IFM Investors Pty Ltd Trims Holdings in WEC Energy Group, Inc. (NYSE:WEC)

IFM Investors Pty Ltd reduced its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 11.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 94,686 shares of the utilities provider’s stock after selling 12,309 shares during the quarter. IFM Investors Pty Ltd’s holdings in WEC Energy Group were worth $9,107,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in WEC. Global X Japan Co. Ltd. lifted its holdings in WEC Energy Group by 58.1% during the 2nd quarter. Global X Japan Co. Ltd. now owns 321 shares of the utilities provider’s stock valued at $25,000 after buying an additional 118 shares in the last quarter. Olistico Wealth LLC bought a new stake in shares of WEC Energy Group during the second quarter valued at approximately $29,000. William B. Walkup & Associates Inc. purchased a new stake in shares of WEC Energy Group in the second quarter valued at approximately $31,000. FinTrust Capital Advisors LLC grew its stake in WEC Energy Group by 52.6% in the first quarter. FinTrust Capital Advisors LLC now owns 412 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 142 shares in the last quarter. Finally, Triad Wealth Partners LLC purchased a new position in WEC Energy Group during the 2nd quarter worth $36,000. 77.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at WEC Energy Group

In other news, VP Joshua M. Erickson sold 350 shares of WEC Energy Group stock in a transaction on Monday, August 5th. The shares were sold at an average price of $89.75, for a total transaction of $31,412.50. Following the completion of the sale, the vice president now directly owns 2,377 shares in the company, valued at approximately $213,335.75. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other WEC Energy Group news, VP Mary Beth Straka sold 3,240 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $93.04, for a total transaction of $301,449.60. Following the sale, the vice president now owns 3,662 shares in the company, valued at approximately $340,712.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Joshua M. Erickson sold 350 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $89.75, for a total value of $31,412.50. Following the completion of the transaction, the vice president now owns 2,377 shares of the company’s stock, valued at approximately $213,335.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,702 shares of company stock worth $1,078,058. 0.34% of the stock is owned by corporate insiders.

WEC Energy Group Stock Performance

Shares of WEC stock opened at $98.81 on Friday. WEC Energy Group, Inc. has a 12-month low of $75.13 and a 12-month high of $100.31. The business’s fifty day simple moving average is $94.78 and its 200-day simple moving average is $86.43. The company has a current ratio of 0.74, a quick ratio of 0.54 and a debt-to-equity ratio of 1.37. The company has a market cap of $31.23 billion, a PE ratio of 22.82, a PEG ratio of 2.54 and a beta of 0.44.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.04. The company had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.87 billion. WEC Energy Group had a return on equity of 12.26% and a net margin of 15.85%. The firm’s revenue was down 3.2% compared to the same quarter last year. During the same period last year, the business posted $0.92 earnings per share. Analysts expect that WEC Energy Group, Inc. will post 4.87 earnings per share for the current fiscal year.

WEC Energy Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Thursday, November 14th will be given a dividend of $0.835 per share. This represents a $3.34 annualized dividend and a yield of 3.38%. The ex-dividend date of this dividend is Thursday, November 14th. WEC Energy Group’s dividend payout ratio is presently 77.14%.

Analyst Ratings Changes

Several brokerages have weighed in on WEC. Barclays upped their target price on WEC Energy Group from $86.00 to $89.00 and gave the stock an “underweight” rating in a report on Monday, October 7th. Bank of America upped their price objective on shares of WEC Energy Group from $88.00 to $90.00 and gave the stock an “underperform” rating in a research note on Thursday, August 29th. StockNews.com downgraded shares of WEC Energy Group from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Wells Fargo & Company upped their price target on shares of WEC Energy Group from $103.00 to $106.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Finally, KeyCorp lifted their price objective on shares of WEC Energy Group from $103.00 to $108.00 and gave the company an “overweight” rating in a report on Tuesday. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $94.45.

About WEC Energy Group

WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and renewable and nonregulated renewable energy services in the United States. It operates through Wisconsin, Illinois, Other States, Electric Transmission, and Non-Utility Energy Infrastructure segments.