WESCO International, Inc. (NYSE:WCC) was the recipient of a large decrease in short interest in the month of August. As of August 31st, there was short interest totalling 1,242,400 shares, a decrease of 30.5% from the July 31st total of 1,786,500 shares. Based on an average trading volume of 554,400 shares, the days-to-cover ratio is currently 2.2 days. Approximately 3.0% of the shares of the company are sold short.

Institutional investors and hedge funds have recently made changes to their positions in the company. Diamond Hill Capital Management Inc. raised its position in shares of WESCO International by 6,102.8% in the second quarter. Diamond Hill Capital Management Inc. now owns 548,764 shares of the technology company’s stock valued at $27,795,000 after buying an additional 539,917 shares in the last quarter. New York State Common Retirement Fund increased its stake in WESCO International by 16.6% during the 1st quarter. New York State Common Retirement Fund now owns 208,584 shares of the technology company’s stock worth $11,057,000 after acquiring an additional 29,766 shares during the period. Parametric Portfolio Associates LLC raised its holdings in WESCO International by 12.4% in the 1st quarter. Parametric Portfolio Associates LLC now owns 190,375 shares of the technology company’s stock valued at $10,092,000 after acquiring an additional 20,960 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in WESCO International in the 2nd quarter valued at $1,213,000. Finally, Foundry Partners LLC lifted its position in shares of WESCO International by 1,442.7% during the 2nd quarter. Foundry Partners LLC now owns 138,847 shares of the technology company’s stock valued at $7,033,000 after acquiring an additional 129,847 shares during the period.

Shares of WCC stock traded up $0.91 on Wednesday, hitting $49.31. The company’s stock had a trading volume of 337,700 shares, compared to its average volume of 531,950. WESCO International has a fifty-two week low of $42.03 and a fifty-two week high of $63.20. The company has a market capitalization of $2.03 billion, a PE ratio of 10.23, a PEG ratio of 0.91 and a beta of 1.74. The stock’s 50 day moving average is $45.70 and its 200-day moving average is $50.49. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.41 and a current ratio of 2.30.

WESCO International (NYSE:WCC) last issued its quarterly earnings data on Thursday, August 1st. The technology company reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.01. The business had revenue of $2.15 billion during the quarter, compared to analysts’ expectations of $2.17 billion. WESCO International had a net margin of 2.82% and a return on equity of 10.63%. The business’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.22 EPS. On average, research analysts forecast that WESCO International will post 5.24 earnings per share for the current year.

Several brokerages have issued reports on WCC. Buckingham Research downgraded shares of WESCO International from a “buy” rating to a “neutral” rating in a research report on Friday, August 2nd. Oppenheimer reaffirmed a “hold” rating on shares of WESCO International in a research report on Friday, September 6th. Northcoast Research downgraded WESCO International from a “buy” rating to a “neutral” rating in a research report on Friday, August 2nd. Robert W. Baird upgraded WESCO International from a “neutral” rating to an “outperform” rating and set a $54.00 target price on the stock in a research note on Thursday, August 22nd. Finally, TheStreet cut WESCO International from a “b-” rating to a “c+” rating in a report on Friday, May 24th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $58.33.

About WESCO International

WESCO International, Inc distributes electrical, industrial, and communications maintenance, repair and operating (MRO) and original equipment manufacturers products and construction materials in North America and internationally. The company sells general supplies, such as wiring devices, fuses, terminals, connectors, boxes, enclosures, fittings, lugs, terminations, wraps, splicing and marking equipment, tools and testers, safety, personal protection, sealants, cutting tools, adhesives, consumables, fasteners, janitorial, and other MRO supplies.

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