Rothschild Asset Management Inc. increased its position in shares of Westar Energy, Inc. (NYSE:WR) by 83.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 54,572 shares of the utilities provider’s stock after buying an additional 24,828 shares during the period. Rothschild Asset Management Inc.’s holdings in Westar Energy were worth $2,893,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. BlackRock Inc. increased its stake in Westar Energy by 4,412.0% in the first quarter. BlackRock Inc. now owns 13,907,609 shares of the utilities provider’s stock worth $754,767,000 after buying an additional 13,599,373 shares in the last quarter. Vanguard Group Inc. increased its stake in Westar Energy by 5.2% in the first quarter. Vanguard Group Inc. now owns 12,424,214 shares of the utilities provider’s stock worth $674,263,000 after buying an additional 618,478 shares in the last quarter. State Street Corp increased its stake in Westar Energy by 1.7% in the first quarter. State Street Corp now owns 4,690,842 shares of the utilities provider’s stock worth $254,580,000 after buying an additional 79,734 shares in the last quarter. Renaissance Technologies LLC increased its stake in Westar Energy by 98.4% in the first quarter. Renaissance Technologies LLC now owns 2,295,300 shares of the utilities provider’s stock worth $124,566,000 after buying an additional 1,138,400 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Westar Energy by 3.7% in the first quarter. Bank of New York Mellon Corp now owns 1,938,172 shares of the utilities provider’s stock worth $105,184,000 after buying an additional 69,839 shares in the last quarter. 73.47% of the stock is owned by hedge funds and other institutional investors.
Westar Energy, Inc. (NYSE WR) traded up 0.24% during mid-day trading on Friday, hitting $51.02. 842,481 shares of the company traded hands. The company has a market capitalization of $7.25 billion, a price-to-earnings ratio of 21.44 and a beta of 0.39. The company’s 50-day moving average price is $50.99 and its 200 day moving average price is $52.83. Westar Energy, Inc. has a one year low of $49.21 and a one year high of $57.50.
Westar Energy (NYSE:WR) last posted its earnings results on Tuesday, August 8th. The utilities provider reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by $0.06. Westar Energy had a return on equity of 8.87% and a net margin of 13.33%. The business had revenue of $609.32 million for the quarter, compared to the consensus estimate of $633.96 million. During the same period in the previous year, the company posted $0.51 earnings per share. On average, analysts anticipate that Westar Energy, Inc. will post $2.50 earnings per share for the current fiscal year.
WR has been the topic of several recent research reports. Zacks Investment Research raised shares of Westar Energy from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a report on Tuesday, June 20th. BidaskClub raised shares of Westar Energy from a “sell” rating to a “hold” rating in a research report on Saturday, August 5th. Evercore ISI raised shares of Westar Energy from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $49.00 to $53.00 in a research report on Tuesday, July 11th. Wolfe Research assumed coverage on shares of Westar Energy in a report on Wednesday, July 26th. They set an “outperform” rating for the company. Finally, J P Morgan Chase & Co upgraded shares of Westar Energy from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $32.00 to $53.00 in a research note on Tuesday, July 11th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. Westar Energy currently has an average rating of “Hold” and a consensus price target of $55.33.
In other news, SVP Bruce A. Akin sold 5,000 shares of the stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $51.50, for a total value of $257,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Larry D. Irick sold 10,000 shares of the stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $51.17, for a total value of $511,700.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,000 shares of company stock valued at $1,484,040. Insiders own 0.61% of the company’s stock.
About Westar Energy
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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