M&T Bank Corp raised its holdings in shares of PPL Corp (NYSE:PPL) by 9.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 182,552 shares of the utilities provider’s stock after acquiring an additional 16,026 shares during the quarter. M&T Bank Corp’s holdings in PPL were worth $5,172,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Arlington Partners LLC purchased a new stake in shares of PPL during the fourth quarter valued at approximately $28,000. Ipswich Investment Management Co. Inc. purchased a new stake in shares of PPL during the fourth quarter valued at approximately $41,000. Mondrian Investment Partners LTD purchased a new stake in shares of PPL during the fourth quarter valued at approximately $42,000. Reilly Financial Advisors LLC raised its stake in shares of PPL by 39.5% during the fourth quarter. Reilly Financial Advisors LLC now owns 2,120 shares of the utilities provider’s stock valued at $60,000 after purchasing an additional 600 shares during the period. Finally, Sound Income Strategies LLC raised its stake in shares of PPL by 623.7% during the fourth quarter. Sound Income Strategies LLC now owns 3,481 shares of the utilities provider’s stock valued at $99,000 after purchasing an additional 3,000 shares during the period. 75.88% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:PPL opened at $31.29 on Friday. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.58 and a quick ratio of 0.51. The firm has a market capitalization of $22.36 billion, a P/E ratio of 13.91, a P/E/G ratio of 2.54 and a beta of 0.55. PPL Corp has a 12-month low of $25.30 and a 12-month high of $32.46.
In related news, insider Gregory N. Dudkin sold 9,430 shares of PPL stock in a transaction on Wednesday, January 23rd. The shares were sold at an average price of $29.91, for a total value of $282,051.30. Following the completion of the sale, the insider now owns 37,503 shares in the company, valued at $1,121,714.73. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Paul W. Thompson sold 4,573 shares of PPL stock in a transaction on Thursday, December 27th. The stock was sold at an average price of $28.25, for a total transaction of $129,187.25. Following the completion of the sale, the chairman now owns 7,419 shares of the company’s stock, valued at approximately $209,586.75. The disclosure for this sale can be found here. In the last 90 days, insiders sold 46,623 shares of company stock valued at $1,403,738. Insiders own 0.38% of the company’s stock.
COPYRIGHT VIOLATION WARNING: “M&T Bank Corp Acquires 16,026 Shares of PPL Corp (PPL)” was first published by Chaffey Breeze and is owned by of Chaffey Breeze. If you are reading this piece on another domain, it was illegally copied and republished in violation of international trademark and copyright legislation. The legal version of this piece can be viewed at https://www.chaffeybreeze.com/2019/02/09/mt-bank-corp-acquires-16026-shares-of-ppl-corp-ppl.html.
PPL Corporation, a utility holding company, delivers electricity and natural gas in the United States and the United Kingdom. The company operates in three segments: U.K. Regulated, Kentucky Regulated, and Pennsylvania Regulated. It serves 411,000 electric and 326,000 natural gas customers in Louisville and adjacent areas in Kentucky; 525,000 customers in central, southeastern, and western Kentucky; and approximately 28,000 customers in 5 counties in southwestern Virginia, and 3 customers in Tennessee.
Further Reading: Why is the ROA ratio important?
Want to see what other hedge funds are holding PPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PPL Corp (NYSE:PPL).
Receive News & Ratings for PPL Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PPL and related companies with MarketBeat.com's FREE daily email newsletter.