Vinva Investment Management Ltd Reduces Holdings in PG&E Co. (NYSE:PCG)

Vinva Investment Management Ltd decreased its holdings in shares of PG&E Co. (NYSE:PCG) by 1.4% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 44,964 shares of the utilities provider’s stock after selling 661 shares during the period. Vinva Investment Management Ltd’s holdings in PG&E were worth $905,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Versant Capital Management Inc grew its stake in shares of PG&E by 68.3% during the fourth quarter. Versant Capital Management Inc now owns 1,543 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 626 shares during the last quarter. Commerce Bank grew its stake in shares of PG&E by 1.5% during the third quarter. Commerce Bank now owns 47,051 shares of the utilities provider’s stock worth $930,000 after acquiring an additional 712 shares during the last quarter. Baker Tilly Wealth Management LLC grew its stake in shares of PG&E by 4.6% during the fourth quarter. Baker Tilly Wealth Management LLC now owns 16,337 shares of the utilities provider’s stock worth $330,000 after acquiring an additional 715 shares during the last quarter. Continuum Advisory LLC grew its stake in shares of PG&E by 11.4% during the third quarter. Continuum Advisory LLC now owns 7,501 shares of the utilities provider’s stock worth $157,000 after acquiring an additional 769 shares during the last quarter. Finally, iA Global Asset Management Inc. boosted its position in PG&E by 2.6% in the third quarter. iA Global Asset Management Inc. now owns 31,545 shares of the utilities provider’s stock valued at $624,000 after buying an additional 812 shares during the last quarter. Hedge funds and other institutional investors own 78.56% of the company’s stock.

Insider Transactions at PG&E

In other news, Director Arno Lockheart Harris acquired 6,389 shares of PG&E stock in a transaction that occurred on Thursday, February 20th. The stock was purchased at an average cost of $15.66 per share, with a total value of $100,051.74. Following the purchase, the director now owns 14,864 shares in the company, valued at $232,770.24. This trade represents a 75.39 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Carla J. Peterman sold 32,521 shares of the stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $16.37, for a total value of $532,368.77. Following the completion of the transaction, the executive vice president now directly owns 183,635 shares of the company’s stock, valued at approximately $3,006,104.95. This represents a 15.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.15% of the company’s stock.

PG&E Trading Up 0.6 %

Shares of PCG stock opened at $17.20 on Friday. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.05 and a quick ratio of 1.00. The company has a market cap of $45.93 billion, a price-to-earnings ratio of 14.95, a PEG ratio of 1.09 and a beta of 1.04. The stock has a 50 day simple moving average of $16.17 and a 200-day simple moving average of $18.81. PG&E Co. has a 1-year low of $14.99 and a 1-year high of $21.72.

PG&E (NYSE:PCG) last announced its earnings results on Thursday, February 13th. The utilities provider reported $0.31 earnings per share for the quarter, hitting the consensus estimate of $0.31. The business had revenue of $6.63 billion during the quarter, compared to the consensus estimate of $7.29 billion. PG&E had a return on equity of 10.94% and a net margin of 10.27%. During the same period in the prior year, the company posted $0.47 EPS. On average, equities research analysts expect that PG&E Co. will post 1.49 EPS for the current fiscal year.

PG&E Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.58%. The ex-dividend date is Monday, March 31st. PG&E’s payout ratio is 8.70%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on PCG shares. Barclays dropped their target price on PG&E from $24.00 to $23.00 and set an “overweight” rating on the stock in a research report on Monday, January 27th. Guggenheim lowered PG&E from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 18th. Mizuho upped their target price on PG&E from $24.00 to $26.00 and gave the company an “outperform” rating in a research report on Wednesday, November 27th. Morgan Stanley upped their target price on PG&E from $16.50 to $17.50 and gave the company an “underweight” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $22.00 target price on shares of PG&E in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $22.05.

PG&E Company Profile

PG&E Corp. operates as a holding company, which engages in generation, transmission, and distribution of electricity and natural gas to customers. It specializes in energy, utility, power, gas, electricity, solar and sustainability. The company was founded in 1995 and is headquartered in Oakland, CA.