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

WESCO International, Inc. (NYSE:WCC) saw a significant decrease in short interest in July. As of July 15th, there was short interest totalling 1,810,000 shares, a decrease of 26.7% from the June 30th total of 2,470,000 shares. Based on an average daily volume of 827,700 shares, the short-interest ratio is presently 2.2 days. Approximately 3.9% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

WCC has been the subject of a number of analyst reports. StockNews.com lowered shares of WESCO International from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Royal Bank of Canada reissued a “sector perform” rating and issued a $172.00 price objective on shares of WESCO International in a research report on Thursday, June 20th. Loop Capital upped their price target on shares of WESCO International from $190.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. KeyCorp upped their price target on shares of WESCO International from $190.00 to $205.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $195.00 price target (down previously from $200.00) on shares of WESCO International in a research report on Wednesday, May 29th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $191.17.

WESCO International Trading Up 1.5 %

WCC traded up $2.60 during trading on Friday, hitting $170.50. 523,965 shares of the company’s stock were exchanged, compared to its average volume of 624,196. The company has a current ratio of 2.21, a quick ratio of 1.33 and a debt-to-equity ratio of 1.04. WESCO International has a 1 year low of $122.30 and a 1 year high of $195.43. The stock has a 50 day moving average price of $170.76 and a 200 day moving average price of $167.35. The firm has a market cap of $8.67 billion, a P/E ratio of 14.20, a price-to-earnings-growth ratio of 1.19 and a beta of 2.06.

WESCO International (NYSE:WCC) last released its quarterly earnings data on Thursday, May 2nd. The technology company reported $2.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.43 by ($0.13). WESCO International had a return on equity of 15.10% and a net margin of 3.08%. The business had revenue of $5.35 billion for the quarter, compared to analysts’ expectations of $5.30 billion. During the same quarter in the prior year, the firm earned $3.75 earnings per share. WESCO International’s quarterly revenue was down 3.1% compared to the same quarter last year. As a group, analysts expect that WESCO International will post 14.07 EPS for the current fiscal year.

WESCO International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a $0.4125 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.65 annualized dividend and a dividend yield of 0.97%. WESCO International’s dividend payout ratio (DPR) is presently 13.74%.

Insider Buying and Selling at WESCO International

In other WESCO International news, EVP Christine Ann Wolf sold 4,486 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $190.13, for a total value of $852,923.18. Following the sale, the executive vice president now owns 30,304 shares of the company’s stock, valued at $5,761,699.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other WESCO International news, EVP Christine Ann Wolf sold 4,486 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $190.13, for a total value of $852,923.18. Following the sale, the executive vice president now owns 30,304 shares of the company’s stock, valued at $5,761,699.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Equity Investors Vii L. Green sold 1,750,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $173.02, for a total transaction of $302,785,000.00. Following the completion of the transaction, the insider now directly owns 2,134,683 shares of the company’s stock, valued at approximately $369,342,852.66. The disclosure for this sale can be found here. Insiders have sold 1,754,960 shares of company stock valued at $303,728,784 over the last quarter. Corporate insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in WCC. Farmers & Merchants Investments Inc. boosted its stake in shares of WESCO International by 0.4% in the fourth quarter. Farmers & Merchants Investments Inc. now owns 190,759 shares of the technology company’s stock valued at $33,169,000 after purchasing an additional 790 shares during the period. New York State Teachers Retirement System boosted its stake in shares of WESCO International by 30.7% in the fourth quarter. New York State Teachers Retirement System now owns 26,278 shares of the technology company’s stock valued at $4,569,000 after purchasing an additional 6,170 shares during the period. Scissortail Wealth Management LLC purchased a new position in shares of WESCO International in the fourth quarter valued at $825,000. River Road Asset Management LLC bought a new position in WESCO International during the 4th quarter valued at $79,404,000. Finally, GAMMA Investing LLC bought a new position in WESCO International during the 4th quarter valued at $56,000. 93.76% of the stock is currently owned by hedge funds and other institutional investors.

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).