PNC Financial Services Group Inc. Has $296.78 Million Stock Holdings in WEC Energy Group, Inc. $WEC

PNC Financial Services Group Inc. grew its position in WEC Energy Group, Inc. (NYSE:WEC) by 9.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,589,930 shares of the utilities provider’s stock after buying an additional 226,894 shares during the period. PNC Financial Services Group Inc. owned approximately 0.80% of WEC Energy Group worth $296,780,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in WEC. AE Wealth Management LLC increased its holdings in shares of WEC Energy Group by 4.9% in the third quarter. AE Wealth Management LLC now owns 171,770 shares of the utilities provider’s stock valued at $19,683,000 after purchasing an additional 7,970 shares during the last quarter. Baillie Gifford & Co. raised its holdings in WEC Energy Group by 53.0% in the 3rd quarter. Baillie Gifford & Co. now owns 131,363 shares of the utilities provider’s stock valued at $15,053,000 after acquiring an additional 45,477 shares during the period. Alley Investment Management Company LLC lifted its position in WEC Energy Group by 36.5% during the third quarter. Alley Investment Management Company LLC now owns 59,519 shares of the utilities provider’s stock worth $6,820,000 after acquiring an additional 15,926 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its holdings in shares of WEC Energy Group by 13.5% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 419,574 shares of the utilities provider’s stock worth $48,079,000 after acquiring an additional 49,905 shares during the period. Finally, Associated Banc Corp grew its position in shares of WEC Energy Group by 64.0% in the third quarter. Associated Banc Corp now owns 39,328 shares of the utilities provider’s stock valued at $4,507,000 after purchasing an additional 15,342 shares during the last quarter. Institutional investors and hedge funds own 77.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on WEC. Weiss Ratings restated a “buy (b)” rating on shares of WEC Energy Group in a research note on Monday, December 29th. Wells Fargo & Company reduced their target price on shares of WEC Energy Group from $124.00 to $117.00 and set an “overweight” rating for the company in a research report on Tuesday, January 20th. UBS Group decreased their price target on shares of WEC Energy Group from $119.00 to $115.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 17th. Mizuho lifted their price objective on shares of WEC Energy Group from $117.00 to $121.00 and gave the stock an “outperform” rating in a research note on Friday, February 6th. Finally, Argus upgraded shares of WEC Energy Group to a “strong-buy” rating in a research report on Monday, February 9th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, WEC Energy Group presently has a consensus rating of “Moderate Buy” and an average target price of $120.07.

Insider Buying and Selling

In other WEC Energy Group news, CEO Scott J. Lauber sold 8,089 shares of the firm’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $110.70, for a total value of $895,452.30. Following the sale, the chief executive officer owned 66,801 shares in the company, valued at $7,394,870.70. This trade represents a 10.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.50% of the stock is currently owned by insiders.

WEC Energy Group Stock Performance

Shares of NYSE:WEC opened at $115.63 on Friday. WEC Energy Group, Inc. has a 1 year low of $100.61 and a 1 year high of $118.18. The stock has a market capitalization of $37.61 billion, a price-to-earnings ratio of 23.94, a price-to-earnings-growth ratio of 2.78 and a beta of 0.58. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.59 and a quick ratio of 0.44. The company’s 50 day simple moving average is $107.67 and its 200 day simple moving average is $109.88.

WEC Energy Group (NYSE:WEC) last issued its earnings results on Thursday, February 5th. The utilities provider reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. WEC Energy Group had a return on equity of 12.40% and a net margin of 15.90%.The firm 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 business posted $1.43 EPS. The company’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. As a group, research analysts predict that WEC Energy Group, Inc. will post 5.23 EPS for the current fiscal year.

WEC Energy Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Friday, February 13th will be issued a dividend of $0.9525 per share. This is a boost from WEC Energy Group’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend is Friday, February 13th. This represents a $3.81 annualized dividend and a dividend yield of 3.3%. WEC Energy Group’s payout ratio is presently 78.88%.

WEC Energy Group Profile

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.