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

WESCO International, Inc. (NYSE:WCC) was the recipient of a significant decline in short interest in 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 volume of 637,700 shares, the short-interest ratio is presently 1.7 days. Currently, 2.5% of the shares of the stock are sold short.

Insider Buying and Selling

In other WESCO International news, EVP Nelson John Squires III sold 3,490 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $190.00, for a total transaction of $663,100.00. Following the completion of the transaction, the executive vice president now directly owns 54,385 shares of the company’s stock, valued at approximately $10,333,150. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP James Cameron sold 5,352 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $5,253,922.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Nelson John Squires III sold 3,490 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $190.00, for a total transaction of $663,100.00. Following the sale, the executive vice president now owns 54,385 shares of the company’s stock, valued at $10,333,150. The disclosure for this sale can be found here. 3.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Rise Advisors LLC acquired a new stake in shares of WESCO International during the 1st quarter valued at about $26,000. KB Financial Partners LLC grew its position in WESCO International by 76.8% in the third quarter. KB Financial Partners LLC now owns 198 shares of the technology company’s stock worth $28,000 after acquiring an additional 86 shares in the last quarter. Anchor Investment Management LLC acquired a new position in shares of WESCO International during the 4th quarter worth $48,000. GAMMA Investing LLC bought a new position in shares of WESCO International during the 4th quarter valued at $56,000. Finally, Richelieu Gestion SA acquired a new stake in shares of WESCO International in the 4th quarter valued at $122,000. 93.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Oppenheimer lifted their target price on WESCO International from $175.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, March 7th. JPMorgan Chase & Co. cut their price objective on WESCO International from $180.00 to $175.00 and set an “overweight” rating on the stock in a report on Friday, March 15th. Royal Bank of Canada cut shares of WESCO International from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $202.00 to $173.00 in a report on Tuesday, February 13th. KeyCorp boosted their price target on shares of WESCO International from $165.00 to $190.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Finally, Robert W. Baird reduced their price target on shares of WESCO International from $203.00 to $170.00 and set an “outperform” rating for the company in a research report on Wednesday, February 14th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $184.67.

WESCO International Trading Up 1.6 %

NYSE:WCC opened at $158.25 on Tuesday. The stock has a market cap of $8.06 billion, a PE ratio of 11.69, a price-to-earnings-growth ratio of 1.10 and a beta of 2.06. WESCO International has a fifty-two week low of $121.90 and a fifty-two week high of $195.43. The company has a debt-to-equity ratio of 1.06, a current ratio of 2.48 and a quick ratio of 1.42. The stock’s 50-day moving average is $160.02 and its two-hundred day moving average is $159.42.

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

WESCO International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a dividend of $0.4125 per share. This is a boost from WESCO International’s previous quarterly dividend of $0.38. The ex-dividend date was Thursday, March 14th. This represents a $1.65 dividend on an annualized basis and a yield of 1.04%. WESCO International’s dividend payout ratio (DPR) 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).