29,802 WEC Energy Group, Inc. $WEC Shares Sold by Boston Trust Walden Corp

Key Points

• Boston Trust Walden reduced its WEC Energy Group holdings by 16.7% in the third quarter, selling 29,802 shares and retaining 148,466 shares valued at about $15.0 million.
• WEC reported quarterly EPS of $1.18, beating the $0.97 analyst estimate, while revenue rose 8.9% year over year. It declared a quarterly dividend of $0.9525 per share, equivalent to a 3.2% annualized yield.
• Analysts’ consensus rating was Hold, with an average price target of $117.88; the stock opened at $118.64 in the reported session.

Boston Trust Walden Corp cut its holdings in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 16.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 148,466 shares of the utilities provider's stock after selling 29,802 shares during the period. Boston Trust Walden Corp's holdings in WEC Energy Group were worth $14,962,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. lifted its stake in WEC Energy Group by 972.7% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 236 shares of the utilities provider's stock valued at $28,000 after acquiring an additional 214 shares during the period. John Boyer Inc. purchased a new stake in shares of WEC Energy Group during the 3rd quarter valued at about $25,000. Compass Financial Management LLC purchased a new stake in shares of WEC Energy Group during the 2nd quarter valued at about $29,000. Silvant Capital Management LLC bought a new stake in shares of WEC Energy Group in the second quarter worth approximately $34,000. Finally, Paladin Partners LLC bought a new stake in shares of WEC Energy Group in the second quarter worth approximately $34,000. 77.20% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Ulice Payne, Jr. sold 980 shares of WEC Energy Group stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $105.58, for a total transaction of $103,468.40. Following the transaction, the director owned 19,588 shares in the company, valued at $2,068,101.04. This trade represents a 4.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.46% of the company's stock.

Analyst Upgrades and Downgrades

WEC has been the subject of several research reports. KeyCorp decreased their price objective on shares of WEC Energy Group from $117.00 to $111.00 and set an "overweight" rating for the company in a report on Tuesday, October 13th. LADENBURG THALM/SH SH dropped their target price on shares of WEC Energy Group from $110.50 to $108.50 and set a "neutral" rating on the stock in a report on Wednesday, August 19th. HSBC assumed coverage on shares of WEC Energy Group in a research report on Thursday, October 22nd. They issued a "hold" rating and a $106.50 target price for the company. Scotiabank boosted their target price on shares of WEC Energy Group from $117.00 to $128.00 and gave the company a "sector outperform" rating in a research note on Friday, October 30th. Finally, BTIG Research reissued a "buy" rating and set a $130.00 price target on shares of WEC Energy Group in a report on Friday, October 30th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, WEC Energy Group currently has a consensus rating of "Hold" and an average target price of $117.88.

WEC Energy Group Trading Up 0.4%

WEC Energy Group stock opened at $118.64 on Friday. The business has a 50-day simple moving average of $106.67 and a two-hundred day simple moving average of $111.63. The company has a market cap of $39.03 billion, a P/E ratio of 21.53, a P/E/G ratio of 2.43 and a beta of 0.43. WEC Energy Group, Inc. has a 52-week low of $99.80 and a 52-week high of $120.15. The company has a quick ratio of 0.36, a current ratio of 0.53 and a debt-to-equity ratio of 1.34.

WEC Energy Group (NYSE:WEC - Get Free Report) last issued its quarterly earnings data on Thursday, October 29th. The utilities provider reported $1.18 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.21. The firm had revenue of $2.29 billion for the quarter, compared to analysts' expectations of $2.27 billion. WEC Energy Group had a net margin of 17.54% and a return on equity of 13.49%. The business's quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.83 EPS. Analysts predict that WEC Energy Group, Inc. will post 5.61 EPS for the current year.

WEC Energy Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, November 13th will be given a $0.9525 dividend. The ex-dividend date is Friday, November 13th. This represents a $3.81 annualized dividend and a yield of 3.2%. WEC Energy Group's dividend payout ratio (DPR) is presently 69.15%.

WEC Energy Group Company Profile

WEC Energy Group, Inc is an energy holding company headquartered in Milwaukee, Wisconsin. Through its operating companies, the company generates and delivers electricity and provides natural gas distribution, storage and related energy services to residential, commercial and industrial customers.

WEC Energy's principal utility businesses include We Energies and Wisconsin Public Service in Wisconsin, Michigan Gas Utilities, Minnesota Energy Resources, Upper Michigan Energy Resources and North Dakota utility operations.

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