Luminus Management LLC boosted its holdings in shares of PPL Corp (NYSE:PPL) by 3.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,594,023 shares of the utilities provider’s stock after purchasing an additional 49,999 shares during the quarter. PPL comprises about 1.0% of Luminus Management LLC’s investment portfolio, making the stock its 23rd largest position. Luminus Management LLC owned about 0.23% of PPL worth $49,335,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in PPL. Cutler Capital Management LLC purchased a new stake in PPL during the third quarter valued at $114,000. Taylor Hoffman Wealth Management purchased a new stake in PPL during the fourth quarter valued at $124,000. Cerebellum GP LLC purchased a new stake in PPL during the fourth quarter valued at $128,000. Crewe Advisors LLC purchased a new stake in PPL during the fourth quarter valued at $133,000. Finally, Calton & Associates Inc. purchased a new stake in PPL during the fourth quarter valued at $156,000. 71.50% of the stock is currently owned by institutional investors.
PPL Corp (NYSE PPL) opened at $27.85 on Monday. The company has a quick ratio of 0.49, a current ratio of 0.57 and a debt-to-equity ratio of 1.84. The company has a market cap of $19,114.13, a PE ratio of 16.79, a PEG ratio of 1.98 and a beta of 0.54. PPL Corp has a 1-year low of $27.12 and a 1-year high of $40.20.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Friday, March 9th will be issued a $0.41 dividend. The ex-dividend date is Thursday, March 8th. This is a boost from PPL’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a dividend yield of 5.89%. PPL’s dividend payout ratio is presently 100.00%.
A number of equities research analysts recently issued reports on PPL shares. Zacks Investment Research raised shares of PPL from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a research note on Tuesday, December 12th. Canaccord Genuity reaffirmed a “buy” rating and set a $48.00 price target on shares of PPL in a research note on Thursday, November 30th. SunTrust Banks reissued a “buy” rating and issued a $42.00 target price on shares of PPL in a research note on Tuesday, December 26th. Deutsche Bank raised shares of PPL from a “hold” rating to a “buy” rating and reduced their target price for the company from $39.00 to $36.00 in a research note on Thursday, January 18th. Finally, ValuEngine raised shares of PPL from a “hold” rating to a “buy” rating in a research note on Thursday, January 11th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $37.50.
In other news, insider Gregory N. Dudkin sold 2,378 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $29.19, for a total value of $69,413.82. Following the transaction, the insider now directly owns 23,562 shares in the company, valued at $687,774.78. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Victor A. Staffieri sold 4,232 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $29.20, for a total transaction of $123,574.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,978 shares of company stock worth $1,652,939. Company insiders own 0.40% of the company’s stock.
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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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