Jacobs Levy Equity Management Inc. Acquires New Shares in WEC Energy Group Inc (NYSE:WEC)
Jacobs Levy Equity Management Inc. acquired a new stake in WEC Energy Group Inc (NYSE:WEC) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 16,226 shares of the utilities provider’s stock, valued at approximately $1,497,000.
Several other hedge funds have also recently added to or reduced their stakes in WEC. Executive Wealth Management LLC raised its holdings in WEC Energy Group by 42.5% in the third quarter. Executive Wealth Management LLC now owns 2,492 shares of the utilities provider’s stock worth $237,000 after purchasing an additional 743 shares in the last quarter. State Street Corp boosted its position in WEC Energy Group by 1.8% in the third quarter. State Street Corp now owns 16,914,958 shares of the utilities provider’s stock valued at $1,608,613,000 after buying an additional 299,918 shares during the last quarter. Virtu Financial LLC purchased a new stake in WEC Energy Group in the 3rd quarter worth approximately $432,000. Equitable Trust Co. purchased a new stake in WEC Energy Group in the 3rd quarter worth approximately $201,000. Finally, Pictet Asset Management Ltd. boosted its position in WEC Energy Group by 8.7% in the 3rd quarter. Pictet Asset Management Ltd. now owns 2,251,754 shares of the utilities provider’s stock worth $214,142,000 after purchasing an additional 181,076 shares in the last quarter. Hedge funds and other institutional investors own 76.67% of the company’s stock.
In other WEC Energy Group news, EVP Robert M. Garvin sold 33,910 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $102.58, for a total value of $3,478,487.80. Following the completion of the sale, the executive vice president now directly owns 43,439 shares of the company’s stock, valued at approximately $4,455,972.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Tom Metcalfe sold 8,835 shares of the firm’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $102.07, for a total value of $901,788.45. Following the completion of the sale, the insider now directly owns 14,069 shares of the company’s stock, valued at $1,436,022.83. The disclosure for this sale can be found here. 0.75% of the stock is currently owned by corporate insiders.
NYSE WEC opened at $80.74 on Thursday. The business has a fifty day moving average price of $97.44 and a 200 day moving average price of $93.78. WEC Energy Group Inc has a one year low of $68.01 and a one year high of $109.53. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.49 and a current ratio of 0.66. The company has a market cap of $22.36 billion, a P/E ratio of 22.55, a P/E/G ratio of 3.05 and a beta of 0.16.
WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Thursday, January 30th. The utilities provider reported $0.77 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.05. WEC Energy Group had a return on equity of 11.18% and a net margin of 15.08%. The firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same period in the prior year, the company earned $0.65 EPS. The firm’s revenue was down 6.2% compared to the same quarter last year. As a group, sell-side analysts predict that WEC Energy Group Inc will post 3.74 EPS for the current fiscal year.
WEC Energy Group Company Profile
WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and nonregulated renewable energy services in the United States. The company operates through six segments: Wisconsin, Illinois, Other States, Electric Transmission, Non-Utility Energy Infrastructure, and Corporate and Other.
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