO International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were issued a $0.4125 dividend. This represents a $1.65 annualized dividend and a yield of 0.96%. The ex-dividend date was Friday, September 13th. WESCO International’s payout ratio is currently 12.81%.

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).