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

WESCO International, Inc. (NYSE:WCC - Get Free Report) saw a large drop in short interest in the month of March. As of March 31st, there was short interest totalling 1,270,000 shares, a drop of 23.0% from the March 15th total of 1,650,000 shares. Based on an average daily trading volume, of 593,500 shares, the short-interest ratio is currently 2.1 days. Approximately 2.9% of the company's shares are sold short.

Insider Activity

In other news, EVP James Cameron sold 5,352 shares of the company's stock in a transaction on Monday, March 11th. The stock was sold at an average price of $156.39, for a total transaction of $836,999.28. Following the transaction, 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 at this hyperlink. In other WESCO International news, EVP Nelson John Squires III sold 3,490 shares of the company's stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $190.00, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP James Cameron sold 5,352 shares of the firm's stock in a transaction on 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 transaction, the executive vice president now owns 33,595 shares in the company, valued at $5,253,922.05. The disclosure for this sale can be found here. Insiders own 2.60% of the company's stock.

Institutional Investors Weigh In On WESCO International

Several institutional investors have recently bought and sold shares of WCC. Lyrical Asset Management LP raised its holdings in WESCO International by 2,583.9% during the fourth quarter. Lyrical Asset Management LP now owns 765,124 shares of the technology company's stock worth $133,040,000 after acquiring an additional 736,616 shares in the last quarter. River Road Asset Management LLC acquired a new position in shares of WESCO International in the fourth quarter valued at $79,404,000. Eagle Asset Management Inc. raised its position in shares of WESCO International by 29.4% in the fourth quarter. Eagle Asset Management Inc. now owns 190,100 shares of the technology company's stock valued at $23,711,000 after purchasing an additional 43,238 shares during the period. Handelsinvest Investeringsforvaltning acquired a new stake in shares of WESCO International during the 3rd quarter worth about $3,883,000. Finally, State of Tennessee Treasury Department bought a new stake in shares of WESCO International during the 2nd quarter worth about $4,078,000. Institutional investors own 93.76% of the company's stock.

WESCO International Stock Down 2.4 %

WCC traded down $3.95 during trading on Friday, reaching $161.56. The company had a trading volume of 669,769 shares, compared to its average volume of 474,003. The business's fifty day moving average price is $162.51 and its 200 day moving average price is $158.36. The company has a debt-to-equity ratio of 1.06, a current ratio of 2.48 and a quick ratio of 1.42. WESCO International has a 12 month low of $121.90 and a 12 month high of $195.43. The company has a market cap of $8.23 billion, a P/E ratio of 11.93, a PEG ratio of 1.17 and a beta of 2.06.

WESCO International (NYSE:WCC - Get Free Report) last posted its quarterly earnings data on Tuesday, February 13th. The technology company reported $2.65 EPS for the quarter, missing the consensus estimate of $3.86 by ($1.21). WESCO International had a net margin of 3.42% and a return on equity of 17.01%. The company had revenue of $5.50 billion during the quarter, compared to the consensus estimate of $5.59 billion. During the same period in the prior year, the firm posted $4.13 earnings per share. The company's revenue was down 1.8% compared to the same quarter last year. Equities analysts anticipate that WESCO International will post 14.19 EPS for the current year.

WESCO International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a $0.4125 dividend. This represents a $1.65 dividend on an annualized basis and a yield of 1.02%. 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. WESCO International's dividend payout ratio (DPR) is currently 12.19%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Robert W. Baird cut their target price on WESCO International from $203.00 to $170.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 14th. JPMorgan Chase & Co. decreased their price objective on shares of WESCO International from $180.00 to $175.00 and set an "overweight" rating for the company in a report on Friday, March 15th. Oppenheimer upped their target price on shares of WESCO International from $175.00 to $190.00 and gave the company an "outperform" rating in a research note on Thursday, March 7th. KeyCorp lifted their price target on shares of WESCO International from $165.00 to $190.00 and gave the stock an "overweight" rating in a research report on Thursday. Finally, StockNews.com cut shares of WESCO International from a "buy" rating to a "hold" rating in a research report on Wednesday, February 14th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $184.67.

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).