WESCO International, Inc. (NYSE:WCC) Short Interest Up 27.8% in November

WESCO International, Inc. (NYSE:WCC) was the target of a large growth in short interest during the month of November. As of November 15th, there was short interest totalling 1,210,000 shares, a growth of 27.8% from the October 31st total of 947,100 shares. Approximately 2.6% of the shares of the company are short sold. Based on an average daily volume of 732,000 shares, the short-interest ratio is presently 1.7 days.

Insider Buying and Selling

In related news, EVP William Clayton Geary sold 2,829 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $205.73, for a total value of $582,010.17. Following the completion of the sale, the executive vice president now owns 35,063 shares in the company, valued at approximately $7,213,510.99. This trade represents a 7.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Nelson John Squires III sold 10,000 shares of the business’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $190.00, for a total value of $1,900,000.00. Following the transaction, the executive vice president now owns 54,621 shares in the company, valued at $10,377,990. This represents a 15.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,586 shares of company stock valued at $6,565,762. Insiders own 3.10% of the company’s stock.

Institutional Trading of WESCO International

A number of large investors have recently made changes to their positions in the company. Pacer Advisors Inc. raised its holdings in WESCO International by 23,727.4% during the 2nd quarter. Pacer Advisors Inc. now owns 1,589,048 shares of the technology company’s stock worth $251,896,000 after buying an additional 1,582,379 shares during the period. Clearbridge Investments LLC acquired a new stake in shares of WESCO International during the second quarter worth $52,782,000. Thompson Siegel & Walmsley LLC raised its holdings in shares of WESCO International by 341.8% during the third quarter. Thompson Siegel & Walmsley LLC now owns 258,486 shares of the technology company’s stock worth $43,420,000 after acquiring an additional 199,975 shares during the period. Neo Ivy Capital Management acquired a new position in WESCO International in the 2nd quarter worth $5,916,000. Finally, Geode Capital Management LLC increased its holdings in WESCO International by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 762,653 shares of the technology company’s stock worth $128,143,000 after purchasing an additional 22,080 shares in the last quarter. Institutional investors own 93.76% of the company’s stock.

WESCO International Trading Up 1.6 %

Shares of NYSE:WCC traded up $3.24 during trading on Friday, hitting $211.57. 262,496 shares of the company’s stock were exchanged, compared to its average volume of 726,654. The company has a current ratio of 2.21, a quick ratio of 1.29 and a debt-to-equity ratio of 0.99. The firm has a market cap of $10.37 billion, a P/E ratio of 16.94, a PEG ratio of 1.70 and a beta of 2.01. The firm has a 50-day moving average price of $185.26 and a two-hundred day moving average price of $173.17. WESCO International has a 1-year low of $132.37 and a 1-year high of $216.17.

WESCO International (NYSE:WCC) last posted its quarterly earnings results on Thursday, October 31st. The technology company reported $3.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.22 by $0.36. The business had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.46 billion. WESCO International had a return on equity of 13.19% and a net margin of 3.19%. The firm’s revenue was down 2.7% on a year-over-year basis. During the same period last year, the company earned $4.49 EPS. Equities analysts predict that WESCO International will post 12.24 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Royal Bank of Canada lifted their price objective on WESCO International from $186.00 to $199.00 and gave the company a “sector perform” rating in a report on Friday, November 1st. Oppenheimer boosted their price target on WESCO International from $205.00 to $225.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Baird R W upgraded WESCO International from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 16th. Robert W. Baird lifted their price objective on WESCO International from $215.00 to $223.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, StockNews.com raised shares of WESCO International from a “hold” rating to a “buy” rating in a report on Monday, November 4th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, WESCO International has a consensus rating of “Buy” and a consensus target price of $208.86.

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).