Boston Advisors LLC decreased its stake in shares of PPL Corp. (NYSE:PPL) by 88.4% during the second quarter, Holdings Channel reports. The fund owned 44,477 shares of the company’s stock after selling 340,050 shares during the period. Boston Advisors LLC’s holdings in PPL Corp. were worth $1,679,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. State Street Corp raised its stake in shares of PPL Corp. by 8.8% in the first quarter. State Street Corp now owns 33,738,639 shares of the company’s stock valued at $1,284,426,000 after buying an additional 2,729,972 shares during the last quarter. Bank of Montreal Can acquired a new stake in shares of PPL Corp. during the second quarter valued at approximately $49,323,000. Renaissance Technologies LLC raised its stake in shares of PPL Corp. by 1,649.5% in the first quarter. Renaissance Technologies LLC now owns 1,347,100 shares of the company’s stock valued at $51,284,000 after buying an additional 1,270,100 shares during the last quarter. Nordea Investment Management AB raised its stake in shares of PPL Corp. by 14.0% in the second quarter. Nordea Investment Management AB now owns 9,434,152 shares of the company’s stock valued at $356,139,000 after buying an additional 1,159,792 shares during the last quarter. Finally, NN Investment Partners Holdings N.V. acquired a new stake in shares of PPL Corp. during the first quarter valued at approximately $28,247,000. Institutional investors own 69.52% of the company’s stock.
Shares of PPL Corp. (NYSE:PPL) traded down 0.72% during mid-day trading on Friday, hitting $34.57. The company had a trading volume of 4,998,489 shares. The firm has a market capitalization of $23.44 billion, a PE ratio of 13.41 and a beta of 0.35. PPL Corp. has a 52 week low of $32.18 and a 52 week high of $39.92. The firm has a 50-day moving average price of $35.01 and a 200-day moving average price of $37.05.
PPL Corp. (NYSE:PPL) last announced its quarterly earnings results on Tuesday, August 9th. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.03. PPL Corp. had a return on equity of 14.77% and a net margin of 23.56%. The company had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter in the previous year, the business earned $0.49 EPS. PPL Corp.’s revenue was up .2% compared to the same quarter last year. Equities analysts forecast that PPL Corp. will post $2.35 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Friday, September 9th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Wednesday, September 7th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.40%. PPL Corp.’s dividend payout ratio (DPR) is 58.69%.
Several brokerages have issued reports on PPL. Barclays PLC lowered PPL Corp. from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $41.00 to $42.00 in a report on Monday, June 27th. Vetr upgraded PPL Corp. from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a report on Thursday, July 14th. Hilliard Lyons lowered PPL Corp. from a “buy” rating to a “neutral” rating in a report on Tuesday, June 28th. Argus cut their price target on PPL Corp. from $45.00 to $41.00 and set a “buy” rating on the stock in a report on Friday, September 9th. Finally, Jefferies Group lowered PPL Corp. from a “buy” rating to a “hold” rating and cut their price target for the stock from $41.50 to $38.00 in a report on Thursday, July 14th. Ten investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $37.86.
In other PPL Corp. news, VP Joseph P. Bergstein, Jr. sold 1,581 shares of the company’s stock in a transaction that occurred on Friday, July 8th. The stock was sold at an average price of $37.06, for a total transaction of $58,591.86. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Robert A. Symons sold 13,901 shares of the company’s stock in a transaction that occurred on Monday, July 11th. The stock was sold at an average price of $37.40, for a total value of $519,897.40. The disclosure for this sale can be found here. Company insiders own 0.42% of the company’s stock.
PPL Corp. Company Profile
PPL Corporation (PPL) is a utility holding company. Through its subsidiaries, PPL delivers electricity to customers in the United Kingdom, Pennsylvania, Kentucky, Virginia and Tennessee; delivers natural gas to customers in Kentucky, and generates electricity from power plants in Kentucky. It operates through three segments: U.K.
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