Farmers & Merchants Trust Co of Chambersburg PA cut its stake in shares of PPL Corp (NYSE:PPL) by 10.0% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 85,619 shares of the utilities provider’s stock after selling 9,549 shares during the period. PPL makes up approximately 2.4% of Farmers & Merchants Trust Co of Chambersburg PA’s holdings, making the stock its 6th largest holding. Farmers & Merchants Trust Co of Chambersburg PA’s holdings in PPL were worth $2,718,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Liberty Wealth Management LLC acquired a new position in shares of PPL in the 4th quarter valued at approximately $27,000. Arlington Partners LLC acquired a new position in shares of PPL in the 4th quarter valued at approximately $28,000. Sandy Spring Bank raised its position in shares of PPL by 109.1% during the 4th quarter. Sandy Spring Bank now owns 1,171 shares of the utilities provider’s stock valued at $34,000 after acquiring an additional 611 shares in the last quarter. Berman Capital Advisors LLC acquired a new stake in shares of PPL during the 4th quarter valued at approximately $39,000. Finally, Ipswich Investment Management Co. Inc. acquired a new stake in shares of PPL during the 4th quarter valued at approximately $41,000. 74.71% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts recently issued reports on the company. Zacks Investment Research lowered PPL from a “hold” rating to a “sell” rating in a research report on Thursday, March 14th. Royal Bank of Canada lowered PPL from an “outperform” rating to a “sector perform” rating and upped their price target for the company from $32.00 to $33.00 in a research report on Friday, March 8th. They noted that the move was a valuation call. SunTrust Banks reissued a “buy” rating and set a $35.00 price target on shares of PPL in a research report on Wednesday, February 13th. Evercore ISI lowered PPL from an “outperform” rating to an “in-line” rating in a research report on Thursday, February 7th. Finally, Bank of America lowered PPL from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $29.00 to $28.00 in a research report on Monday, January 14th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. PPL has a consensus rating of “Hold” and a consensus target price of $34.33.
Shares of NYSE PPL traded up $0.02 during mid-day trading on Monday, hitting $31.88. 53,149 shares of the company traded hands, compared to its average volume of 4,242,887. PPL Corp has a 1 year low of $25.30 and a 1 year high of $32.88. The company has a market cap of $23.05 billion, a price-to-earnings ratio of 13.29, a P/E/G ratio of 2.62 and a beta of 0.54. The company has a quick ratio of 0.47, a current ratio of 0.53 and a debt-to-equity ratio of 1.72.
PPL (NYSE:PPL) last announced its earnings results on Thursday, February 14th. The utilities provider reported $0.52 EPS for the quarter, beating the consensus estimate of $0.49 by $0.03. PPL had a return on equity of 14.91% and a net margin of 23.47%. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the prior year, the business posted $0.55 earnings per share. PPL’s revenue was up .7% compared to the same quarter last year. As a group, sell-side analysts expect that PPL Corp will post 2.44 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 8th were issued a dividend of $0.4125 per share. This represents a $1.65 annualized dividend and a dividend yield of 5.18%. This is an increase from PPL’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Thursday, March 7th. PPL’s dividend payout ratio is currently 68.75%.
In other news, insider Gregory N. Dudkin sold 9,430 shares of the company’s stock in a transaction on Wednesday, January 23rd. The stock was sold at an average price of $29.91, for a total transaction of $282,051.30. Following the completion of the sale, the insider now directly owns 37,503 shares of the company’s stock, valued at $1,121,714.73. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Paul W. Thompson sold 5,637 shares of the stock in a transaction dated Wednesday, January 23rd. The stock was sold at an average price of $29.91, for a total value of $168,602.67. Following the completion of the sale, the chairman now directly owns 15,897 shares of the company’s stock, valued at $475,479.27. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 247,851 shares of company stock valued at $8,007,083. 0.38% of the stock is currently owned by company insiders.
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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.
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