Korea Investment CORP Lowers Holdings in WEC Energy Group, Inc. $WEC

Korea Investment CORP trimmed its stake in WEC Energy Group, Inc. (NYSE:WEC) by 23.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 215,604 shares of the utilities provider’s stock after selling 67,513 shares during the quarter. Korea Investment CORP’s holdings in WEC Energy Group were worth $24,706,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of WEC. Vanguard Group Inc. lifted its holdings in shares of WEC Energy Group by 2.1% during the second quarter. Vanguard Group Inc. now owns 39,945,761 shares of the utilities provider’s stock valued at $4,162,348,000 after purchasing an additional 816,243 shares in the last quarter. Balyasny Asset Management L.P. increased its holdings in WEC Energy Group by 324.1% in the 2nd quarter. Balyasny Asset Management L.P. now owns 774,679 shares of the utilities provider’s stock worth $80,722,000 after buying an additional 592,028 shares in the last quarter. Marshall Wace LLP raised its position in WEC Energy Group by 160.6% in the 2nd quarter. Marshall Wace LLP now owns 943,962 shares of the utilities provider’s stock worth $98,361,000 after buying an additional 581,748 shares during the last quarter. Rakuten Investment Management Inc. bought a new position in WEC Energy Group during the 3rd quarter valued at about $57,028,000. Finally, Massachusetts Financial Services Co. MA bought a new position in WEC Energy Group during the 3rd quarter valued at about $40,362,000. 77.20% of the stock is owned by hedge funds and other institutional investors.

WEC Energy Group Price Performance

Shares of NYSE:WEC opened at $114.41 on Wednesday. The firm’s 50 day moving average price is $111.34 and its 200-day moving average price is $110.66. WEC Energy Group, Inc. has a twelve month low of $100.61 and a twelve month high of $118.18. The company has a quick ratio of 0.44, a current ratio of 0.59 and a debt-to-equity ratio of 1.35. The stock has a market capitalization of $37.24 billion, a PE ratio of 23.69, a price-to-earnings-growth ratio of 2.78 and a beta of 0.58.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Thursday, February 5th. The utilities provider reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. WEC Energy Group had a net margin of 15.90% and a return on equity of 12.40%. The company had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter last year, the firm posted $1.43 earnings per share. The firm’s revenue was down 8.8% compared to the same quarter last year. WEC Energy Group has set its FY 2026 guidance at 5.510-5.610 EPS. Equities research analysts expect that WEC Energy Group, Inc. will post 5.23 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $127.00 price target on shares of WEC Energy Group in a research note on Friday, January 23rd. Wells Fargo & Company dropped their target price on shares of WEC Energy Group from $124.00 to $117.00 and set an “overweight” rating on the stock in a report on Tuesday, January 20th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $121.00 target price on shares of WEC Energy Group in a research report on Friday, February 6th. KeyCorp boosted their target price on shares of WEC Energy Group from $117.00 to $126.00 and gave the company an “overweight” rating in a research note on Wednesday, March 4th. Finally, Mizuho increased their price target on WEC Energy Group from $117.00 to $121.00 and gave the company an “outperform” rating in a report on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, WEC Energy Group presently has an average rating of “Moderate Buy” and a consensus price target of $120.67.

Insider Buying and Selling at WEC Energy Group

In other news, Director Ulice Payne, Jr. sold 1,450 shares of the business’s stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $114.60, for a total transaction of $166,170.00. Following the completion of the sale, the director owned 20,541 shares of the company’s stock, valued at $2,353,998.60. The trade was a 6.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Mary Beth Straka sold 2,815 shares of the company’s stock in a transaction on Friday, February 13th. The stock was sold at an average price of $115.50, for a total value of $325,132.50. Following the completion of the sale, the vice president owned 4,707 shares of the company’s stock, valued at $543,658.50. This trade represents a 37.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 42,354 shares of company stock worth $4,855,505. 0.50% of the stock is owned by insiders.

About WEC Energy Group

WEC Energy Group is a Milwaukee, Wisconsin–based regulated energy holding company whose primary businesses are the generation, transmission and distribution of electricity and the distribution of natural gas. The company operates through a set of utility subsidiaries that provide bundled energy service, customer billing and energy-related programs to residential, commercial and industrial customers. As a regulated utility group, WEC’s operations focus on delivering reliable service while managing infrastructure investment and compliance with state and federal utility regulation.

Its utility subsidiaries include well-known regional operators such as We Energies and Wisconsin Public Service, along with Chicago-area natural gas utilities that were part of the Integrys Energy Group acquisition.