IFM Investors Pty Ltd Sells 19,644 Shares of WEC Energy Group, Inc. $WEC

Key Points

• IFM Investors Pty Ltd has reduced its holdings in WEC Energy Group by 22.7%, now owning 66,890 shares worth approximately $7.29 million.
• CEO Scott J. Lauber sold 9,231 shares of WEC stock for over $1 million, resulting in a 14.06% decrease in his ownership stake.
• WEC Energy Group reported earnings of $0.76 per share for the latest quarter, beating estimates and showing a 13.4% increase in revenue year-over-year.

IFM Investors Pty Ltd cut its holdings in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 22.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,890 shares of the utilities provider's stock after selling 19,644 shares during the period. IFM Investors Pty Ltd's holdings in WEC Energy Group were worth $7,290,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Truvestments Capital LLC acquired a new position in shares of WEC Energy Group during the 1st quarter valued at about $25,000. Hughes Financial Services LLC acquired a new position in shares of WEC Energy Group during the 1st quarter valued at about $28,000. Opal Wealth Advisors LLC acquired a new position in shares of WEC Energy Group during the 1st quarter valued at about $32,000. WPG Advisers LLC acquired a new position in shares of WEC Energy Group during the 1st quarter valued at about $35,000. Finally, Golden State Wealth Management LLC increased its position in WEC Energy Group by 252.6% during the 1st quarter. Golden State Wealth Management LLC now owns 342 shares of the utilities provider's stock worth $37,000 after purchasing an additional 245 shares in the last quarter. 77.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at WEC Energy Group

In related news, Director Gale E. Klappa sold 35,000 shares of the stock in a transaction dated 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 completion of the sale, the director directly owned 274,969 shares of the company's stock, valued at approximately $30,447,317.37. This represents a 11.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Daniel Krueger sold 5,930 shares of the stock in a transaction dated Monday, August 4th. The stock was 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 directly 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 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. Corporate insiders own 0.50% of the company's stock.

WEC Energy Group Stock Performance

Shares of WEC traded up $0.80 during trading hours on Friday, reaching $110.52. 1,532,663 shares of the company's stock traded hands, compared to its average volume of 1,989,527. The firm has a market capitalization of $35.57 billion, a price-to-earnings ratio of 21.17, a P/E/G ratio of 3.02 and a beta of 0.44. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.55 and a quick ratio of 0.40. WEC Energy Group, Inc. has a twelve month low of $91.94 and a twelve month high of $111.90. The business's fifty day simple moving average is $107.92 and its two-hundred day simple moving average is $106.84.

WEC Energy Group (NYSE:WEC - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The utilities provider reported $0.76 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 company had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same period last year, the company earned $0.67 earnings per share. The company'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. Analysts predict that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

WEC Energy Group Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Thursday, August 14th were paid a dividend of $0.8925 per share. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $3.57 annualized dividend and a yield of 3.2%. WEC Energy Group's dividend payout ratio (DPR) is currently 68.39%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on WEC shares. UBS Group set a $107.00 target price on shares of WEC Energy Group and gave the stock a "neutral" rating in a research report on Friday, July 11th. The Goldman Sachs Group cut 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 research note on Wednesday, June 25th. Finally, Wall Street Zen cut WEC Energy Group from a "hold" rating to a "sell" rating in a research note on Saturday, July 12th. Three equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $106.40.

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.