Hudson Valley Investment Advisors Inc. ADV lowered its stake in PPL Corporation (NYSE:PPL) by 0.6% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 24,284 shares of the utilities provider’s stock after selling 150 shares during the period. Hudson Valley Investment Advisors Inc. ADV’s holdings in PPL Corporation were worth $939,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in PPL. Kistler Tiffany Companies LLC boosted its stake in shares of 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. IFC Holdings Incorporated FL boosted its stake in shares of PPL Corporation by 0.5% in the first quarter. IFC Holdings Incorporated FL now owns 6,198 shares of the utilities provider’s stock worth $231,000 after buying an additional 31 shares during the period. SRS Capital Advisors Inc. boosted its stake in shares of PPL Corporation by 0.9% in the first quarter. SRS Capital Advisors Inc. now owns 4,434 shares of the utilities provider’s stock worth $165,000 after buying an additional 38 shares during the period. Concert Wealth Management Inc. boosted its stake in shares of PPL Corporation by 0.4% in the first quarter. Concert Wealth Management Inc. now owns 13,032 shares of the utilities provider’s stock worth $442,000 after buying an additional 46 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH boosted its stake in shares of PPL Corporation by 0.6% in the first quarter. Fort Washington Investment Advisors Inc. OH now owns 9,394 shares of the utilities provider’s stock worth $351,000 after buying an additional 58 shares during the period. 71.03% of the stock is owned by institutional investors and hedge funds.
PPL Corporation (PPL) traded up 0.83% during mid-day trading on Monday, reaching $37.67. The company’s stock had a trading volume of 2,997,548 shares. PPL Corporation has a 52 week low of $32.08 and a 52 week high of $40.20. The stock has a market capitalization of $25.74 billion, a price-to-earnings ratio of 14.11 and a beta of 0.50. The firm has a 50-day moving average of $39.28 and a 200-day moving average of $36.92.
PPL Corporation (NYSE:PPL) last announced its earnings results on Thursday, May 4th. The utilities provider reported $0.62 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.62. PPL Corporation had a net margin of 24.46% and a return on equity of 16.28%. The company had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the previous year, the business earned $0.67 EPS. The company’s revenue was down 3.0% on a year-over-year basis. On average, equities research analysts expect that PPL Corporation will post $2.16 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, July 3rd. Shareholders of record on Friday, June 9th were paid a dividend of $0.395 per share. This represents a $1.58 annualized dividend and a yield of 4.19%. The ex-dividend date of this dividend was Wednesday, June 7th. PPL Corporation’s dividend payout ratio (DPR) is currently 59.18%.
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A number of analysts recently issued reports on the company. Zacks Investment Research raised PPL Corporation from a “hold” rating to a “buy” rating and set a $42.00 target price for the company in a research report on Wednesday, July 12th. BidaskClub cut PPL Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Goldman Sachs Group, Inc. (The) raised PPL Corporation from a “sell” rating to a “neutral” rating and upped their target price for the company from $35.00 to $38.00 in a research report on Monday, June 26th. Jefferies Group LLC upped their target price on PPL Corporation from $36.50 to $39.00 and gave the company a “hold” rating in a research report on Monday, April 24th. Finally, Barclays PLC reissued an “equal weight” rating and issued a $41.00 target price (up from $38.00) on shares of PPL Corporation in a research report on Sunday, April 23rd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $38.80.
In other PPL Corporation news, insider Gregory N. Dudkin sold 8,228 shares of the business’s stock in a transaction 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 sale, the insider now directly owns 39,693 shares of the company’s stock, valued at approximately $1,569,858.15. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.42% of the stock is owned by insiders.
PPL Corporation 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. PPL operates through U.K.
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