First Manhattan Co. raised its stake in shares of PPL Corp (NYSE:PPL) by 0.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,147 shares of the utilities provider’s stock after buying an additional 1 shares during the period. First Manhattan Co.’s holdings in PPL Corp were worth $212,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of PPL. Norges Bank acquired a new position in PPL Corp during the fourth quarter valued at $168,881,000. The Manufacturers Life Insurance Company acquired a new position in PPL Corp during the third quarter valued at $70,789,000. LNZ Capital LP acquired a new position in PPL Corp during the third quarter valued at $70,748,000. Russell Investments Group Ltd. purchased a new position in shares of PPL Corp during the fourth quarter valued at $43,989,000. Finally, Thompson Siegel & Walmsley LLC raised its position in shares of PPL Corp by 39.5% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 3,753,962 shares of the utilities provider’s stock valued at $127,822,000 after buying an additional 1,062,016 shares during the last quarter. 71.29% of the stock is currently owned by hedge funds and other institutional investors.
Shares of PPL Corp (NYSE:PPL) opened at 38.82 on Friday. The company’s 50-day moving average price is $38.04 and its 200 day moving average price is $35.71. PPL Corp has a 52 week low of $32.08 and a 52 week high of $39.92. The company has a market cap of $26.52 billion, a P/E ratio of 14.54 and a beta of 0.45.
PPL Corp (NYSE:PPL) last issued its quarterly earnings data on Thursday, May 4th. The utilities provider reported $0.62 earnings per share for the quarter, hitting the consensus estimate of $0.62. PPL Corp had a net margin of 25.30% and a return on equity of 16.76%. The company had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter in the previous year, the firm posted $0.67 earnings per share. PPL Corp’s revenue for the quarter was down 3.0% on a year-over-year basis. On average, equities analysts forecast that PPL Corp will post $2.16 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 3rd. Investors of record on Friday, June 9th will be paid a $0.395 dividend. The ex-dividend date is Wednesday, June 7th. This represents a $1.58 annualized dividend and a dividend yield of 4.07%. PPL Corp’s dividend payout ratio is 54.48%.
Several research analysts have weighed in on the company. Jefferies Group LLC upped their target price on PPL Corp from $36.50 to $39.00 and gave the stock a “hold” rating in a research report on Monday, April 24th. Barclays PLC reaffirmed an “equal weight” rating and issued a $41.00 target price (up from $38.00) on shares of PPL Corp in a research report on Sunday, April 23rd. Finally, Deutsche Bank AG upped their target price on PPL Corp from $36.00 to $38.00 and gave the stock a “hold” rating in a research report on Tuesday, April 11th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $38.00.
In related news, SVP Joanne H. Raphael sold 4,035 shares of the business’s 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 owns 16,799 shares of the company’s stock, valued at $614,339.43. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Paul W. Thompson sold 6,454 shares of the business’s 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 completion of the sale, the insider now directly owns 5,073 shares in the company, valued at approximately $182,628. The disclosure for this sale can be found here. In the last three months, insiders sold 74,023 shares of company stock worth $2,735,876. 0.42% of the stock is currently owned by insiders.
About PPL Corp
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.
Receive News & Ratings for PPL Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PPL Corp and related companies with MarketBeat.com's FREE daily email newsletter.