Vestmark Advisory Solutions Inc. Buys Shares of 3,202 Public Service Enterprise Group Incorporated $PEG

Vestmark Advisory Solutions Inc. bought a new position in Public Service Enterprise Group Incorporated (NYSE:PEG) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 3,202 shares of the utilities provider’s stock, valued at approximately $270,000.

Other large investors have also recently modified their holdings of the company. Cbre Investment Management Listed Real Assets LLC grew its stake in Public Service Enterprise Group by 70.5% in the second quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,415,693 shares of the utilities provider’s stock valued at $119,173,000 after purchasing an additional 585,591 shares during the last quarter. Savant Capital LLC raised its holdings in shares of Public Service Enterprise Group by 7.5% during the second quarter. Savant Capital LLC now owns 11,215 shares of the utilities provider’s stock worth $944,000 after purchasing an additional 786 shares during the last quarter. Quaero Capital S.A. acquired a new position in shares of Public Service Enterprise Group in the 2nd quarter valued at about $461,000. SouthState Corp raised its position in shares of Public Service Enterprise Group by 76.9% in the second quarter. SouthState Corp now owns 2,545 shares of the utilities provider’s stock worth $214,000 after acquiring an additional 1,106 shares during the period. Finally, Sound Shore Management Inc CT increased its position in shares of Public Service Enterprise Group by 32.6% in the second quarter. Sound Shore Management Inc CT now owns 1,025,471 shares of the utilities provider’s stock valued at $86,324,000 after buying an additional 252,375 shares in the last quarter. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Price Performance

Public Service Enterprise Group stock opened at $82.93 on Thursday. The firm has a fifty day moving average of $82.12 and a 200-day moving average of $82.38. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 1.30. Public Service Enterprise Group Incorporated has a 52-week low of $74.67 and a 52-week high of $95.22. The firm has a market capitalization of $41.40 billion, a P/E ratio of 20.94, a PEG ratio of 2.46 and a beta of 0.55.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Monday, November 3rd. The utilities provider reported $1.13 EPS for the quarter, beating the consensus estimate of $1.02 by $0.11. The company had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $2.80 billion. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%.The business’s revenue was up 22.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.90 EPS. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. As a group, analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Public Service Enterprise Group in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Saturday, September 6th. Morgan Stanley reduced their price target on shares of Public Service Enterprise Group from $105.00 to $103.00 and set an “overweight” rating for the company in a research report on Thursday, September 25th. Evercore ISI assumed coverage on Public Service Enterprise Group in a research report on Tuesday, October 7th. They issued an “in-line” rating and a $83.00 target price for the company. Finally, Barclays boosted their price objective on Public Service Enterprise Group from $82.00 to $87.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 21st. Eight equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.19.

Insider Buying and Selling at Public Service Enterprise Group

In other news, SVP Richard T. Thigpen sold 4,920 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $82.33, for a total transaction of $405,063.60. Following the completion of the transaction, the senior vice president directly owned 26,134 shares in the company, valued at approximately $2,151,612.22. The trade was a 15.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.19% of the stock is currently owned by company insiders.

About Public Service Enterprise Group

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.