Mesirow Financial Investment Management Inc. Has $2.42 Million Position in WEC Energy Group, Inc. (NYSE:WEC)

Mesirow Financial Investment Management Inc. trimmed its position in shares of WEC Energy Group, Inc. (NYSE:WEC - Free Report) by 47.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,705 shares of the utilities provider's stock after selling 23,137 shares during the period. Mesirow Financial Investment Management Inc.'s holdings in WEC Energy Group were worth $2,417,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of WEC. Mizuho Securities USA LLC raised its stake in WEC Energy Group by 106,685.0% during the third quarter. Mizuho Securities USA LLC now owns 26,000,000 shares of the utilities provider's stock valued at $2,500,680,000 after buying an additional 25,975,652 shares in the last quarter. Geode Capital Management LLC raised its position in shares of WEC Energy Group by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 7,952,851 shares of the utilities provider's stock valued at $762,453,000 after acquiring an additional 105,580 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in WEC Energy Group by 17.0% during the third quarter. JPMorgan Chase & Co. now owns 4,806,360 shares of the utilities provider's stock worth $462,276,000 after purchasing an additional 699,177 shares during the last quarter. Wellington Management Group LLP boosted its holdings in WEC Energy Group by 17,270.5% in the third quarter. Wellington Management Group LLP now owns 4,718,179 shares of the utilities provider's stock worth $453,794,000 after purchasing an additional 4,691,017 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in WEC Energy Group by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,863,782 shares of the utilities provider's stock valued at $363,350,000 after purchasing an additional 87,711 shares during the last quarter. 77.20% of the stock is owned by hedge funds and other institutional investors.

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WEC Energy Group Stock Down 1.0 %

Shares of NYSE WEC traded down $1.05 during mid-day trading on Wednesday, reaching $104.72. The company had a trading volume of 2,699,594 shares, compared to its average volume of 2,009,439. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.43 and a current ratio of 0.60. WEC Energy Group, Inc. has a twelve month low of $77.47 and a twelve month high of $110.19. The stock's 50 day moving average is $100.55 and its 200-day moving average is $97.79. The stock has a market capitalization of $33.07 billion, a PE ratio of 21.68, a price-to-earnings-growth ratio of 2.60 and a beta of 0.45.

WEC Energy Group (NYSE:WEC - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share for the quarter, missing analysts' consensus estimates of $1.49 by ($0.06). The firm had revenue of $2.28 billion for the quarter, compared to analysts' expectations of $2.50 billion. WEC Energy Group had a return on equity of 12.39% and a net margin of 17.75%. The firm's revenue for the quarter was up 3.0% on a year-over-year basis. During the same period last year, the business earned $1.10 earnings per share. As a group, equities analysts anticipate that WEC Energy Group, Inc. will post 5.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Ulice Payne, Jr. sold 1,150 shares of the stock in a transaction dated Monday, February 24th. The stock was 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gale E. Klappa sold 25,000 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $108.62, for a total value of $2,715,500.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.34% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on WEC shares. StockNews.com lowered shares of WEC Energy Group from a "hold" rating to a "sell" rating in a report on Thursday, February 6th. BMO Capital Markets upped 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. Scotiabank raised their price target 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. Barclays upgraded WEC Energy Group from an "underweight" rating to an "equal weight" rating and boosted their price objective for the company from $89.00 to $93.00 in a research report on Thursday, January 2nd. Finally, Wells Fargo & Company raised their target price on WEC Energy Group from $112.00 to $115.00 and gave the company an "overweight" rating in a research note on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus 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.