Wrapmanager Inc. reduced its position in PPL Corp (NYSE:PPL) by 0.6% during the first quarter, Holdings Channel reports. The firm owned 31,983 shares of the utilities provider’s stock after selling 204 shares during the period. Wrapmanager Inc.’s holdings in PPL Corp were worth $1,196,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in PPL. Tompkins Financial Corp boosted its position in shares of PPL Corp 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. Patriot Financial Group Insurance Agency LLC bought a new position in shares of PPL Corp during the fourth quarter worth approximately $117,000. Parallel Advisors LLC bought a new position in shares of PPL Corp during the fourth quarter worth approximately $136,000. SRS Capital Advisors Inc. bought a new position in shares of PPL Corp during the fourth quarter worth approximately $150,000. Finally, Perigon Wealth Management LLC bought a new position in shares of PPL Corp during the fourth quarter worth approximately $165,000. 71.29% of the stock is currently owned by institutional investors and hedge funds.
Shares of PPL Corp (NYSE:PPL) traded up 0.532% during midday trading on Friday, hitting $38.745. The stock had a trading volume of 564,012 shares. PPL Corp has a 52-week low of $32.08 and a 52-week high of $39.92. The company’s 50 day moving average is $37.81 and its 200 day moving average is $35.47. The company has a market cap of $26.47 billion, a PE ratio of 14.511 and a beta of 0.45.
PPL Corp (NYSE:PPL) last released its quarterly earnings data on Thursday, May 4th. The utilities provider reported $0.62 EPS for the quarter, hitting the consensus estimate of $0.62. The company had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $2.03 billion. PPL Corp had a return on equity of 16.76% and a net margin of 25.30%. PPL Corp’s quarterly revenue was down 3.0% on a year-over-year basis. During the same period last year, the business posted $0.67 EPS. On average, analysts anticipate that PPL Corp will post $2.16 earnings per share for the current year.
A number of equities analysts have commented on the company. Barclays PLC reaffirmed a “hold” rating and issued a $38.00 price target on shares of PPL Corp in a research note on Thursday, February 2nd. Jefferies Group LLC lifted their price target on PPL Corp from $36.50 to $39.00 and gave the stock a “hold” rating in a research note on Monday, April 24th. Deutsche Bank AG lifted their price target on PPL Corp from $36.00 to $38.00 and gave the stock a “hold” rating in a research note on Tuesday, April 11th. Finally, Goldman Sachs Group Inc cut PPL Corp from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $34.00 to $33.00 in a research note on Tuesday, January 17th. 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. The company has an average rating of “Hold” and a consensus price target of $38.00.
In other PPL Corp news, insider Paul W. Thompson sold 6,454 shares of the stock in a transaction on Tuesday, February 21st. The stock was sold at an average price of $36.00, for a total transaction of $232,344.00. Following the sale, the insider now owns 5,073 shares of the company’s stock, valued at approximately $182,628. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Joanne H. Raphael sold 4,035 shares of the stock in a transaction on Tuesday, February 28th. The shares were sold at an average price of $36.57, for a total value of $147,559.95. Following the sale, the senior vice president now directly owns 16,799 shares in the company, valued at approximately $614,339.43. The disclosure for this sale can be found here. Insiders have sold a total of 74,023 shares of company stock worth $2,735,876 over the last 90 days. 0.42% of the stock is currently owned by company insiders.
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. PPL operates through U.K.
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