WESCO International, Inc. (NYSE:WCC) Short Interest Up 50.0% in September

WESCO International, Inc. (NYSE:WCC) was the recipient of a large growth in short interest in the month of September. As of September 15th, there was short interest totalling 2,010,000 shares, a growth of 50.0% from the August 31st total of 1,340,000 shares. Based on an average daily volume of 685,200 shares, the short-interest ratio is currently 2.9 days. Approximately 4.5% of the company’s shares are short sold.

WESCO International Stock Performance

Shares of NYSE WCC opened at $172.11 on Friday. The business’s 50-day simple moving average is $161.59 and its 200-day simple moving average is $166.23. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.34 and a current ratio of 2.28. WESCO International has a 52 week low of $122.30 and a 52 week high of $195.43. The firm has a market cap of $8.46 billion, a price-to-earnings ratio of 14.33, a P/E/G ratio of 1.38 and a beta of 2.03.

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

WESCO International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be given a dividend of $0.4125 per share. This represents a $1.65 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend is Friday, September 13th. WESCO International’s dividend payout ratio is 13.74%.

Hedge Funds Weigh In On WESCO International

A number of institutional investors have recently made changes to their positions in the business. Rise Advisors LLC acquired a new stake in WESCO International in the 1st quarter valued at approximately $26,000. Whittier Trust Co. of Nevada Inc. grew its stake in shares of WESCO International by 71.1% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 166 shares of the technology company’s stock worth $26,000 after acquiring an additional 69 shares during the last quarter. GAMMA Investing LLC increased its position in WESCO International by 65.4% during the second quarter. GAMMA Investing LLC now owns 253 shares of the technology company’s stock worth $40,000 after acquiring an additional 100 shares during the period. Innealta Capital LLC acquired a new position in WESCO International during the 2nd quarter valued at $152,000. Finally, TimesSquare Capital Management LLC bought a new stake in WESCO International in the 1st quarter valued at $463,000. 93.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on WCC. StockNews.com cut WESCO International from a “buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. KeyCorp lowered their price target on shares of WESCO International from $205.00 to $195.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Stephens reiterated an “overweight” rating and set a $190.00 price objective on shares of WESCO International in a report on Monday, August 5th. Loop Capital reduced their price objective on WESCO International from $200.00 to $190.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Finally, Robert W. Baird cut their price target on WESCO International from $195.00 to $172.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $184.71.

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).