Cbre Investment Management Listed Real Assets LLC Sells 270,358 Shares of WEC Energy Group, Inc. $WEC

Key Points

• Cbre Investment Management Listed Real Assets LLC has reduced its holdings in WEC Energy Group by 20.3%, selling 270,358 shares, which makes up 1.8% of their portfolio.
• WEC Energy Group reported $0.76 EPS for the last quarter, exceeding expectations, with revenues of $2.01 billion, a year-over-year increase of 13.4%.
• The company has recently announced a quarterly dividend of $0.8925, representing an annualized yield of 3.3%, with a dividend payout ratio of 68.39%.

Cbre Investment Management Listed Real Assets LLC cut its holdings in WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 20.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,061,740 shares of the utilities provider's stock after selling 270,358 shares during the period. WEC Energy Group comprises approximately 1.8% of Cbre Investment Management Listed Real Assets LLC's investment portfolio, making the stock its 13th biggest holding. Cbre Investment Management Listed Real Assets LLC owned approximately 0.33% of WEC Energy Group worth $115,708,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Horizon Investment Services LLC acquired a new position in WEC Energy Group during the first quarter worth $379,000. Los Angeles Capital Management LLC increased its holdings in WEC Energy Group by 2,964.9% during the first quarter. Los Angeles Capital Management LLC now owns 108,651 shares of the utilities provider's stock worth $11,841,000 after buying an additional 105,106 shares during the last quarter. AustralianSuper Pty Ltd acquired a new position in WEC Energy Group during the first quarter worth $10,333,000. Sowell Financial Services LLC acquired a new position in WEC Energy Group during the first quarter worth $325,000. Finally, CWA Asset Management Group LLC increased its holdings in WEC Energy Group by 5.6% during the first quarter. CWA Asset Management Group LLC now owns 2,947 shares of the utilities provider's stock worth $321,000 after buying an additional 157 shares during the last quarter. 77.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, 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 value of $1,023,533.28. Following the completion of the transaction, the chief executive officer owned 56,443 shares of the company's stock, valued at $6,258,399.84. This represents a 14.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Molly A. Mulroy sold 4,030 shares of the company's stock in a transaction that occurred on Friday, August 1st. The shares were 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 of the company's stock, valued at $643,113.57. This represents a 40.88% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, 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 Price Performance

WEC stock traded up $0.48 during midday trading on Wednesday, reaching $107.64. The company had a trading volume of 1,867,522 shares, compared to its average volume of 2,216,680. 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 company has a market capitalization of $34.65 billion, a price-to-earnings ratio of 20.62, a price-to-earnings-growth ratio of 2.94 and a beta of 0.42. WEC Energy Group, Inc. has a 1-year low of $91.89 and a 1-year high of $111.90. The stock has a 50 day moving average price of $107.00 and a 200-day moving average price of $106.47.

WEC Energy Group (NYSE:WEC - Get Free Report) last issued its earnings results on Wednesday, July 30th. The utilities provider reported $0.76 EPS for the quarter, topping 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 quarter in the previous year, the firm earned $0.67 earnings per share. WEC Energy Group has set its FY 2025 guidance at 5.170-5.270 EPS. Equities research analysts expect that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

WEC Energy Group Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Thursday, August 14th will be paid a dividend of $0.8925 per share. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $3.57 annualized dividend and a yield of 3.3%. WEC Energy Group's payout ratio is presently 68.39%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on WEC shares. UBS Group set a $107.00 price objective on shares of WEC Energy Group and gave the stock a "neutral" rating in a research report on Friday, July 11th. Wells Fargo & Company lifted their price objective on shares of WEC Energy Group from $115.00 to $124.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 7th. The Goldman Sachs Group cut shares of WEC Energy Group from a "neutral" rating to a "sell" rating and reduced their price objective for the stock from $106.00 to $100.00 in a research report on Wednesday, June 25th. Wall Street Zen cut shares of WEC Energy Group from a "hold" rating to a "sell" rating in a research report on Saturday, July 12th. Finally, Scotiabank set a $115.00 target price on shares of WEC Energy Group and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, WEC Energy Group currently has an average rating of "Hold" and a consensus target price of $106.40.

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.