USS Investment Management Ltd Has $1.89 Million Stock Position in WEC Energy Group, Inc. $WEC

Key Points

• USS Investment Management Ltd reduced its stake in WEC Energy Group by 66%, selling 33,800 shares and leaving them with 17,378 shares valued at approximately $1.89 million.
• Insider trading activity includes VP Anthony Reese selling 4,177 shares and CEO Scott J. Lauber selling 9,231 shares, indicating significant decreases in their ownership percentages.
• Brokerages have lowered their ratings for WEC Energy Group, with Wall Street Zen and Goldman Sachs both issuing "sell" ratings, while the consensus target price remains at $106.40.

USS Investment Management Ltd reduced its stake in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 66.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 17,378 shares of the utilities provider's stock after selling 33,800 shares during the quarter. USS Investment Management Ltd's holdings in WEC Energy Group were worth $1,894,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of WEC. Nuveen LLC acquired a new stake in shares of WEC Energy Group during the 1st quarter worth $403,372,000. GAMMA Investing LLC grew its holdings in shares of WEC Energy Group by 12,777.6% during the 1st quarter. GAMMA Investing LLC now owns 1,834,024 shares of the utilities provider's stock worth $199,872,000 after purchasing an additional 1,819,782 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of WEC Energy Group by 3,815.2% during the 4th quarter. Janus Henderson Group PLC now owns 1,471,096 shares of the utilities provider's stock worth $138,342,000 after purchasing an additional 1,433,522 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of WEC Energy Group by 34.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,213,304 shares of the utilities provider's stock worth $567,727,000 after purchasing an additional 1,349,522 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of WEC Energy Group by 16.6% during the 1st quarter. JPMorgan Chase & Co. now owns 5,103,604 shares of the utilities provider's stock worth $556,191,000 after buying an additional 726,267 shares during the last quarter. 77.20% of the stock is owned by institutional investors and hedge funds.

WEC Energy Group Trading Up 0.7%

WEC Energy Group stock traded up $0.80 during trading hours on Friday, hitting $110.52. The stock had a trading volume of 1,532,663 shares, compared to its average volume of 2,207,757. 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 $35.57 billion, a price-to-earnings ratio of 21.17, a P/E/G ratio of 3.01 and a beta of 0.44. WEC Energy Group, Inc. has a one year low of $91.94 and a one year high of $111.90. The business's 50 day simple moving average is $107.80 and its 200-day simple moving average is $106.80.

WEC Energy Group (NYSE:WEC - Get Free Report) last posted its earnings results on Wednesday, July 30th. The utilities provider reported $0.76 EPS for the quarter, beating the consensus estimate of $0.71 by $0.05. The firm had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.87 billion. WEC Energy Group had a return on equity of 12.90% and a net margin of 17.87%.The business's quarterly revenue was up 13.4% on a year-over-year basis. During the same period last year, the company earned $0.67 earnings per share. WEC Energy Group has set its FY 2025 guidance at 5.170-5.270 EPS. On average, equities analysts predict 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. Stockholders of record on Thursday, August 14th were given a dividend of $0.8925 per share. This represents a $3.57 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Thursday, August 14th. WEC Energy Group's dividend payout ratio (DPR) is 68.39%.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. UBS Group set a $107.00 price objective on WEC Energy Group and gave the stock a "neutral" rating in a research report on Friday, July 11th. Wall Street Zen downgraded WEC Energy Group from a "hold" rating to a "sell" rating in a research report on Saturday, July 12th. Finally, The Goldman Sachs Group downgraded WEC Energy Group from a "neutral" rating to a "sell" rating and dropped their price objective for the stock from $106.00 to $100.00 in a research report on Wednesday, June 25th. Three investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $106.40.

Insider Activity at WEC Energy Group

In related news, Director Gale E. Klappa sold 35,000 shares of WEC Energy Group stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $110.73, for a total value of $3,875,550.00. Following the transaction, the director directly owned 274,969 shares of the company's stock, valued at $30,447,317.37. The trade was a 11.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Molly A. Mulroy sold 4,030 shares of WEC Energy Group stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $110.33, for a total value of $444,629.90. Following the completion of the transaction, the executive vice president directly owned 5,829 shares in the company, valued at approximately $643,113.57. This represents a 40.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 68,448 shares of company stock valued at $7,581,132 over the last ninety days. Insiders own 0.50% of the company's stock.

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.