Short Interest in WESCO International, Inc. (NYSE:WCC) Increases By 25.2%

WESCO International, Inc. (NYSE:WCC - Get Free Report) was the target of a large increase in short interest in the month of May. As of May 15th, there was short interest totalling 1,390,000 shares, an increase of 25.2% from the April 30th total of 1,110,000 shares. Approximately 2.9% of the shares of the company are sold short. Based on an average daily volume of 807,200 shares, the days-to-cover ratio is presently 1.7 days.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on WCC shares. JPMorgan Chase & Co. cut their price target on WESCO International from $210.00 to $180.00 and set an "overweight" rating for the company in a research note on Tuesday, May 27th. Royal Bank of Canada lifted their price objective on WESCO International from $212.00 to $213.00 and gave the stock a "sector perform" rating in a research note on Wednesday, February 12th. Oppenheimer cut their target price on WESCO International from $225.00 to $195.00 and set an "outperform" rating on the stock in a research report on Monday, May 5th. KeyCorp cut 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. Finally, Stephens upped their price objective on WESCO International from $205.00 to $215.00 and gave the company an "overweight" rating in a research report on Tuesday, February 18th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $212.00.

Hedge Funds Weigh In On WESCO International

Several hedge funds and other institutional investors have recently made changes to their positions in WCC. V Square Quantitative Management LLC grew its stake in shares of WESCO International by 39.9% in the fourth 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. grew its holdings in shares of WESCO International by 46.8% in the 1st quarter. Whittier Trust Co. now owns 279 shares of the technology company's stock worth $43,000 after acquiring an additional 89 shares during the period. Whittier Trust Co. of Nevada Inc. lifted 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 valued at $48,000 after buying an additional 81 shares in the last quarter. Parallel Advisors LLC lifted its stake in shares of WESCO International by 21.1% during the 1st quarter. Parallel Advisors LLC now owns 447 shares of the technology company's stock worth $69,000 after purchasing an additional 78 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of WESCO International by 27.7% during the 1st quarter. GAMMA Investing LLC now owns 479 shares of the technology company's stock worth $74,000 after buying an additional 104 shares during the last quarter. Hedge funds and other institutional investors own 93.76% of the company's stock.

WESCO International Stock Up 0.4%

NYSE:WCC traded up $0.63 during mid-day trading on Thursday, hitting $171.50. 122,737 shares of the company's stock traded hands, compared to its average volume of 757,872. The company has a fifty day moving average of $159.00 and a 200 day moving average of $176.22. WESCO International has a twelve month low of $125.21 and a twelve month high of $216.17. The company has a market capitalization of $8.37 billion, a P/E ratio of 13.12, a P/E/G ratio of 1.45 and a beta of 1.83. 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 quarterly earnings data on Thursday, May 1st. The technology company reported $2.21 earnings per share for the quarter, missing analysts' consensus estimates of $2.23 by ($0.02). The firm had revenue of $5.34 billion during the quarter, compared to analyst estimates of $5.27 billion. WESCO International had a net margin of 3.29% and a return on equity of 13.63%. The firm's revenue for the quarter was down .1% on a year-over-year basis. During the same period in the prior year, the company posted $2.30 earnings per share. On average, analysts forecast that WESCO International will post 13.3 EPS for the current year.

WESCO International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be given a dividend of $0.4538 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.82 dividend on an annualized basis and a yield of 1.06%. WESCO International's dividend payout ratio is currently 13.69%.

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).