Dynamic Technology Lab Private Ltd Decreases Stock Holdings in WEC Energy Group, Inc. $WEC

Key Points

• Dynamic Technology Lab Private Ltd reduced its position in WEC Energy Group by 43.1%, now holding 7,351 shares valued at approximately $801,000.
• WEC Energy Group's recent earnings report showed $0.76 EPS, exceeding analysts' expectations of $0.71, with revenue rising 13.4% year-over-year.
• The company's quarterly dividend was recently reported at $0.8925 per share, representing a yield of 3.3% and a payout ratio of 68.39%.

Dynamic Technology Lab Private Ltd trimmed its stake in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 43.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,351 shares of the utilities provider's stock after selling 5,559 shares during the period. Dynamic Technology Lab Private Ltd's holdings in WEC Energy Group were worth $801,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in WEC. Cary Street Partners Financial LLC purchased a new stake in WEC Energy Group during the fourth quarter valued at approximately $170,000. Captrust Financial Advisors increased its holdings in WEC Energy Group by 7.8% during the fourth quarter. Captrust Financial Advisors now owns 26,902 shares of the utilities provider's stock valued at $2,530,000 after buying an additional 1,945 shares during the last quarter. CoreCap Advisors LLC increased its holdings in WEC Energy Group by 18.2% during the fourth quarter. CoreCap Advisors LLC now owns 1,306 shares of the utilities provider's stock valued at $123,000 after buying an additional 201 shares during the last quarter. EP Wealth Advisors LLC increased its holdings in WEC Energy Group by 2.1% during the fourth quarter. EP Wealth Advisors LLC now owns 6,185 shares of the utilities provider's stock valued at $582,000 after buying an additional 125 shares during the last quarter. Finally, Ethic Inc. increased its holdings in WEC Energy Group by 18.8% during the fourth quarter. Ethic Inc. now owns 15,447 shares of the utilities provider's stock valued at $1,453,000 after buying an additional 2,447 shares during the last quarter. 77.20% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on WEC shares. Wall Street Zen cut shares of WEC Energy Group from a "hold" rating to a "sell" rating in a report on Saturday, July 12th. The Goldman Sachs Group cut shares of WEC Energy Group from a "neutral" rating to a "sell" rating and reduced their target price for the company from $106.00 to $100.00 in a report on Wednesday, June 25th. Finally, UBS Group set a $107.00 target price on shares of WEC Energy Group and gave the company a "neutral" rating in a report on Friday, July 11th. Three analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $106.40.

WEC Energy Group Price Performance

Shares of WEC stock traded up $0.80 on Friday, hitting $110.52. 1,532,663 shares of the stock traded hands, compared to its average volume of 2,207,757. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.55 and a quick ratio of 0.40. The firm has a 50 day simple moving average of $107.80 and a two-hundred day simple moving average of $106.80. WEC Energy Group, Inc. has a 52 week low of $91.94 and a 52 week high of $111.90. The firm has a market cap of $35.57 billion, a price-to-earnings ratio of 21.17, a PEG ratio of 3.01 and a beta of 0.44.

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

WEC Energy Group Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 1st. Investors 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 dividend yield of 3.2%. WEC Energy Group's dividend payout ratio is currently 68.39%.

Insider Activity

In related news, CEO Scott J. Lauber sold 9,231 shares of the company's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $110.88, for a total transaction of $1,023,533.28. Following the completion of the transaction, the chief executive officer owned 56,443 shares in the company, valued at approximately $6,258,399.84. This represents a 14.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Anthony Reese sold 4,177 shares of the company's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $110.30, for a total transaction of $460,723.10. Following the transaction, the vice president owned 1,757 shares of the company's stock, valued at approximately $193,797.10. This represents a 70.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 68,448 shares of company stock valued at $7,581,132 in the last quarter. Company insiders own 0.50% of the company's stock.

WEC Energy Group Company 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.