Gilman Hill Asset Management LLC reduced its stake in PPL Corp (NYSE:PPL) by 3.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 88,248 shares of the utilities provider’s stock after selling 3,131 shares during the period. Gilman Hill Asset Management LLC’s holdings in PPL were worth $3,166,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently modified their holdings of the company. Bartlett & Co. LLC lifted its stake in PPL by 100.0% during the third 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 acquired a new stake in shares of PPL during the second quarter valued at approximately $28,000. Venturi Wealth Management LLC acquired a new stake in shares of PPL during the third quarter valued at approximately $35,000. Stonebridge Capital Advisors LLC acquired a new stake in shares of PPL during the second quarter valued at approximately $38,000. Finally, Private Capital Group LLC raised its holdings in shares of PPL by 35.2% during the second quarter. Private Capital Group LLC now owns 1,502 shares of the utilities provider’s stock valued at $43,000 after acquiring an additional 391 shares during the period. 70.66% of the stock is owned by institutional investors.
PPL stock traded down $0.20 during trading hours on Friday, hitting $35.76. The company had a trading volume of 594,229 shares, compared to its average volume of 4,408,838. The firm has a market capitalization of $25.73 billion, a P/E ratio of 14.90 and a beta of 0.51. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.66 and a quick ratio of 0.58. The firm’s fifty day moving average is $35.18 and its 200-day moving average is $32.18. PPL Corp has a fifty-two week low of $28.55 and a fifty-two week high of $36.28.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Tuesday, December 10th were paid a $0.4125 dividend. The ex-dividend date of this dividend was Monday, December 9th. This represents a $1.65 annualized dividend and a yield of 4.61%. PPL’s dividend payout ratio is presently 68.75%.
A number of equities research analysts have recently issued reports on the stock. Macquarie upgraded shares of PPL from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $27.00 to $32.50 in a report on Wednesday, October 23rd. UBS Group boosted their price target on shares of PPL from $49.00 to $51.00 and gave the company a “neutral” rating in a report on Friday, January 10th. ValuEngine lowered shares of PPL from a “hold” rating to a “sell” rating in a report on Thursday, December 19th. Argus restated a “buy” rating and set a $39.00 price target (up previously from $34.00) on shares of PPL in a report on Friday, January 10th. Finally, Wells Fargo & Co assumed coverage on shares of PPL in a report on Thursday, December 19th. They set an “equal weight” rating and a $50.00 price target on the stock. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $39.05.
In other PPL news, CEO William H. Spence sold 388,000 shares of the business’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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Vincent Sorgi sold 13,696 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $34.04, for a total transaction of $466,211.84. Following the completion of the sale, the chief operating officer now directly owns 30,976 shares of the company’s stock, valued at $1,054,423.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,005,684 shares of company stock worth $33,936,414. Company insiders own 0.34% of the company’s stock.
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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