Ausbil Investment Management Ltd Sells 106,998 Shares of PG&E Co. (NYSE:PCG)

Ausbil Investment Management Ltd reduced its stake in shares of PG&E Co. (NYSE:PCG) by 31.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 235,233 shares of the utilities provider’s stock after selling 106,998 shares during the quarter. PG&E accounts for 2.9% of Ausbil Investment Management Ltd’s holdings, making the stock its 14th biggest holding. Ausbil Investment Management Ltd’s holdings in PG&E were worth $4,799,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of PCG. Versant Capital Management Inc boosted its stake in PG&E by 68.3% in the fourth quarter. Versant Capital Management Inc now owns 1,543 shares of the utilities provider’s stock valued at $31,000 after buying an additional 626 shares in the last quarter. UMB Bank n.a. raised its position in shares of PG&E by 61.5% during the fourth quarter. UMB Bank n.a. now owns 3,956 shares of the utilities provider’s stock worth $80,000 after acquiring an additional 1,506 shares during the last quarter. Blue Trust Inc. raised its position in shares of PG&E by 77.7% during the third quarter. Blue Trust Inc. now owns 4,195 shares of the utilities provider’s stock worth $83,000 after acquiring an additional 1,834 shares during the last quarter. Catalyst Capital Advisors LLC raised its position in shares of PG&E by 98.5% during the third quarter. Catalyst Capital Advisors LLC now owns 4,340 shares of the utilities provider’s stock worth $86,000 after acquiring an additional 2,154 shares during the last quarter. Finally, Huntington National Bank raised its position in shares of PG&E by 32.9% during the third quarter. Huntington National Bank now owns 4,831 shares of the utilities provider’s stock worth $96,000 after acquiring an additional 1,195 shares during the last quarter. 78.56% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Barclays lowered their price objective on PG&E from $24.00 to $23.00 and set an “overweight” rating for the company in a research report on Monday, January 27th. Mizuho lifted their target price on PG&E from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. UBS Group lowered their target price on PG&E from $24.00 to $22.00 and set a “buy” rating for the company in a report on Thursday. Jefferies Financial Group started coverage on PG&E in a report on Monday, October 14th. They issued a “buy” rating and a $24.00 target price for the company. Finally, BMO Capital Markets started coverage on PG&E in a report on Monday, January 13th. They issued an “outperform” rating and a $21.00 target price for the company. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $22.36.

PG&E Trading Down 0.2 %

Shares of PG&E stock opened at $15.65 on Friday. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.99 and a current ratio of 1.04. PG&E Co. has a 52 week low of $15.32 and a 52 week high of $21.72. The stock has a 50 day moving average price of $19.02 and a two-hundred day moving average price of $19.37. The stock has a market capitalization of $40.94 billion, a PE ratio of 12.23, a price-to-earnings-growth ratio of 1.10 and a beta of 0.98.

PG&E (NYSE:PCG) last announced its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.05. The firm had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $6.58 billion. PG&E had a return on equity of 12.51% and a net margin of 11.11%. The company’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.24 earnings per share. As a group, equities analysts anticipate that PG&E Co. will post 1.36 earnings per share for the current fiscal year.

Insider Activity at PG&E

In related news, CEO Patricia K. Poppe sold 55,555 shares of PG&E stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $20.66, for a total transaction of $1,147,766.30. Following the transaction, the chief executive officer now owns 1,460,222 shares of the company’s stock, valued at $30,168,186.52. The trade was a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.15% of the stock is owned by insiders.

PG&E 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.