WESCO International, Inc. (NYSE:WCC) Short Interest Up 25.2% in May

WESCO International, Inc. (NYSE:WCC - Get Free Report) saw a significant increase in short interest in 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. Currently, 2.9% of the company's stock are sold short. Based on an average daily volume of 807,200 shares, the days-to-cover ratio is presently 1.7 days.

WESCO International Price Performance

Shares of NYSE WCC traded up $3.45 during mid-day trading on Friday, reaching $173.52. The company's stock had a trading volume of 273,663 shares, compared to its average volume of 734,082. The stock has a 50-day moving average of $159.64 and a two-hundred day moving average of $175.78. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.27 and a current ratio of 2.20. The stock has a market capitalization of $8.47 billion, a P/E ratio of 13.28, a P/E/G ratio of 1.45 and a beta of 1.83. WESCO International has a 1-year low of $125.21 and a 1-year high of $216.17.

WESCO International (NYSE:WCC - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The technology company reported $2.21 EPS for the quarter, missing analysts' consensus estimates of $2.23 by ($0.02). The business 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 was down .1% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.30 EPS. On average, equities research analysts anticipate that WESCO International will post 13.3 EPS for the current fiscal year.

WESCO International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a $0.4538 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.82 annualized dividend and a yield of 1.05%. WESCO International's dividend payout ratio (DPR) is presently 13.69%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. cut their price objective on shares of WESCO International from $210.00 to $180.00 and set an "overweight" rating on the stock in a report on Tuesday, May 27th. Loop Capital cut their price target on shares of WESCO International from $250.00 to $220.00 and set a "buy" rating on the stock in a research note on Monday, May 12th. Stephens lifted their price objective on shares of WESCO International from $205.00 to $215.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 18th. Royal Bank of Canada boosted their price objective on shares of WESCO International from $212.00 to $213.00 and gave the company a "sector perform" rating in a report on Wednesday, February 12th. Finally, KeyCorp reduced their target price on WESCO International from $245.00 to $205.00 and set an "overweight" rating for the company in a research note on Monday, March 17th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $212.00.

Institutional Trading of WESCO International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. V Square Quantitative Management LLC boosted its holdings in 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 purchasing an additional 67 shares during the period. Whittier Trust Co. of Nevada Inc. raised its position 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 purchasing an additional 81 shares in the last quarter. Whittier Trust Co. boosted its stake 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 valued at $43,000 after buying an additional 89 shares during the period. Parallel Advisors LLC grew its position in shares of WESCO International by 21.1% during the first quarter. Parallel Advisors LLC now owns 447 shares of the technology company's stock worth $69,000 after buying an additional 78 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in shares of WESCO International by 27.7% during the first quarter. GAMMA Investing LLC now owns 479 shares of the technology company's stock worth $74,000 after buying an additional 104 shares in the last quarter. Hedge funds and other 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).