Symons Capital Management Inc. cut its holdings in PPL Corp (NYSE:PPL) by 10.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 370,841 shares of the utilities provider’s stock after selling 41,069 shares during the period. PPL comprises 5.4% of Symons Capital Management Inc.’s holdings, making the stock its largest holding. Symons Capital Management Inc. owned approximately 0.05% of PPL worth $11,678,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the company. TRUE Private Wealth Advisors bought a new position in PPL during the 2nd quarter valued at about $25,000. Bartlett & Co. LLC grew its holdings in PPL by 100.0% during the 3rd quarter. Bartlett & Co. LLC now owns 800 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 400 shares during the last quarter. Kings Point Capital Management bought a new position in PPL during the 2nd quarter valued at about $28,000. Kavar Capital Partners LLC bought a new position in PPL during the 2nd quarter valued at about $35,000. Finally, Venturi Wealth Management LLC bought a new position in PPL during the 3rd quarter valued at about $35,000. Hedge funds and other institutional investors own 71.46% of the company’s stock.
In other news, CEO William H. Spence sold 388,000 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $33.57, for a total value of $13,025,160.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Joanne H. Raphael sold 21,288 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $31.91, for a total transaction of $679,300.08. Following the completion of the sale, the executive vice president now directly owns 46,857 shares of the company’s stock, valued at approximately $1,495,206.87. The disclosure for this sale can be found here. Insiders sold a total of 624,308 shares of company stock worth $20,800,120 over the last 90 days. Insiders own 0.34% of the company’s stock.
Several equities analysts recently commented on the stock. Morgan Stanley set a $30.00 price target on shares of PPL and gave the company a “hold” rating in a report on Friday, August 16th. Zacks Investment Research upgraded shares of PPL from a “sell” rating to a “hold” rating and set a $34.00 price target on the stock in a report on Tuesday, October 15th. Evercore ISI set a $31.00 price target on shares of PPL and gave the company a “hold” rating in a report on Wednesday, August 7th. ValuEngine downgraded shares of PPL from a “hold” rating to a “sell” rating in a research note on Friday, November 1st. Finally, Citigroup upped their target price on shares of PPL from $30.00 to $33.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $36.13.
PPL stock traded up $0.47 during mid-day trading on Friday, reaching $33.72. The company had a trading volume of 6,964,824 shares, compared to its average volume of 4,562,918. The company has a debt-to-equity ratio of 1.75, a current ratio of 0.55 and a quick ratio of 0.48. The company has a market capitalization of $24.25 billion, a PE ratio of 14.05 and a beta of 0.49. The firm has a 50 day moving average of $32.10 and a 200 day moving average of $30.82. PPL Corp has a 12 month low of $27.31 and a 12 month high of $33.83.
PPL (NYSE:PPL) last issued its earnings results on Tuesday, November 5th. The utilities provider reported $0.61 EPS for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.01). The company had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $2.04 billion. PPL had a return on equity of 14.72% and a net margin of 23.17%. PPL’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.59 earnings per share. Analysts anticipate that PPL Corp will post 2.43 EPS for the current year.
PPL Company Profile
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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