WESCO International, Inc. (NYSE:WCC) Shares Sold by Farmers & Merchants Investments Inc.

Farmers & Merchants Investments Inc. cut its holdings in shares of WESCO International, Inc. (NYSE:WCC) by 0.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 190,199 shares of the technology company’s stock after selling 560 shares during the period. WESCO International makes up about 1.1% of Farmers & Merchants Investments Inc.’s portfolio, making the stock its 16th largest holding. Farmers & Merchants Investments Inc.’s holdings in WESCO International were worth $32,577,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. AEGON ASSET MANAGEMENT UK Plc purchased a new position in WESCO International in the 4th quarter worth approximately $2,256,000. Brevan Howard Capital Management LP purchased a new position in WESCO International in the 4th quarter worth approximately $1,342,000. KB Financial Partners LLC lifted its stake in WESCO International by 76.8% in the 3rd quarter. KB Financial Partners LLC now owns 198 shares of the technology company’s stock worth $28,000 after purchasing an additional 86 shares in the last quarter. Rise Advisors LLC purchased a new position in WESCO International in the 1st quarter worth approximately $26,000. Finally, Lazard Asset Management LLC lifted its stake in WESCO International by 51.8% in the 3rd quarter. Lazard Asset Management LLC now owns 2,500 shares of the technology company’s stock worth $359,000 after purchasing an additional 853 shares in the last quarter. 93.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at WESCO International

In other news, EVP Christine Ann Wolf sold 4,486 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $190.13, for a total value of $852,923.18. Following the completion of the sale, the executive vice president now directly owns 30,304 shares of the company’s stock, valued at $5,761,699.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Christine Ann Wolf sold 4,486 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $190.13, for a total value of $852,923.18. Following the completion of the sale, the executive vice president now directly owns 30,304 shares of the company’s stock, valued at $5,761,699.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Equity Investors Vii L. Green sold 1,750,000 shares of the business’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $173.02, for a total transaction of $302,785,000.00. Following the transaction, the insider now owns 2,134,683 shares in the company, valued at $369,342,852.66. The disclosure for this sale can be found here. Insiders sold a total of 1,754,960 shares of company stock valued at $303,728,784 over the last ninety days. Insiders own 3.10% of the company’s stock.

WESCO International Stock Performance

WCC traded up $1.50 on Tuesday, reaching $156.65. The company had a trading volume of 90,911 shares, compared to its average volume of 694,311. WESCO International, Inc. has a 1 year low of $122.30 and a 1 year high of $195.43. The stock has a market capitalization of $7.96 billion, a PE ratio of 12.92, a P/E/G ratio of 1.13 and a beta of 2.06. The company has a quick ratio of 1.33, a current ratio of 2.21 and a debt-to-equity ratio of 1.04. The stock has a 50-day moving average price of $172.00 and a 200-day moving average price of $168.32.

WESCO International (NYSE:WCC) last announced its quarterly earnings results on Thursday, May 2nd. The technology company reported $2.30 earnings per share for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.13). WESCO International had a net margin of 3.08% and a return on equity of 15.10%. The company had revenue of $5.35 billion during the quarter, compared to analysts’ expectations of $5.30 billion. During the same period last year, the firm earned $3.75 earnings per share. WESCO International’s revenue was down 3.1% on a year-over-year basis. As a group, research analysts forecast that WESCO International, Inc. will post 14.07 EPS for the current fiscal year.

WESCO International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were given a $0.4125 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.65 dividend on an annualized basis and a yield of 1.05%. WESCO International’s dividend payout ratio (DPR) is presently 13.74%.

Analyst Ratings Changes

Several analysts have recently commented on WCC shares. KeyCorp lifted their price target on shares of WESCO International from $190.00 to $205.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. JPMorgan Chase & Co. dropped their price target on shares of WESCO International from $180.00 to $175.00 and set an “overweight” rating for the company in a research note on Friday, March 15th. StockNews.com upgraded shares of WESCO International from a “hold” rating to a “buy” rating in a research note on Monday, June 24th. Oppenheimer lifted their price objective on shares of WESCO International from $190.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $172.00 price objective on shares of WESCO International in a research report on Thursday, June 20th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, WESCO International has an average rating of “Moderate Buy” and an average price target of $191.17.

WESCO International 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).