Rowland & Co. Investment Counsel ADV Trims Stake in WEC Energy Group, Inc. (WEC)

Rowland & Co. Investment Counsel ADV lowered its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 26.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,634 shares of the utilities provider’s stock after selling 4,086 shares during the quarter. Rowland & Co. Investment Counsel ADV’s holdings in WEC Energy Group were worth $715,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. ARGI Investment Services LLC bought a new position in WEC Energy Group in the 2nd quarter valued at $870,000. Principal Financial Group Inc. grew its stake in shares of WEC Energy Group by 362.0% during the 2nd quarter. Principal Financial Group Inc. now owns 2,195,130 shares of the utilities provider’s stock worth $134,737,000 after acquiring an additional 1,719,955 shares during the period. KBC Group NV grew its stake in shares of WEC Energy Group by 14.1% during the 2nd quarter. KBC Group NV now owns 33,577 shares of the utilities provider’s stock worth $2,061,000 after acquiring an additional 4,152 shares during the period. Marshall Wace North America L.P. grew its stake in shares of WEC Energy Group by 493.4% during the 2nd quarter. Marshall Wace North America L.P. now owns 57,675 shares of the utilities provider’s stock worth $3,518,000 after acquiring an additional 47,955 shares during the period. Finally, Swiss National Bank lifted its holdings in WEC Energy Group by 2.2% during the 2nd quarter. Swiss National Bank now owns 1,720,581 shares of the utilities provider’s stock worth $105,609,000 after purchasing an additional 37,600 shares in the last quarter. Hedge funds and other institutional investors own 70.24% of the company’s stock.

In other WEC Energy Group news, VP Susan H. Martin sold 15,000 shares of the business’s stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $66.00, for a total value of $990,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gale E. Klappa sold 100,500 shares of the business’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $64.42, for a total transaction of $6,474,210.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 192,190 shares of company stock valued at $12,435,484. Insiders own 0.97% of the company’s stock.

Shares of WEC Energy Group, Inc. (NYSE WEC) traded down 0.06% during midday trading on Wednesday, hitting $65.46. The stock had a trading volume of 358,609 shares. The company has a market cap of $20.66 billion, a PE ratio of 21.46 and a beta of 0.12. The company’s 50 day moving average is $64.80 and its 200 day moving average is $62.87. WEC Energy Group, Inc. has a 52-week low of $53.66 and a 52-week high of $67.20.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings results on Wednesday, July 26th. The utilities provider reported $0.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.05. The business had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.58 billion. WEC Energy Group had a net margin of 12.72% and a return on equity of 10.75%. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.57 earnings per share. On average, analysts anticipate that WEC Energy Group, Inc. will post $3.10 earnings per share for the current year.

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A number of analysts recently issued reports on the company. BidaskClub raised WEC Energy Group from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. Zacks Investment Research raised WEC Energy Group from a “sell” rating to a “hold” rating in a report on Monday, August 28th. Goldman Sachs Group, Inc. (The) reaffirmed a “sell” rating and issued a $58.00 price target (down previously from $59.00) on shares of WEC Energy Group in a report on Monday, June 26th. Finally, KeyCorp reissued a “hold” rating on shares of WEC Energy Group in a report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $62.50.

WEC Energy Group Company Profile

WEC Energy Group, Inc was a diversified holding company with natural gas and electric utility operations, an approximately 60% equity ownership interest in American Transmission Company LLC, and non-utility electric operations through its We Power business, as of December 31, 2016. Its segments include Wisconsin; Illinois; Other States; Electric Transmission; We Power, and Corporate and Other.

Institutional Ownership by Quarter for WEC Energy Group (NYSE:WEC)

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