HB Wealth Management LLC Sells 3,817 Shares of WEC Energy Group, Inc. (NYSE:WEC)

HB Wealth Management LLC cut its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 39.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,848 shares of the utilities provider’s stock after selling 3,817 shares during the period. HB Wealth Management LLC’s holdings in WEC Energy Group were worth $492,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of WEC. Quilter Plc bought a new stake in WEC Energy Group during the first quarter valued at about $234,348,000. Achmea Investment Management B.V. bought a new stake in WEC Energy Group during the first quarter valued at about $27,000. First Manhattan Co. boosted its holdings in WEC Energy Group by 102.0% during the fourth quarter. First Manhattan Co. now owns 303 shares of the utilities provider’s stock valued at $28,000 after acquiring an additional 153 shares during the period. Valued Wealth Advisors LLC bought a new stake in WEC Energy Group during the fourth quarter valued at about $28,000. Finally, VitalStone Financial LLC bought a new stake in WEC Energy Group during the second quarter valued at about $35,000. 77.20% of the stock is currently owned by institutional investors.

Insider Transactions at WEC Energy Group

In other news, Chairman Gale E. Klappa sold 37,180 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $78.69, for a total transaction of $2,925,694.20. Following the completion of the sale, the chairman now owns 274,782 shares of the company’s stock, valued at $21,622,595.58. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Chairman Gale E. Klappa sold 37,180 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $78.69, for a total transaction of $2,925,694.20. Following the sale, the chairman now directly owns 274,782 shares of the company’s stock, valued at $21,622,595.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Scott J. Lauber sold 2,830 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $78.89, for a total transaction of $223,258.70. Following the sale, the chief executive officer now directly owns 43,125 shares in the company, valued at $3,402,131.25. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

WEC has been the subject of a number of recent analyst reports. StockNews.com cut shares of WEC Energy Group from a “hold” rating to a “sell” rating in a report on Saturday, January 13th. Bank of America reaffirmed an “underperform” rating and set a $78.00 price objective (down previously from $84.00) on shares of WEC Energy Group in a research report on Thursday, January 4th. Barclays cut their price objective on shares of WEC Energy Group from $79.00 to $75.00 and set an “underweight” rating for the company in a research report on Thursday, February 8th. KeyCorp upped their price objective on shares of WEC Energy Group from $94.00 to $95.00 and gave the company an “overweight” rating in a research report on Thursday, January 4th. Finally, Mizuho cut their price objective on shares of WEC Energy Group from $88.00 to $86.00 and set a “buy” rating for the company in a research report on Monday, December 18th. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $86.17.

WEC Energy Group Stock Performance

NYSE:WEC opened at $81.18 on Thursday. The firm has a market capitalization of $25.61 billion, a PE ratio of 19.24, a price-to-earnings-growth ratio of 2.78 and a beta of 0.40. The firm has a 50-day moving average price of $79.42 and a 200 day moving average price of $81.74. The company has a quick ratio of 0.40, a current ratio of 0.55 and a debt-to-equity ratio of 1.29. WEC Energy Group, Inc. has a 12-month low of $75.13 and a 12-month high of $99.26.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Thursday, February 1st. The utilities provider reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.02. The company had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.82 billion. WEC Energy Group had a net margin of 14.98% and a return on equity of 12.17%. The company’s revenue was down 13.3% on a year-over-year basis. During the same quarter last year, the business posted $0.80 earnings per share. Research analysts anticipate that WEC Energy Group, Inc. will post 4.88 earnings per share for the current fiscal year.

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.