Kessler Investment Group LLC decreased its holdings in PPL Corp (NYSE:PPL) by 5.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,318 shares of the utilities provider’s stock after selling 1,787 shares during the quarter. PPL makes up 1.0% of Kessler Investment Group LLC’s investment portfolio, making the stock its 25th biggest holding. Kessler Investment Group LLC’s holdings in PPL were worth $802,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. FMR LLC boosted its position in PPL by 89.2% during the second quarter. FMR LLC now owns 47,276,571 shares of the utilities provider’s stock valued at $1,349,747,000 after acquiring an additional 22,285,268 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of PPL by 58.2% during the third quarter. Bank of New York Mellon Corp now owns 17,289,874 shares of the utilities provider’s stock valued at $505,902,000 after purchasing an additional 6,361,091 shares during the period. Millennium Management LLC raised its holdings in shares of PPL by 54.1% during the second quarter. Millennium Management LLC now owns 7,689,015 shares of the utilities provider’s stock valued at $219,521,000 after purchasing an additional 2,699,696 shares during the period. Janus Henderson Group PLC raised its holdings in shares of PPL by 106.1% during the third quarter. Janus Henderson Group PLC now owns 5,081,144 shares of the utilities provider’s stock valued at $148,655,000 after purchasing an additional 2,615,544 shares during the period. Finally, Morgan Stanley raised its holdings in shares of PPL by 96.7% during the third quarter. Morgan Stanley now owns 4,130,706 shares of the utilities provider’s stock valued at $120,864,000 after purchasing an additional 2,030,363 shares during the period. 75.97% of the stock is currently owned by institutional investors.
In other PPL news, SVP Joanne H. Raphael sold 22,410 shares of the company’s stock in a transaction dated Friday, December 7th. The shares were sold at an average price of $31.00, for a total value of $694,710.00. Following the completion of the sale, the senior vice president now directly owns 39,209 shares of the company’s stock, valued at approximately $1,215,479. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Paul W. Thompson sold 4,573 shares of the company’s stock in a transaction dated Friday, December 27th. The stock was sold at an average price of $28.25, for a total transaction of $129,187.25. Following the completion of the sale, the chairman now directly owns 7,419 shares of the company’s stock, valued at $209,586.75. The disclosure for this sale can be found here. Insiders sold a total of 31,556 shares of company stock worth $953,085 in the last 90 days. 0.38% of the stock is currently owned by company insiders.
Shares of PPL traded down $0.01 on Friday, reaching $29.56. The company’s stock had a trading volume of 93,676 shares, compared to its average volume of 6,141,791. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.58 and a quick ratio of 0.51. PPL Corp has a twelve month low of $25.30 and a twelve month high of $32.46. The firm has a market capitalization of $21.09 billion, a PE ratio of 13.15, a P/E/G ratio of 2.40 and a beta of 0.46.
PPL (NYSE:PPL) last posted its earnings results on Thursday, November 1st. The utilities provider reported $0.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.03. PPL had a net margin of 19.17% and a return on equity of 15.23%. The company had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same quarter in the prior year, the business posted $0.56 EPS. The firm’s revenue was up 1.5% compared to the same quarter last year. As a group, analysts expect that PPL Corp will post 2.35 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 2nd. Investors of record on Monday, December 10th were issued a $0.41 dividend. The ex-dividend date was Friday, December 7th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 5.55%. PPL’s dividend payout ratio is presently 72.89%.
PPL has been the topic of several research reports. Zacks Investment Research lowered shares of PPL from a “buy” rating to a “hold” rating in a report on Tuesday, October 9th. Desjardins reiterated an “average” rating and set a $52.00 price objective on shares of PPL in a report on Monday. ValuEngine upgraded shares of PPL from a “sell” rating to a “hold” rating in a report on Tuesday, November 13th. Finally, Wells Fargo & Co upped their target price on shares of PPL from $32.00 to $33.00 and gave the stock a “market perform” rating in a report on Monday, September 17th. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $35.33.
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 in three segments: U.K. Regulated, Kentucky Regulated, and Pennsylvania Regulated. It serves 411,000 electric and 326,000 natural gas customers in Louisville and adjacent areas in Kentucky; 525,000 customers in central, southeastern, and western Kentucky; and approximately 28,000 customers in 5 counties in southwestern Virginia, and 3 customers in Tennessee.
Read More: What is cost of equity?