Wesco International (NYSE:WCC).
Polaris Capital Management, LLC reports that it raised its investment in Wesco International by 99,600 shares in the last quarter. Its investment stood at $38,719,000 an increase of $6,338,000 according to the filing.
Polaris Capital Management, LLC isn’t the only one who has changed their investment in WCC. First Mercantile Trust Co reduced its stake by shedding 300 shares a decrease of 10.7%. First Mercantile Trust Co owns 2,500 shares with a value of $146,000. The total value of its holdings decreased 8.8%. As of the end of the quarter Raymond James & Associates had sold a total of 6,274 shares trimming its position 8.1%. The value of the total investment in Wesco International decreased from $4,416,000 to $4,123,000 a change of 6.6% for the reporting period.
As of quarter end Great Lakes Advisors, LLC had acquired 24,805 shares growing its holdings by 15.8%. The value in dollars went from $9,024,000 to $10,619,000 a change of $1,595,000 since the last quarter.
Equity analyst Credit Suisse Group released guidance on WCC with a rating of “Outperform” and establishing a price target of $70.00.
On October 27 Robert W. Baird held the company rating at “Hold” projecting a price of $67.00. Wells Fargo & Company raised the price target on October 27 changing the forecast from $67.00 to $75.00 and stated a “Outperform” rating.
October 12 investment analysts at KeyCorp kept the company rating at “Buy” targeting a price of $64.00.
The company is now down by 1.14% since yesterday’s close of 61.15. The P/E ratio is currently 15.52 and the market value is 2.84B. In the latest earnings report the EPS was $3.89 with 47.00M shares presently outstanding.
Investors are more bearish on shares of Wesco International lately looking at the increase in short interest. The stock recorded a rise in short interest between September 29, 2017 and October 13, 2017 of 16.72%. Short shares grew 233,435 over that period. With short interest at 1,629,474 and short average daily volume at 260,957, days to cover is 6.0 and the short interest percentage is 0.03% as of October 13.