Glenview Trust Co Buys 6,614 Shares of Public Service Enterprise Group Incorporated $PEG

Glenview Trust Co lifted its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 226,167 shares of the utilities provider’s stock after purchasing an additional 6,614 shares during the quarter. Glenview Trust Co’s holdings in Public Service Enterprise Group were worth $18,308,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of PEG. Commerzbank Aktiengesellschaft FI increased its position in Public Service Enterprise Group by 3.3% during the first quarter. Commerzbank Aktiengesellschaft FI now owns 18,710 shares of the utilities provider’s stock valued at $1,515,000 after acquiring an additional 592 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Public Service Enterprise Group by 1.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,859,362 shares of the utilities provider’s stock worth $150,528,000 after acquiring an additional 25,864 shares during the last quarter. Scarborough Advisors LLC bought a new stake in shares of Public Service Enterprise Group in the 1st quarter worth about $437,000. KBC Group NV boosted its stake in shares of Public Service Enterprise Group by 15.3% during the 1st quarter. KBC Group NV now owns 123,826 shares of the utilities provider’s stock worth $10,024,000 after purchasing an additional 16,475 shares during the period. Finally, Swiss National Bank grew its holdings in Public Service Enterprise Group by 7.1% during the 1st quarter. Swiss National Bank now owns 1,464,900 shares of the utilities provider’s stock valued at $118,584,000 after purchasing an additional 97,100 shares during the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 2,083 shares of the company’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $80.51, for a total value of $167,702.33. Following the completion of the sale, the chief executive officer directly owned 285,149 shares in the company, valued at approximately $22,957,345.99. This represents a 0.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Kim C. Hanemann sold 3,035 shares of the stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $82.00, for a total value of $248,870.00. Following the transaction, the chief operating officer directly owned 98,815 shares in the company, valued at $8,102,830. The trade was a 2.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 9,284 shares of company stock worth $746,145. 0.19% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on PEG shares. Weiss Ratings downgraded shares of Public Service Enterprise Group from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, June 8th. Wells Fargo & Company increased their price target on Public Service Enterprise Group from $96.00 to $97.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Wall Street Zen raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Truist Financial boosted their price objective on Public Service Enterprise Group from $88.00 to $90.00 and gave the company a “hold” rating in a report on Thursday, July 16th. Finally, Royal Bank Of Canada began coverage on Public Service Enterprise Group in a research report on Thursday, July 2nd. They issued a “sector perform” rating and a $81.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $91.68.

Public Service Enterprise Group Price Performance

Public Service Enterprise Group stock opened at $77.85 on Tuesday. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.97 and a quick ratio of 0.75. The stock has a market cap of $38.80 billion, a price-to-earnings ratio of 17.22, a price-to-earnings-growth ratio of 2.96 and a beta of 0.51. The firm has a 50-day moving average of $79.61 and a two-hundred day moving average of $80.88. Public Service Enterprise Group Incorporated has a 1 year low of $76.05 and a 1 year high of $91.25.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Tuesday, May 5th. The utilities provider reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.11. Public Service Enterprise Group had a net margin of 17.69% and a return on equity of 12.30%. The business had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.35 billion. During the same period last year, the company posted $1.43 earnings per share. The company’s quarterly revenue was up 19.4% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, research analysts forecast that Public Service Enterprise Group Incorporated will post 4.37 earnings per share for the current year.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group (NYSE: PEG) is a diversified energy company that operates primarily in New Jersey. Its core businesses include a regulated utility that delivers electric and natural gas service to residential, commercial and industrial customers, as well as generation and energy services operations that participate in wholesale power markets. The company’s activities encompass transmission and distribution, power generation operations, and related energy infrastructure services.

The regulated utility arm, Public Service Electric and Gas Company (PSE&G), is responsible for owning and maintaining electric and gas networks, connecting customers, performing meter and billing services, and managing system reliability and storm response.