Stralem & Co. Inc. lowered its stake in shares of PPL Corporation (NYSE:PPL) by 2.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 710,105 shares of the utilities provider’s stock after selling 16,200 shares during the period. PPL Corporation accounts for approximately 3.2% of Stralem & Co. Inc.’s investment portfolio, making the stock its 7th largest position. Stralem & Co. Inc. owned about 0.10% of PPL Corporation worth $27,453,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Tompkins Financial Corp boosted its stake in PPL Corporation by 114.3% in the first quarter. Tompkins Financial Corp now owns 3,000 shares of the utilities provider’s stock worth $114,000 after buying an additional 1,600 shares during the period. Kistler Tiffany Companies LLC raised its position in PPL Corporation by 0.4% in the first quarter. Kistler Tiffany Companies LLC now owns 4,084 shares of the utilities provider’s stock worth $153,000 after buying an additional 15 shares during the period. Parallel Advisors LLC raised its position in shares of PPL Corporation by 6.1% in the first quarter. Parallel Advisors LLC now owns 4,249 shares of the utilities provider’s stock valued at $161,000 after buying an additional 243 shares during the period. Focused Wealth Management Inc raised its position in shares of PPL Corporation by 352.0% in the first quarter. Focused Wealth Management Inc now owns 4,366 shares of the utilities provider’s stock valued at $163,000 after buying an additional 3,400 shares during the period. Finally, Perigon Wealth Management LLC acquired a new position in shares of PPL Corporation during the fourth quarter valued at approximately $165,000. Institutional investors own 71.05% of the company’s stock.
PPL Corporation (PPL) traded down 0.67% on Friday, reaching $38.49. 1,661,690 shares of the company traded hands. The stock has a 50-day moving average price of $38.36 and a 200-day moving average price of $37.74. The firm has a market cap of $26.40 billion, a P/E ratio of 16.11 and a beta of 0.49. PPL Corporation has a 52-week low of $32.08 and a 52-week high of $40.20.
PPL Corporation (NYSE:PPL) last released its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.02. PPL Corporation had a net margin of 22.08% and a return on equity of 15.96%. The business had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.79 billion. During the same period in the prior year, the company earned $0.56 EPS. The firm’s quarterly revenue was down 3.4% compared to the same quarter last year. Analysts anticipate that PPL Corporation will post $2.15 earnings per share for the current fiscal year.
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PPL has been the subject of a number of research analyst reports. Jefferies Group LLC reissued a “buy” rating and issued a $43.50 target price (up from $42.00) on shares of PPL Corporation in a research report on Wednesday. BidaskClub cut PPL Corporation from a “sell” rating to a “strong sell” rating in a report on Monday, July 31st. Zacks Investment Research raised PPL Corporation from a “hold” rating to a “buy” rating and set a $42.00 price target for the company in a report on Wednesday, July 12th. Goldman Sachs Group, Inc. (The) raised PPL Corporation from a “sell” rating to a “neutral” rating and raised their price target for the stock from $35.00 to $38.00 in a research report on Monday, June 26th. Finally, Barclays PLC reissued an “equal weight” rating and set a $41.00 price target (up previously from $38.00) on shares of PPL Corporation in a research report on Sunday, April 23rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $38.72.
In other news, VP Joseph P. Bergstein, Jr. sold 2,929 shares of PPL Corporation stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $38.55, for a total value of $112,912.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gregory N. Dudkin sold 8,228 shares of the firm’s stock in a transaction that occurred on Monday, June 19th. The shares were sold at an average price of $39.55, for a total transaction of $325,417.40. Following the completion of the transaction, the insider now owns 39,693 shares of the company’s stock, valued at $1,569,858.15. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,740 shares of company stock worth $773,067. 0.42% of the stock is owned by insiders.
About PPL Corporation
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. PPL operates through U.K.
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