PPL Corporation (NYSE:PPL) Shares Sold by Hudson Valley Investment Advisors Inc. ADV

Hudson Valley Investment Advisors Inc. ADV cut its stake in shares of PPL Corporation (NYSE:PPL) by 0.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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.

A number of other large investors have also recently bought and sold shares of the company. Iowa State Bank raised its stake in PPL Corporation by 3.3% in the first quarter. Iowa State Bank now owns 12,929 shares of the utilities provider’s stock valued at $483,000 after buying an additional 415 shares during the period. Tompkins Financial Corp raised 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. Valley National Advisers Inc. raised its stake in PPL Corporation by 3.2% in the first quarter. Valley National Advisers Inc. now owns 57,783 shares of the utilities provider’s stock worth $2,161,000 after buying an additional 1,795 shares during the period. Pacer Advisors Inc. raised its stake in PPL Corporation by 3.3% in the first quarter. Pacer Advisors Inc. now owns 13,543 shares of the utilities provider’s stock worth $506,000 after buying an additional 429 shares during the period. Finally, Bank of Nova Scotia raised its stake in PPL Corporation by 924.3% in the first quarter. Bank of Nova Scotia now owns 156,210 shares of the utilities provider’s stock worth $5,840,000 after buying an additional 140,960 shares during the period. Institutional investors own 71.05% of the company’s stock.

Shares of PPL Corporation (PPL) opened at 38.49 on Friday. The stock’s 50 day moving average is $38.36 and its 200-day moving average is $37.74. The firm has a market capitalization 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 announced its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.52 earnings per share for the quarter, beating 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 firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.79 billion. During the same quarter in the previous year, the firm posted $0.56 earnings per share. The business’s revenue was down 3.4% on a year-over-year basis. On average, equities analysts forecast that PPL Corporation will post $2.15 earnings per share for the current fiscal year.

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A number of research analysts recently commented on the company. Barclays PLC restated an “equal weight” rating and set a $41.00 price target (up from $38.00) on shares of PPL Corporation in a research note on Sunday, April 23rd. Jefferies Group LLC upped their price objective on PPL Corporation from $36.50 to $39.00 and gave the stock a “hold” rating in a research report on Monday, April 24th. Zacks Investment Research raised PPL Corporation from a “hold” rating to a “buy” rating and set a $42.00 price objective on the stock in a research report on Wednesday, July 12th. BidaskClub lowered PPL Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, June 14th. Finally, Goldman Sachs Group, Inc. (The) raised PPL Corporation from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $35.00 to $38.00 in a research report on Monday, June 26th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. PPL Corporation has an average rating of “Hold” and an average price target of $38.72.

In other news, VP Joseph P. Bergstein, Jr. sold 2,929 shares of the business’s 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Vincent Sorgi sold 5,600 shares of the business’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $39.00, for a total transaction of $218,400.00. Following the completion of the sale, the insider now directly owns 97 shares of the company’s stock, valued at approximately $3,783. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,740 shares of company stock worth $773,067. 0.42% of the stock is owned by corporate 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.

Institutional Ownership by Quarter for PPL Corporation (NYSE:PPL)

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