FineMark National Bank & Trust Has $760,000 Position in WEC Energy Group, Inc. (NYSE:WEC)

FineMark National Bank & Trust decreased its stake in WEC Energy Group, Inc. (NYSE:WEC) by 6.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,079 shares of the utilities provider’s stock after selling 559 shares during the period. FineMark National Bank & Trust’s holdings in WEC Energy Group were worth $760,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Geode Capital Management LLC grew its stake in WEC Energy Group by 1.3% in the third quarter. Geode Capital Management LLC now owns 7,952,851 shares of the utilities provider’s stock valued at $762,453,000 after purchasing an additional 105,580 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of WEC Energy Group by 17.0% during the 3rd 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. Wellington Management Group LLP increased its holdings in shares of WEC Energy Group by 17,270.5% during the 3rd 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 last quarter. Charles Schwab Investment Management Inc. raised its stake in WEC Energy Group by 2.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,863,782 shares of the utilities provider’s stock valued at $363,350,000 after acquiring an additional 87,711 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in WEC Energy Group by 2.1% during the 4th quarter. Bank of New York Mellon Corp now owns 2,261,706 shares of the utilities provider’s stock valued at $212,691,000 after purchasing an additional 46,609 shares during the last quarter. Institutional investors and hedge funds 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 stock in a transaction that occurred on Tuesday, March 4th. The shares were 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 in the company, valued at approximately $29,865,612.10. This trade represents a 8.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ulice Payne, Jr. sold 1,150 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $104.17, for a total transaction of $119,795.50. Following the transaction, the director now owns 21,951 shares of the company’s stock, valued at approximately $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 currently owned by company insiders.

WEC Energy Group Stock Down 1.4 %

NYSE WEC opened at $104.32 on Wednesday. The company has a current ratio of 0.60, a quick ratio of 0.43 and a debt-to-equity ratio of 1.37. The company has a market cap of $32.95 billion, a price-to-earnings ratio of 21.60, a PEG ratio of 2.60 and a beta of 0.45. The company has a 50 day moving average of $103.06 and a 200-day moving average of $98.70. WEC Energy Group, Inc. has a 1-year low of $77.47 and a 1-year high of $110.19.

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

Wall Street Analyst Weigh In

WEC has been the topic of several research reports. Bank of America upgraded shares of WEC Energy Group from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $90.00 to $98.00 in a report on Thursday, December 12th. Wells Fargo & Company increased their price target on shares of WEC Energy Group from $112.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, February 5th. Scotiabank boosted their price objective on WEC Energy Group from $103.00 to $110.00 and gave the stock a “sector outperform” rating in a report on Monday, December 9th. BMO Capital Markets increased their target price on WEC Energy Group from $95.00 to $100.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 5th. Finally, StockNews.com cut WEC Energy Group from a “hold” rating to a “sell” rating in a report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $101.88.

About WEC Energy Group

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.