Toronto Dominion Bank lifted its position in shares of PPL Corp (NYSE:PPL) by 14.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 303,810 shares of the utilities provider’s stock after buying an additional 37,398 shares during the quarter. Toronto Dominion Bank’s holdings in PPL were worth $9,403,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cutler Capital Management LLC purchased a new stake in shares of PPL during the third quarter worth about $114,000. Cerebellum GP LLC purchased a new stake in shares of PPL during the fourth quarter worth about $128,000. Calton & Associates Inc. purchased a new stake in shares of PPL during the fourth quarter worth about $156,000. Bronfman E.L. Rothschild L.P. grew its holdings in shares of PPL by 42.1% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 5,695 shares of the utilities provider’s stock worth $176,000 after buying an additional 1,687 shares in the last quarter. Finally, Green Square Capital LLC purchased a new stake in shares of PPL during the third quarter worth about $215,000. Institutional investors and hedge funds own 70.50% of the company’s stock.
PPL has been the topic of several research analyst reports. Zacks Investment Research raised shares of PPL from a “hold” rating to a “buy” rating and set a $39.00 target price on the stock in a research report on Tuesday, December 12th. Canaccord Genuity reissued a “buy” rating and issued a $48.00 target price on shares of PPL in a research report on Thursday, November 30th. SunTrust Banks reissued a “buy” rating and issued a $42.00 target price on shares of PPL in a research report on Tuesday, December 26th. Deutsche Bank raised shares of PPL from a “hold” rating to a “buy” rating and decreased their target price for the stock from $39.00 to $36.00 in a research report on Thursday, January 18th. Finally, ValuEngine raised shares of PPL from a “hold” rating to a “buy” rating in a research report on Thursday, January 11th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $37.95.
In other PPL news, SVP Joanne H. Raphael sold 5,045 shares of PPL stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $31.60, for a total transaction of $159,422.00. Following the transaction, the senior vice president now directly owns 24,080 shares of the company’s stock, valued at $760,928. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Victor A. Staffieri sold 19,524 shares of PPL stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $31.60, for a total transaction of $616,958.40. Following the transaction, the chairman now directly owns 29,084 shares in the company, valued at $919,054.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 44,163 shares of company stock worth $1,395,587. 0.40% of the stock is currently owned by corporate insiders.
PPL 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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