Farmers & Merchants Investments Inc. Purchases 2,923 Shares of WESCO International, Inc. (NYSE:WCC)

Farmers & Merchants Investments Inc. lifted its holdings in shares of WESCO International, Inc. (NYSE:WCC - Free Report) by 1.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 194,979 shares of the technology company's stock after buying an additional 2,923 shares during the quarter. WESCO International comprises 1.0% of Farmers & Merchants Investments Inc.'s investment portfolio, making the stock its 20th biggest position. Farmers & Merchants Investments Inc. owned about 0.40% of WESCO International worth $32,753,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Russell Investments Group Ltd. increased its position in shares of WESCO International by 74.8% during the first quarter. Russell Investments Group Ltd. now owns 72,897 shares of the technology company's stock valued at $12,486,000 after buying an additional 31,200 shares during the period. Harbor Capital Advisors Inc. increased its holdings in WESCO International by 860.5% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 12,381 shares of the technology company's stock worth $1,963,000 after acquiring an additional 11,092 shares during the period. Redwood Investment Management LLC purchased a new stake in WESCO International in the 1st quarter worth approximately $639,000. BNP Paribas Financial Markets boosted its holdings in WESCO International by 163.5% in the 1st quarter. BNP Paribas Financial Markets now owns 24,236 shares of the technology company's stock valued at $4,151,000 after purchasing an additional 15,037 shares during the period. Finally, Fifth Third Wealth Advisors LLC purchased a new position in shares of WESCO International during the 2nd quarter valued at $676,000. 93.76% of the stock is owned by institutional investors.

Insider Buying and Selling at WESCO International

In other news, Director Steven A. Raymund sold 5,819 shares of WESCO International stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $171.56, for a total value of $998,307.64. Following the sale, the director now directly owns 27,004 shares in the company, valued at approximately $4,632,806.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.10% of the stock is currently owned by corporate insiders.

WESCO International Trading Down 0.9 %

Shares of NYSE WCC traded down $1.56 during midday trading on Tuesday, reaching $177.88. The company had a trading volume of 756,295 shares, compared to its average volume of 694,431. The stock has a market cap of $8.74 billion, a PE ratio of 13.81, a price-to-earnings-growth ratio of 1.45 and a beta of 2.03. WESCO International, Inc. has a one year low of $125.05 and a one year high of $195.43. The firm's fifty day moving average price is $166.72 and its 200-day moving average price is $167.02. The company has a quick ratio of 1.34, a current ratio of 2.28 and a debt-to-equity ratio of 1.07.

WESCO International (NYSE:WCC - Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The technology company reported $3.21 earnings per share for the quarter, missing analysts' consensus estimates of $3.48 by ($0.27). WESCO International had a net margin of 3.30% and a return on equity of 14.44%. The company had revenue of $5.48 billion for the quarter, compared to analysts' expectations of $5.55 billion. During the same period last year, the company posted $3.71 EPS. The business's revenue for the quarter was down 4.6% compared to the same quarter last year. On average, equities research analysts anticipate that WESCO International, Inc. will post 12.14 earnings per share for the current year.

WESCO International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were issued a dividend of $0.4125 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.65 dividend on an annualized basis and a yield of 0.93%. WESCO International's dividend payout ratio is presently 12.81%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on WCC. KeyCorp dropped their price objective on WESCO International from $205.00 to $195.00 and set an "overweight" rating for the company in a research note on Friday, August 2nd. Robert W. Baird upgraded WESCO International from a "neutral" rating to an "outperform" rating and lifted their price target for the company from $522.00 to $550.00 in a research report on Wednesday, October 16th. Royal Bank of Canada upped their price objective on shares of WESCO International from $171.00 to $187.00 and gave the stock a "sector perform" rating in a research report on Friday, September 27th. Loop Capital increased their target price on WESCO International from $190.00 to $210.00 and gave the company a "buy" rating in a research note on Friday, September 27th. Finally, Baird R W upgraded WESCO International from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, October 16th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, WESCO International has an average rating of "Moderate Buy" and an average price target of $243.86.

WESCO International Company Profile

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).