Nomura Asset Management Co. Ltd. Sells 3,036 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Nomura Asset Management Co. Ltd. cut its holdings in WEC Energy Group, Inc. (NYSE:WEC) by 2.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 123,049 shares of the utilities provider’s stock after selling 3,036 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in WEC Energy Group were worth $11,572,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in WEC. Larson Financial Group LLC raised its stake in shares of WEC Energy Group by 3,828.6% in the fourth quarter. Larson Financial Group LLC now owns 275 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 268 shares during the last quarter. Human Investing LLC purchased a new position in WEC Energy Group in the 4th quarter worth about $52,000. Cullen Frost Bankers Inc. lifted its stake in WEC Energy Group by 140.8% during the 4th quarter. Cullen Frost Bankers Inc. now owns 590 shares of the utilities provider’s stock valued at $55,000 after acquiring an additional 345 shares during the period. Flagship Wealth Advisors LLC purchased a new stake in shares of WEC Energy Group during the 4th quarter valued at about $56,000. Finally, Bank of Jackson Hole Trust bought a new stake in shares of WEC Energy Group in the fourth quarter worth approximately $59,000. 77.20% of the stock is currently owned by hedge funds and other institutional investors.

WEC Energy Group Trading Up 1.2 %

WEC Energy Group stock opened at $107.50 on Monday. The company has a current ratio of 0.60, a quick ratio of 0.43 and a debt-to-equity ratio of 1.37. WEC Energy Group, Inc. has a 12-month low of $77.47 and a 12-month high of $110.19. The firm has a market capitalization of $33.95 billion, a price-to-earnings ratio of 22.26, a P/E/G ratio of 2.60 and a beta of 0.45. The firm has a 50 day moving average of $103.59 and a 200 day moving average of $98.94.

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

Analysts Set New Price Targets

Several brokerages recently issued reports on WEC. Barclays upgraded shares of WEC Energy Group from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $89.00 to $93.00 in a report on Thursday, January 2nd. 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. BMO Capital Markets increased their target price on WEC Energy Group from $95.00 to $100.00 and gave the company a “market perform” rating in a report on Wednesday, February 5th. StockNews.com downgraded WEC Energy Group from a “hold” rating to a “sell” rating in a research note on Thursday, February 6th. Finally, Wells Fargo & Company increased their price objective on shares of WEC Energy Group from $112.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. One 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $101.88.

Insider Activity

In related news, Director Gale E. Klappa sold 25,000 shares of WEC Energy Group stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $108.62, for a total transaction of $2,715,500.00. Following the sale, the director now owns 274,955 shares of the company’s stock, valued at approximately $29,865,612.10. This trade represents a 8.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ulice Payne, Jr. sold 1,150 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now owns 21,951 shares of the company’s stock, valued at $2,286,635.67. The trade was a 4.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

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.