Mutual of Omaha Bank Wealth Management cut its stake in PPL Corp (NYSE:PPL) by 14.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,685 shares of the utilities provider’s stock after selling 1,520 shares during the period. Mutual of Omaha Bank Wealth Management’s holdings in PPL were worth $246,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of PPL. FMR LLC increased its holdings in PPL by 89.2% in the second quarter. FMR LLC now owns 47,276,571 shares of the utilities provider’s stock valued at $1,349,747,000 after buying an additional 22,285,268 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in PPL by 2.0% in the second quarter. Advisors Asset Management Inc. now owns 489,778 shares of the utilities provider’s stock valued at $13,983,000 after buying an additional 9,641 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of PPL by 69.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 10,928,783 shares of the utilities provider’s stock worth $312,017,000 after purchasing an additional 4,489,564 shares in the last quarter. DNB Asset Management AS increased its stake in shares of PPL by 2.8% during the 3rd quarter. DNB Asset Management AS now owns 107,220 shares of the utilities provider’s stock worth $3,137,000 after purchasing an additional 2,890 shares in the last quarter. Finally, Iberiabank Corp purchased a new position in shares of PPL during the 3rd quarter worth approximately $236,000. 75.88% of the stock is owned by institutional investors.
In related news, SVP Joanne H. Raphael sold 22,410 shares of the firm’s stock in a transaction that occurred on Friday, December 7th. The shares were sold at an average price of $31.00, for a total transaction of $694,710.00. Following the sale, the senior vice president now owns 39,209 shares in the company, valued at $1,215,479. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Paul W. Thompson sold 4,573 shares of the firm’s stock in a transaction that occurred on Thursday, December 27th. The stock was sold at an average price of $28.25, for a total transaction of $129,187.25. Following the sale, the chairman now owns 7,419 shares in the company, valued at approximately $209,586.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,623 shares of company stock valued at $1,403,738. Corporate insiders own 0.38% of the company’s stock.
A number of research analysts have recently weighed in on the stock. Zacks Investment Research cut shares of PPL from a “hold” rating to a “sell” rating in a research note on Thursday, January 3rd. Bank of America cut shares of PPL from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $29.00 to $28.00 in a research note on Monday, January 14th. Evercore ISI cut shares of PPL from an “outperform” rating to an “in-line” rating in a research note on Thursday. ValuEngine raised shares of PPL from a “sell” rating to a “hold” rating in a research note on Wednesday, November 21st. Finally, Desjardins reissued an “average” rating and set a $52.00 price objective on shares of PPL in a research note on Monday, January 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. PPL presently has a consensus rating of “Hold” and a consensus target price of $34.44.
Shares of PPL opened at $31.29 on Friday. 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 1-year low of $25.30 and a 1-year high of $32.46. The company has a market cap of $22.54 billion, a PE ratio of 13.91, a price-to-earnings-growth ratio of 2.56 and a beta of 0.55.
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.
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