Alta Capital Management LLC Has $3.94 Million Position in WEC Energy Group, Inc. $WEC

Alta Capital Management LLC reduced its stake in WEC Energy Group, Inc. (NYSE:WEC) by 5.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 37,850 shares of the utilities provider’s stock after selling 1,996 shares during the quarter. Alta Capital Management LLC’s holdings in WEC Energy Group were worth $3,944,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Horizon Investment Services LLC bought a new position in WEC Energy Group in the 1st quarter worth approximately $379,000. Los Angeles Capital Management LLC increased its position in WEC Energy Group by 2,964.9% in the 1st 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 period. AustralianSuper Pty Ltd bought a new position in WEC Energy Group in the 1st quarter worth approximately $10,333,000. Sowell Financial Services LLC bought a new position in WEC Energy Group in the 1st quarter worth approximately $325,000. Finally, CWA Asset Management Group LLC increased its position in WEC Energy Group by 5.6% in the 1st 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 period. 77.20% of the stock is owned by institutional investors.

WEC Energy Group Price Performance

Shares of WEC stock opened at $117.28 on Thursday. The stock’s fifty day simple moving average is $110.30 and its 200 day simple moving average is $107.86. 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 firm has a market cap of $37.75 billion, a price-to-earnings ratio of 22.47, a P/E/G ratio of 3.28 and a beta of 0.47. WEC Energy Group, Inc. has a one year low of $91.94 and a one year high of $117.48.

WEC Energy Group (NYSE:WEC) last announced its quarterly earnings results on Tuesday, September 2nd. The utilities provider reported $1.43 EPS for the quarter. The business had revenue of $2.28 billion for the quarter. WEC Energy Group had a return on equity of 12.90% and a net margin of 17.87%. On average, analysts expect that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Molly A. Mulroy sold 4,030 shares of WEC Energy Group stock in a transaction dated Friday, August 1st. The stock was 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. The trade was a 40.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Daniel Krueger sold 5,930 shares of WEC Energy Group stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $111.14, for a total value of $659,060.20. Following the completion of the transaction, the executive vice president directly owned 6,606 shares of the company’s stock, valued at $734,190.84. This represents a 47.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 68,448 shares of company stock valued at $7,581,132 over the last three months. Company insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. LADENBURG THALM/SH SH raised WEC Energy Group from a “neutral” rating to a “buy” rating in a research report on Monday. KeyCorp boosted their price objective on WEC Energy Group from $110.00 to $123.00 and gave the company an “overweight” rating in a research report on Wednesday. Scotiabank boosted their price objective on WEC Energy Group from $115.00 to $129.00 and gave the company an “outperform” rating in a research report on Monday, October 6th. UBS Group boosted their price objective on WEC Energy Group from $117.00 to $122.00 and gave the company a “neutral” rating in a research report on Friday, October 10th. Finally, The Goldman Sachs Group cut WEC Energy Group from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $106.00 to $100.00 in a research report on Wednesday, June 25th. Six research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, WEC Energy Group has an average rating of “Hold” and an average price target of $113.60.

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.