Zurcher Kantonalbank Zurich Cantonalbank Boosts Stake in WEC Energy Group, Inc. (NYSE:WEC)

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 19.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 87,642 shares of the utilities provider’s stock after purchasing an additional 14,466 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in WEC Energy Group were worth $8,242,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of WEC. Mizuho Securities USA LLC raised its stake in shares of WEC Energy Group by 106,685.0% in the third quarter. Mizuho Securities USA LLC now owns 26,000,000 shares of the utilities provider’s stock worth $2,500,680,000 after purchasing an additional 25,975,652 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of WEC Energy Group by 17,270.5% in the third quarter. Wellington Management Group LLP now owns 4,718,179 shares of the utilities provider’s stock worth $453,794,000 after acquiring an additional 4,691,017 shares during the period. Raymond James Financial Inc. bought a new stake in shares of WEC Energy Group in the fourth quarter worth $188,879,000. Charles Schwab Investment Management Inc. grew its holdings in shares of WEC Energy Group by 102.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,776,071 shares of the utilities provider’s stock worth $362,971,000 after acquiring an additional 1,912,223 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in shares of WEC Energy Group by 17.0% in the third quarter. JPMorgan Chase & Co. now owns 4,806,360 shares of the utilities provider’s stock worth $462,276,000 after acquiring an additional 699,177 shares during the period. Hedge funds and other institutional investors own 77.20% of the company’s stock.

Insider Buying and Selling

In related news, Director Gale E. Klappa sold 25,000 shares of the business’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $108.62, for a total value of $2,715,500.00. Following the sale, the director now directly owns 274,955 shares in the company, valued at approximately $29,865,612.10. The trade was a 8.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ulice Payne, Jr. sold 1,150 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $104.17, for a total value of $119,795.50. Following the completion of the sale, the director now owns 21,951 shares in the company, valued at $2,286,635.67. This represents a 4.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is owned by company insiders.

WEC Energy Group Stock Performance

NYSE WEC opened at $104.97 on Friday. The firm has a market cap of $33.15 billion, a price-to-earnings ratio of 21.73, a price-to-earnings-growth ratio of 2.60 and a beta of 0.45. The company has a quick ratio of 0.43, a current ratio of 0.60 and a debt-to-equity ratio of 1.37. The business has a 50-day moving average price of $100.99 and a 200-day moving average price of $97.89. WEC Energy Group, Inc. has a twelve month low of $77.47 and a twelve month high of $110.19.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings data on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.06). The business had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.50 billion. WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. The business’s revenue was up 3.0% on a year-over-year basis. During the same period last year, the company earned $1.10 EPS. As a group, equities research analysts predict that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on WEC shares. KeyCorp lifted their price objective on WEC Energy Group from $108.00 to $109.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Wells Fargo & Company lifted their price objective on WEC Energy Group from $112.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, February 5th. Barclays raised WEC Energy Group from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $89.00 to $93.00 in a report on Thursday, January 2nd. StockNews.com lowered WEC Energy Group from a “hold” rating to a “sell” rating in a report on Thursday, February 6th. Finally, Bank of America raised WEC Energy Group from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $90.00 to $98.00 in a report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $101.88.

WEC Energy Group 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.