Bbva Compass Bancshares Inc. cut its position in PPL Corporation (NYSE:PPL) by 1.2% during the second quarter, Holdings Channel reports. The fund owned 5,514 shares of the utilities provider’s stock after selling 69 shares during the period. Bbva Compass Bancshares Inc.’s holdings in PPL Corporation were worth $213,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Gulf International Bank UK Ltd boosted its position in shares of PPL Corporation by 1.3% in the first quarter. Gulf International Bank UK Ltd now owns 211,038 shares of the utilities provider’s stock worth $7,890,000 after buying an additional 2,750 shares during the last quarter. Country Club Trust Company n.a. boosted its position in shares of PPL Corporation by 3.5% in the first quarter. Country Club Trust Company n.a. now owns 206,263 shares of the utilities provider’s stock worth $7,712,000 after buying an additional 7,009 shares during the last quarter. National Pension Service boosted its position in shares of PPL Corporation by 6.2% in the first quarter. National Pension Service now owns 544,521 shares of the utilities provider’s stock worth $20,278,000 after buying an additional 31,962 shares during the last quarter. Bank of Montreal Can boosted its position in shares of PPL Corporation by 22.5% in the first quarter. Bank of Montreal Can now owns 2,112,466 shares of the utilities provider’s stock worth $78,986,000 after buying an additional 388,443 shares during the last quarter. Finally, Gradient Investments LLC boosted its position in shares of PPL Corporation by 13.2% in the first quarter. Gradient Investments LLC now owns 167,654 shares of the utilities provider’s stock worth $6,269,000 after buying an additional 19,557 shares during the last quarter. 71.05% of the stock is owned by institutional investors and hedge funds.

PPL Corporation (NYSE PPL) opened at 38.60 on Thursday. The stock has a market capitalization of $26.37 billion, a PE ratio of 14.46 and a beta of 0.49. PPL Corporation has a 1-year low of $32.08 and a 1-year high of $40.20. The company’s 50 day moving average is $38.39 and its 200-day moving average is $37.70.

PPL Corporation (NYSE:PPL) last announced its earnings results on Thursday, August 3rd. The utilities provider reported $0.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.02. The company had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.79 billion. PPL Corporation had a net margin of 22.08% and a return on equity of 15.96%. PPL Corporation’s revenue was down 3.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.56 earnings per share. Analysts forecast that PPL Corporation will post $2.16 earnings per share for the current fiscal year.

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A number of equities analysts have commented on PPL shares. Barclays PLC reissued an “equal weight” rating and issued a $41.00 price objective (up from $38.00) on shares of PPL Corporation in a research note on Sunday, April 23rd. Jefferies Group LLC lifted their price objective on shares of PPL Corporation from $36.50 to $39.00 and gave the stock a “hold” rating in a research note on Monday, April 24th. BidaskClub cut shares of PPL Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, June 14th. Goldman Sachs Group, Inc. (The) raised shares of PPL Corporation from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $35.00 to $38.00 in a research note on Monday, June 26th. Finally, Zacks Investment Research raised shares of PPL Corporation from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a research note on Wednesday, July 12th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. PPL Corporation currently has a consensus rating of “Hold” and an average price target of $38.72.

In other news, VP Joseph P. Bergstein, Jr. sold 2,929 shares of the stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $38.55, for a total transaction of $112,912.95. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Vincent Sorgi sold 5,600 shares of the stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $39.00, for a total transaction of $218,400.00. Following the sale, the insider now directly owns 97 shares in the company, valued at approximately $3,783. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,740 shares of company stock valued at $773,067. 0.42% of the stock is currently owned by insiders.

About PPL Corporation

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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Institutional Ownership by Quarter for PPL Corporation (NYSE:PPL)

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