Brown Advisory Inc. Raises Position in PPL Corp. (PPL)
Brown Advisory Inc. boosted its position in shares of PPL Corp. (NYSE:PPL) by 35.2% during the second quarter, Holdings Channel reports. The institutional investor owned 12,040 shares of the company’s stock after buying an additional 3,133 shares during the period. Brown Advisory Inc.’s holdings in PPL Corp. were worth $455,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. State Street Corp raised its position in shares of PPL Corp. by 8.8% in the first quarter. State Street Corp now owns 33,738,639 shares of the company’s stock worth $1,284,426,000 after buying an additional 2,729,972 shares in the last quarter. Emerald Acquisition Ltd. purchased a new position in shares of PPL Corp. during the second quarter worth $67,226,000. Bank of Montreal Can purchased a new position in shares of PPL Corp. during the second quarter worth $49,323,000. Renaissance Technologies LLC raised its position in shares of PPL Corp. by 1,649.5% in the first quarter. Renaissance Technologies LLC now owns 1,347,100 shares of the company’s stock worth $51,284,000 after buying an additional 1,270,100 shares in the last quarter. Finally, Nordea Investment Management AB raised its position in shares of PPL Corp. by 14.0% in the second quarter. Nordea Investment Management AB now owns 9,434,152 shares of the company’s stock worth $356,139,000 after buying an additional 1,159,792 shares in the last quarter. 69.52% of the stock is currently owned by institutional investors and hedge funds.
PPL Corp. (NYSE:PPL) traded down 1.07% during trading on Monday, hitting $34.20. The stock had a trading volume of 1,320,064 shares. The firm has a market cap of $23.19 billion, a P/E ratio of 13.27 and a beta of 0.38. The stock’s 50 day moving average price is $35.01 and its 200 day moving average price is $37.05. PPL Corp. has a 12-month low of $32.18 and a 12-month high of $39.92.
PPL Corp. (NYSE:PPL) last posted its quarterly earnings results on Tuesday, August 9th. The company reported $0.56 EPS for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.03. The business earned $1.79 billion during the quarter, compared to the consensus estimate of $1.80 billion. PPL Corp. had a return on equity of 14.77% and a net margin of 23.56%. The company’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period last year, the firm earned $0.49 earnings per share. On average, analysts anticipate that PPL Corp. will post $2.35 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Friday, September 9th will be paid a $0.38 dividend. The ex-dividend date is Wednesday, September 7th. This represents a $1.52 dividend on an annualized basis and a yield of 4.40%. PPL Corp.’s dividend payout ratio (DPR) is 58.69%.
PPL has been the topic of several analyst reports. Barclays PLC lowered PPL Corp. from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $41.00 to $42.00 in a report on Monday, June 27th. Hilliard Lyons lowered PPL Corp. from a “buy” rating to a “neutral” rating in a report on Tuesday, June 28th. Jefferies Group lowered PPL Corp. from a “buy” rating to a “hold” rating and dropped their target price for the stock from $41.50 to $38.00 in a report on Thursday, July 14th. Zacks Investment Research raised PPL Corp. from a “sell” rating to a “hold” rating in a report on Thursday, July 14th. Finally, Vetr raised PPL Corp. from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a report on Thursday, July 14th. Ten investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. PPL Corp. presently has an average rating of “Hold” and an average target price of $37.86.
In other PPL Corp. news, insider Robert A. Symons sold 13,901 shares of the firm’s stock in a transaction dated Monday, July 11th. The shares were sold at an average price of $37.40, for a total value of $519,897.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Joseph P. Bergstein, Jr. sold 1,581 shares of the firm’s stock in a transaction dated Friday, July 8th. The stock was sold at an average price of $37.06, for a total transaction of $58,591.86. The disclosure for this sale can be found here. 0.42% of the stock is owned by corporate insiders.
About PPL Corp.
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. It operates through three segments: U.K.
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