WESCO International, Inc. (NYSE:WCC) Short Interest Down 14.2% in April

WESCO International, Inc. (NYSE:WCC) saw a large decline in short interest during the month of April. As of April 15th, there was short interest totalling 1,090,000 shares, a decline of 14.2% from the March 31st total of 1,270,000 shares. Based on an average daily trading volume, of 637,700 shares, the short-interest ratio is currently 1.7 days. Currently, 2.5% of the company’s stock are short sold.

Insiders Place Their Bets

In other news, EVP James Cameron sold 5,352 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now owns 33,595 shares of the company’s stock, valued at approximately $5,253,922.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related 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 value of $663,100.00. Following the completion of the sale, the executive vice president now directly owns 54,385 shares in the company, valued at $10,333,150. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP James Cameron sold 5,352 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $156.39, for a total transaction of $836,999.28. Following the completion of the sale, the executive vice president now directly owns 33,595 shares in the company, valued at approximately $5,253,922.05. The disclosure for this sale can be found here. 3.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On WESCO International

A number of institutional investors have recently added to or reduced their stakes in the stock. KB Financial Partners LLC boosted its stake in shares of WESCO International by 76.8% during the 3rd quarter. KB Financial Partners LLC now owns 198 shares of the technology company’s stock worth $28,000 after acquiring an additional 86 shares during the period. FDx Advisors Inc. boosted its holdings in WESCO International by 7.3% in the third quarter. FDx Advisors Inc. now owns 1,555 shares of the technology company’s stock worth $224,000 after acquiring an additional 106 shares in the last quarter. Rise Advisors LLC purchased a new stake in shares of WESCO International during the first quarter valued at approximately $26,000. Anchor Investment Management LLC bought a new position in WESCO International during the fourth quarter valued at $48,000. Finally, GAMMA Investing LLC bought a new position in shares of WESCO International in the fourth quarter worth $56,000. 93.76% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on the stock. JPMorgan Chase & Co. reduced their target price 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. KeyCorp increased their target price on shares of WESCO International from $165.00 to $190.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Oppenheimer raised their target price on shares of WESCO International from $175.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, March 7th. StockNews.com lowered WESCO International from a “buy” rating to a “hold” rating in a research report on Wednesday, February 14th. Finally, Robert W. Baird reduced their target price on shares of WESCO International from $203.00 to $170.00 and set an “outperform” rating for the company in a report on Wednesday, February 14th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $184.67.

WESCO International Stock Down 1.0 %

WESCO International stock opened at $155.80 on Monday. The stock has a 50 day moving average of $159.77 and a two-hundred day moving average of $159.33. The stock has a market capitalization of $7.94 billion, a price-to-earnings ratio of 11.51, a PEG ratio of 1.10 and a beta of 2.06. WESCO International has a twelve month low of $121.90 and a twelve month high of $195.43. The company has a current ratio of 2.48, a quick ratio of 1.42 and a debt-to-equity ratio of 1.06.

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

WESCO International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a $0.4125 dividend. 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. This represents a $1.65 dividend on an annualized basis and a dividend yield of 1.06%. WESCO International’s payout ratio is presently 12.19%.

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).