First Citizens Bank & Trust Co. Sells 4,768 Shares of PPL Co. (NYSE:PPL)

First Citizens Bank & Trust Co. decreased its position in shares of PPL Co. (NYSE:PPL) by 9.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 46,253 shares of the utilities provider’s stock after selling 4,768 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in PPL were worth $1,259,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Moody National Bank Trust Division raised its stake in PPL by 0.4% during the third quarter. Moody National Bank Trust Division now owns 91,536 shares of the utilities provider’s stock worth $2,491,000 after acquiring an additional 381 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in PPL by 1.2% during the second quarter. Louisiana State Employees Retirement System now owns 33,100 shares of the utilities provider’s stock worth $855,000 after acquiring an additional 400 shares in the last quarter. Good Life Advisors LLC raised its stake in PPL by 2.9% during the second quarter. Good Life Advisors LLC now owns 15,059 shares of the utilities provider’s stock worth $392,000 after acquiring an additional 422 shares in the last quarter. TrinityPoint Wealth LLC raised its stake in PPL by 1.7% during the second quarter. TrinityPoint Wealth LLC now owns 27,082 shares of the utilities provider’s stock worth $700,000 after acquiring an additional 464 shares in the last quarter. Finally, Grove Bank & Trust raised its stake in PPL by 2.0% during the second quarter. Grove Bank & Trust now owns 23,920 shares of the utilities provider’s stock worth $618,000 after acquiring an additional 470 shares in the last quarter. 66.64% of the stock is owned by hedge funds and other institutional investors.

PPL opened at $28.59 on Friday. PPL Co. has a 1-year low of $18.12 and a 1-year high of $36.83. The company has a current ratio of 0.63, a quick ratio of 0.57 and a debt-to-equity ratio of 1.62. The company has a market cap of $21.98 billion, a P/E ratio of 12.43 and a beta of 0.74. The company has a fifty day moving average price of $27.73 and a two-hundred day moving average price of $26.62.

PPL (NYSE:PPL) last posted its quarterly earnings results on Monday, August 10th. The utilities provider reported $0.55 earnings per share for the quarter, meeting the consensus estimate of $0.55. The firm had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.89 billion. PPL had a net margin of 24.52% and a return on equity of 14.20%. The business’s revenue was down 3.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.58 earnings per share. On average, research analysts forecast that PPL Co. will post 2.41 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Thursday, September 10th were given a dividend of $0.415 per share. This represents a $1.66 annualized dividend and a dividend yield of 5.81%. The ex-dividend date was Wednesday, September 9th. PPL’s payout ratio is presently 67.76%.

Several research analysts have commented on PPL shares. TheStreet raised PPL from a “c+” rating to a “b-” rating in a research note on Monday, October 12th. Seaport Global Securities raised PPL from a “sell” rating to a “neutral” rating in a research note on Tuesday, August 11th. Morgan Stanley upped their price objective on PPL from $30.00 to $31.00 and gave the company an “equal weight” rating in a research note on Monday, October 5th. Citigroup upped their price objective on PPL from $25.00 to $30.00 and gave the company a “neutral” rating in a research note on Tuesday, August 11th. Finally, Mizuho downgraded PPL from a “buy” rating to a “neutral” rating and upped their price objective for the company from $28.50 to $29.50 in a research note on Wednesday, August 19th. One analyst has rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $35.87.

About PPL

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 418,000 electric and 329,000 natural gas customers in Louisville and adjacent areas in Kentucky; 530,000 electric customers in central, southeastern, and western Kentucky; and 28,000 electric customers in 5 counties in southwestern Virginia.

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Institutional Ownership by Quarter for PPL (NYSE:PPL)

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