Wright Investors Service Inc. boosted its stake in shares of PPL Corp (NYSE:PPL) by 6.7% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 33,792 shares of the utilities provider’s stock after purchasing an additional 2,125 shares during the quarter. Wright Investors Service Inc.’s holdings in PPL were worth $1,048,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PPL. Geode Capital Management LLC increased its holdings in PPL by 12.2% during the fourth quarter. Geode Capital Management LLC now owns 10,366,038 shares of the utilities provider’s stock worth $293,399,000 after buying an additional 1,129,588 shares during the last quarter. New Mexico Educational Retirement Board boosted its position in PPL by 0.8% during the first quarter. New Mexico Educational Retirement Board now owns 60,023 shares of the utilities provider’s stock valued at $1,905,000 after purchasing an additional 500 shares in the last quarter. Nwam LLC boosted its position in PPL by 3.6% during the first quarter. Nwam LLC now owns 19,283 shares of the utilities provider’s stock valued at $612,000 after purchasing an additional 664 shares in the last quarter. Centre Asset Management LLC boosted its position in PPL by 3.3% during the first quarter. Centre Asset Management LLC now owns 210,460 shares of the utilities provider’s stock valued at $6,680,000 after purchasing an additional 6,800 shares in the last quarter. Finally, DAVENPORT & Co LLC boosted its position in PPL by 27.8% during the first quarter. DAVENPORT & Co LLC now owns 13,509 shares of the utilities provider’s stock valued at $429,000 after purchasing an additional 2,936 shares in the last quarter. 72.84% of the stock is currently owned by institutional investors.
A number of equities research analysts recently weighed in on PPL shares. UBS Group dropped their price objective on PPL from $37.00 to $36.00 and set a “buy” rating on the stock in a research report on Friday, May 17th. Evercore ISI set a $31.00 price target on PPL and gave the company a “hold” rating in a research report on Wednesday, August 7th. Zacks Investment Research upgraded PPL from a “sell” rating to a “hold” rating and set a $32.00 price target for the company in a research report on Monday, July 22nd. ValuEngine cut PPL from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, GMP Securities reiterated an “average” rating and set a $59.00 price target on shares of PPL in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company. PPL currently has an average rating of “Hold” and an average target price of $35.75.
In other news, insider Philip Swift sold 3,782 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $30.26, for a total value of $114,443.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.34% of the stock is owned by insiders.
Shares of PPL stock traded up $0.06 on Thursday, reaching $29.24. The company’s stock had a trading volume of 190,374 shares, compared to its average volume of 4,224,297. The firm has a market capitalization of $21.17 billion, a P/E ratio of 12.16 and a beta of 0.51. PPL Corp has a 52-week low of $27.31 and a 52-week high of $32.88. The business has a 50-day simple moving average of $30.23. The company has a debt-to-equity ratio of 1.75, a current ratio of 0.55 and a quick ratio of 0.48.
PPL (NYSE:PPL) last posted its quarterly earnings data on Tuesday, August 6th. The utilities provider reported $0.58 EPS for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.02. The business had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.86 billion. PPL had a return on equity of 14.57% and a net margin of 22.97%. The business’s revenue was down 2.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.55 earnings per share. Research analysts expect that PPL Corp will post 2.42 earnings per share for the current year.
PPL Corporation, a utility holding company, delivers electricity and natural gas in the United States and the United Kingdom. The company operates through three segments: U.K. Regulated, Kentucky Regulated, and Pennsylvania Regulated. It serves approximately 414,000 electric and 328,000 natural gas customers in Louisville and adjacent areas in Kentucky; 527,000 electric customers in central, southeastern, and western Kentucky; and 28,000 electric customers in 5 counties in southwestern Virginia.
Featured Article: Earnings Reports
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.