Russell Investments Group Ltd. Sells 47,161 Shares of Westar Energy Inc (WR)
Russell Investments Group Ltd. trimmed its position in shares of Westar Energy Inc (NYSE:WR) by 19.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 196,406 shares of the utilities provider’s stock after selling 47,161 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.14% of Westar Energy worth $9,741,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its stake in shares of Westar Energy by 1.3% during the third quarter. Bank of New York Mellon Corp now owns 1,987,350 shares of the utilities provider’s stock valued at $98,572,000 after purchasing an additional 25,378 shares in the last quarter. Teacher Retirement System of Texas acquired a new position in shares of Westar Energy in the third quarter worth approximately $9,904,000. Rhumbline Advisers lifted its stake in shares of Westar Energy by 11.5% in the third quarter. Rhumbline Advisers now owns 319,605 shares of the utilities provider’s stock worth $15,852,000 after acquiring an additional 32,855 shares during the period. Toronto Dominion Bank lifted its stake in shares of Westar Energy by 243.7% in the third quarter. Toronto Dominion Bank now owns 6,001 shares of the utilities provider’s stock worth $298,000 after acquiring an additional 4,255 shares during the period. Finally, New York State Common Retirement Fund lifted its stake in shares of Westar Energy by 2.2% in the third quarter. New York State Common Retirement Fund now owns 301,100 shares of the utilities provider’s stock worth $14,935,000 after acquiring an additional 6,500 shares during the period. 73.66% of the stock is currently owned by hedge funds and other institutional investors.
In other Westar Energy news, SVP Greg A. Greenwood sold 8,100 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $53.92, for a total value of $436,752.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Larry D. Irick sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $54.38, for a total value of $271,900.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 55,100 shares of company stock worth $2,991,312. Insiders own 0.70% of the company’s stock.
Westar Energy (NYSE:WR) last posted its quarterly earnings data on Tuesday, October 31st. The utilities provider reported $1.11 EPS for the quarter, missing the Zacks’ consensus estimate of $1.20 by ($0.09). Westar Energy had a return on equity of 8.94% and a net margin of 13.32%. The company had revenue of $794.33 million during the quarter, compared to analyst estimates of $773.96 million. During the same period in the prior year, the firm earned $1.09 earnings per share. Westar Energy’s revenue was up 3.9% compared to the same quarter last year. analysts predict that Westar Energy Inc will post 2.45 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 8th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.84%. The ex-dividend date is Thursday, December 7th. Westar Energy’s dividend payout ratio (DPR) is presently 66.39%.
A number of equities analysts recently commented on WR shares. J P Morgan Chase & Co set a $58.00 price objective on Westar Energy and gave the stock a “buy” rating in a research note on Thursday, October 12th. Bank of America started coverage on Westar Energy in a research note on Tuesday, October 24th. They issued a “buy” rating and a $57.00 price objective on the stock. Zacks Investment Research raised Westar Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, November 28th. Finally, Wells Fargo & Company raised Westar Energy from a “market perform” rating to an “outperform” rating and set a $55.00 price objective on the stock in a research note on Monday, October 2nd. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $55.75.
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Westar Energy Company Profile
Westar Energy, Inc is an electric utility. The Company provides electric generation, transmission and distribution services. The Company provides these services in central and northeastern Kansas, including the cities of Topeka, Lawrence, Manhattan, Salina and Hutchinson. Its subsidiary, Kansas Gas and Electric Company (KGE), provides these services in south-central and southeastern Kansas, including the city of Wichita.
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