Campbell Newman Asset Management Inc. Acquires 148,336 Shares of WEC Energy Group, Inc. $WEC

Key Points

• Campbell Newman Asset Management Inc. increased its holdings in WEC Energy Group by 69.6%, acquiring 148,336 additional shares, making WEC its 11th largest holding valued at approximately $37.7 million.
• Insider selling occurred, with EVP Daniel Krueger selling 5,930 shares and Director Gale E. Klappa selling 35,000 shares, indicating a decrease in ownership for both parties.
• The company reported strong quarterly earnings with $0.76 EPS, exceeding estimates, and increased revenue of $2.01 billion, up 13.4% year-over-year.

Campbell Newman Asset Management Inc. grew its holdings in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 69.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 361,394 shares of the utilities provider's stock after buying an additional 148,336 shares during the quarter. WEC Energy Group makes up about 3.0% of Campbell Newman Asset Management Inc.'s investment portfolio, making the stock its 11th largest holding. Campbell Newman Asset Management Inc. owned approximately 0.11% of WEC Energy Group worth $37,657,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in WEC. Truvestments Capital LLC purchased a new stake in WEC Energy Group in the first quarter worth $25,000. Nova Wealth Management Inc. bought a new position in WEC Energy Group in the 1st quarter worth $26,000. Hughes Financial Services LLC bought a new position in WEC Energy Group in the 1st quarter worth $28,000. Opal Wealth Advisors LLC purchased a new stake in shares of WEC Energy Group in the 1st quarter worth about $32,000. Finally, ORG Partners LLC boosted its stake in shares of WEC Energy Group by 65.7% during the 2nd quarter. ORG Partners LLC now owns 328 shares of the utilities provider's stock valued at $34,000 after purchasing an additional 130 shares in the last quarter. 77.20% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at WEC Energy Group

In related news, EVP Daniel Krueger sold 5,930 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $111.14, for a total transaction 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 $734,190.84. This trade represents a 47.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gale E. Klappa sold 35,000 shares of the business's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $110.73, for a total transaction of $3,875,550.00. Following the completion of the transaction, the director owned 274,969 shares of the company's stock, valued at approximately $30,447,317.37. The trade was a 11.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 68,448 shares of company stock valued at $7,581,132. 0.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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

WEC Energy Group Stock Performance

Shares of WEC opened at $114.16 on Tuesday. The company has a quick ratio of 0.40, a current ratio of 0.55 and a debt-to-equity ratio of 1.28. The stock has a market cap of $36.75 billion, a P/E ratio of 21.87, a P/E/G ratio of 3.10 and a beta of 0.44. The business's 50 day moving average price is $109.07 and its 200-day moving average price is $107.22. WEC Energy Group, Inc. has a 52 week low of $91.94 and a 52 week high of $114.36.

WEC Energy Group (NYSE:WEC - Get Free Report) last announced its quarterly earnings data 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. WEC Energy Group had a return on equity of 12.90% and a net margin of 17.87%.The business had revenue of $2.01 billion during the quarter, compared to analysts' expectations of $1.87 billion. During the same quarter in the previous year, the business earned $0.67 earnings per share. The firm's quarterly revenue was up 13.4% compared to the same quarter last year. WEC Energy Group has set its FY 2025 guidance at 5.170-5.270 EPS. Equities research analysts anticipate that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

WEC Energy Group Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Thursday, August 14th were issued a $0.8925 dividend. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $3.57 annualized dividend and a yield of 3.1%. WEC Energy Group's payout ratio is 68.39%.

WEC Energy Group Profile

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.

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