Farmers & Merchants Investments Inc. Acquires 3,366 Shares of WESCO International, Inc. $WCC

Key Points

• Farmers & Merchants Investments Inc. increased its holdings in WESCO International by 1.8%, acquiring an additional 3,366 shares, making it the fund's 18th largest holding.
• Multiple investment firms have significantly raised their positions in WESCO International, with Bank of New York Mellon Corp growing by 88.2% in the first quarter alone.
• WESCO International has announced a quarterly dividend of $0.4538 per share, which will be distributed on September 30th, with a yield of 0.9%.

Farmers & Merchants Investments Inc. increased its holdings in shares of WESCO International, Inc. (NYSE:WCC - Free Report) by 1.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 193,277 shares of the technology company's stock after acquiring an additional 3,366 shares during the period. WESCO International comprises approximately 1.0% of Farmers & Merchants Investments Inc.'s holdings, making the stock its 18th largest holding. Farmers & Merchants Investments Inc. owned approximately 0.40% of WESCO International worth $35,795,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Bank of New York Mellon Corp grew its position in WESCO International by 88.2% during the 1st quarter. Bank of New York Mellon Corp now owns 758,786 shares of the technology company's stock worth $117,839,000 after acquiring an additional 355,570 shares during the last quarter. Pacer Advisors Inc. boosted its position in WESCO International by 6,769.8% in the 1st quarter. Pacer Advisors Inc. now owns 456,290 shares of the technology company's stock valued at $70,862,000 after buying an additional 449,648 shares during the last quarter. Ameriprise Financial Inc. boosted its position in WESCO International by 21.2% in the 1st quarter. Ameriprise Financial Inc. now owns 309,081 shares of the technology company's stock valued at $48,001,000 after buying an additional 54,046 shares during the last quarter. Davis Selected Advisers boosted its position in WESCO International by 0.6% in the 1st quarter. Davis Selected Advisers now owns 258,503 shares of the technology company's stock valued at $40,146,000 after buying an additional 1,516 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in WESCO International by 19,737.1% in the 1st quarter. GAMMA Investing LLC now owns 74,389 shares of the technology company's stock valued at $11,553,000 after buying an additional 74,014 shares during the last quarter. 93.75% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on WCC shares. Loop Capital increased their price objective on WESCO International from $220.00 to $235.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. Raymond James Financial reiterated a "strong-buy" rating and issued a $240.00 price objective (up from $230.00) on shares of WESCO International in a research report on Friday, August 1st. KeyCorp increased their price objective on WESCO International from $240.00 to $258.00 and gave the company an "overweight" rating in a research report on Friday, August 29th. Oppenheimer increased their price objective on WESCO International from $225.00 to $255.00 and gave the company an "outperform" rating in a research report on Friday, September 5th. Finally, JPMorgan Chase & Co. raised their price target on WESCO International from $205.00 to $225.00 and gave the stock an "overweight" rating in a research report on Thursday, September 4th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $232.67.

WESCO International Stock Performance

WCC opened at $209.10 on Monday. The business's 50-day moving average price is $212.56 and its two-hundred day moving average price is $182.88. WESCO International, Inc. has a 1 year low of $125.21 and a 1 year high of $228.35. The company has a market capitalization of $10.17 billion, a price-to-earnings ratio of 16.37, a P/E/G ratio of 1.61 and a beta of 1.81. The company has a debt-to-equity ratio of 1.19, a current ratio of 2.09 and a quick ratio of 1.19.

WESCO International (NYSE:WCC - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The technology company reported $3.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.31 by $0.08. WESCO International had a return on equity of 12.96% and a net margin of 2.98%.The firm had revenue of $5.90 billion for the quarter, compared to the consensus estimate of $5.82 billion. During the same quarter last year, the business posted $3.21 EPS. The company's revenue for the quarter was up 7.7% on a year-over-year basis. Equities analysts expect that WESCO International, Inc. will post 13.3 EPS for the current fiscal year.

WESCO International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 12th will be issued a $0.4538 dividend. The ex-dividend date is Friday, September 12th. This represents a $1.82 annualized dividend and a dividend yield of 0.9%. WESCO International's dividend payout ratio (DPR) is presently 14.25%.

Insider Buying and Selling

In other news, EVP Nelson John Squires III sold 13,780 shares of the firm's stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $219.59, for a total value of $3,025,950.20. Following the completion of the transaction, the executive vice president owned 48,625 shares in the company, valued at $10,677,563.75. This trade represents a 22.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO David S. Schulz sold 12,227 shares of the firm's stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $225.17, for a total value of $2,753,153.59. Following the completion of the transaction, the chief financial officer owned 110,376 shares of the company's stock, valued at $24,853,363.92. The trade was a 9.97% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 136,131 shares of company stock worth $30,384,421 over the last three months. Company insiders own 3.10% of the company's stock.

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).

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