Atticus Wealth Management LLC Has $261,000 Stock Holdings in WEC Energy Group, Inc. $WEC

Key Points

• Atticus Wealth Management LLC significantly increased its stake in WEC Energy Group by 1,091.9%, acquiring 2,503 shares worth $261,000 in the 2nd quarter.
• Several institutional investors also made substantial adjustments to their positions, with Nuveen LLC investing $403 million during the 1st quarter.
• Insider transactions included EVP Daniel Krueger and CEO Scott J. Lauber selling significant shares of WEC stock, indicating a decrease in their ownership percentages.

Atticus Wealth Management LLC raised its position in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 1,091.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,503 shares of the utilities provider's stock after purchasing an additional 2,293 shares during the quarter. Atticus Wealth Management LLC's holdings in WEC Energy Group were worth $261,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Truvestments Capital LLC purchased a new stake in WEC Energy Group in the first quarter worth about $25,000. Nova Wealth Management Inc. acquired a new stake in shares of WEC Energy Group during the 1st quarter worth about $26,000. Hughes Financial Services LLC acquired a new position in WEC Energy Group in the 1st quarter valued at about $28,000. Opal Wealth Advisors LLC purchased a new stake in WEC Energy Group during the first quarter worth approximately $32,000. Finally, WPG Advisers LLC purchased a new position in WEC Energy Group in the first quarter worth $35,000. Hedge funds and other institutional investors own 77.20% of the company's stock.

Analyst Upgrades and Downgrades

WEC has been the subject of a number of recent analyst reports. UBS Group set a $107.00 price objective on WEC Energy Group and gave the company a "neutral" rating in a research note on Friday, July 11th. Wall Street Zen downgraded WEC Energy Group from a "hold" rating to a "sell" rating in a report on Saturday, July 12th. Finally, The Goldman Sachs Group cut WEC Energy Group from a "neutral" rating to a "sell" rating and decreased their price objective for the company from $106.00 to $100.00 in a report on Wednesday, June 25th. Three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $106.89.

Insider Buying and Selling at WEC Energy Group

In related news, EVP Daniel Krueger sold 5,930 shares of the company's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $111.14, for a total value of $659,060.20. Following the completion of the sale, the executive vice president owned 6,606 shares of the company's stock, valued at approximately $734,190.84. This represents a 47.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Scott J. Lauber sold 9,231 shares of the company's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $110.88, for a total transaction of $1,023,533.28. Following the sale, the chief executive officer owned 56,443 shares in the company, valued at $6,258,399.84. The trade was a 14.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 68,448 shares of company stock valued at $7,581,132. 0.50% of the stock is owned by company insiders.

WEC Energy Group Trading Up 0.7%

NYSE:WEC traded up $0.76 during trading hours on Friday, reaching $110.23. The company's stock had a trading volume of 3,179,202 shares, compared to its average volume of 1,888,194. The firm has a market capitalization of $35.48 billion, a price-to-earnings ratio of 21.12, a PEG ratio of 3.01 and a beta of 0.44. WEC Energy Group, Inc. has a 1 year low of $91.94 and a 1 year high of $111.90. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.40 and a current ratio of 0.55. The firm has a 50-day simple moving average of $108.42 and a 200-day simple moving average of $106.94.

WEC Energy Group (NYSE:WEC - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The utilities provider reported $0.76 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.71 by $0.05. The company had revenue of $2.01 billion during the quarter, compared to analysts' expectations of $1.87 billion. WEC Energy Group had a net margin of 17.87% and a return on equity of 12.90%. WEC Energy Group's revenue was up 13.4% on a year-over-year basis. During the same period last year, the company posted $0.67 EPS. WEC Energy Group has set its FY 2025 guidance at 5.170-5.270 EPS. Research analysts expect that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

WEC Energy Group Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Thursday, August 14th were given a dividend of $0.8925 per share. The ex-dividend date was Thursday, August 14th. This represents a $3.57 dividend on an annualized basis and a yield of 3.2%. WEC Energy Group's dividend payout ratio is currently 68.39%.

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.