WCM Investment Management LLC Purchases 7,667 Shares of Public Service Enterprise Group Incorporated (NYSE:PEG)

WCM Investment Management LLC lifted its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 133.1% in the third quarter, HoldingsChannel.com reports. The fund owned 13,426 shares of the utilities provider’s stock after buying an additional 7,667 shares during the period. WCM Investment Management LLC’s holdings in Public Service Enterprise Group were worth $1,185,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Heritage Wealth Management Inc. bought a new position in shares of Public Service Enterprise Group in the 2nd quarter valued at $422,000. QRG Capital Management Inc. raised its stake in Public Service Enterprise Group by 28.0% during the second quarter. QRG Capital Management Inc. now owns 70,927 shares of the utilities provider’s stock worth $5,227,000 after acquiring an additional 15,505 shares in the last quarter. CWM LLC lifted its holdings in shares of Public Service Enterprise Group by 72.3% in the second quarter. CWM LLC now owns 20,786 shares of the utilities provider’s stock worth $1,532,000 after acquiring an additional 8,723 shares during the last quarter. Czech National Bank boosted its stake in shares of Public Service Enterprise Group by 8.3% in the 2nd quarter. Czech National Bank now owns 94,913 shares of the utilities provider’s stock valued at $6,995,000 after purchasing an additional 7,235 shares in the last quarter. Finally, Diversified Trust Co bought a new stake in shares of Public Service Enterprise Group during the 2nd quarter valued at approximately $585,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Richard T. Thigpen sold 5,900 shares of Public Service Enterprise Group stock in a transaction on Monday, November 11th. The shares were sold at an average price of $87.95, for a total value of $518,905.00. Following the completion of the sale, the senior vice president now owns 25,829 shares in the company, valued at $2,271,660.55. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP Tamara Louise Linde sold 19,127 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $80.26, for a total value of $1,535,133.02. Following the transaction, the executive vice president now owns 67,524 shares of the company’s stock, valued at approximately $5,419,476.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Richard T. Thigpen sold 5,900 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $87.95, for a total value of $518,905.00. Following the sale, the senior vice president now directly owns 25,829 shares of the company’s stock, valued at $2,271,660.55. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 46,910 shares of company stock worth $3,916,760. Corporate insiders own 0.57% of the company’s stock.

Analysts Set New Price Targets

PEG has been the topic of a number of research analyst reports. Wells Fargo & Company raised their target price on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Evercore ISI raised their price objective on Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. LADENBURG THALM/SH SH raised Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 5th. Bank of America lifted their price target on Public Service Enterprise Group from $84.00 to $88.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Finally, Morgan Stanley upped their price objective on Public Service Enterprise Group from $83.00 to $95.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $86.69.

Public Service Enterprise Group Price Performance

PEG stock opened at $86.73 on Wednesday. The company has a quick ratio of 0.46, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. The firm has a market cap of $43.21 billion, a price-to-earnings ratio of 21.31, a PEG ratio of 3.14 and a beta of 0.61. The company’s fifty day simple moving average is $86.95 and its 200 day simple moving average is $79.51. Public Service Enterprise Group Incorporated has a 12-month low of $56.85 and a 12-month high of $92.20.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The company had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.44 billion. During the same period in the previous year, the business earned $0.85 EPS. The firm’s revenue was up 7.6% compared to the same quarter last year. On average, analysts expect that Public Service Enterprise Group Incorporated will post 3.66 earnings per share for the current year.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates in electric and gas utility business in the United States. It operates through PSE&G and PSEG Power segments. The PSE&G segment transmits electricity; distributes electricity and natural gas to residential, commercial, and industrial customers; and appliance services and repairs to customers through its service territory, as well as invests in solar generation projects, and energy efficiency and related programs.