Farmers Trust Co. Purchases New Holdings in PPL Corp (NYSE:PPL)

Farmers Trust Co. acquired a new stake in shares of PPL Corp (NYSE:PPL) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 25,603 shares of the utilities provider’s stock, valued at approximately $792,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PPL. Pinebridge Investments L.P. bought a new position in PPL during the 2nd quarter valued at $224,000. D.A. Davidson & CO. raised its holdings in shares of PPL by 4.2% during the second quarter. D.A. Davidson & CO. now owns 8,554 shares of the utilities provider’s stock worth $330,000 after purchasing an additional 344 shares during the period. Cornerstone Capital Management Holdings LLC. raised its holdings in shares of PPL by 2.4% during the second quarter. Cornerstone Capital Management Holdings LLC. now owns 139,727 shares of the utilities provider’s stock worth $5,400,000 after purchasing an additional 3,231 shares during the period. Laurel Wealth Advisors Inc. raised its holdings in shares of PPL by 2.5% during the second quarter. Laurel Wealth Advisors Inc. now owns 22,820 shares of the utilities provider’s stock worth $882,000 after purchasing an additional 556 shares during the period. Finally, Wilbanks Smith & Thomas Asset Management LLC raised its holdings in shares of PPL by 2.1% during the second quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 10,085 shares of the utilities provider’s stock worth $390,000 after purchasing an additional 205 shares during the period. Hedge funds and other institutional investors own 70.50% of the company’s stock.

In other news, insider Vincent Sorgi sold 10,274 shares of the firm’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $31.54, for a total value of $324,041.96. Following the sale, the insider now owns 3,406 shares in the company, valued at $107,425.24. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Gregory N. Dudkin sold 9,320 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $31.67, for a total transaction of $295,164.40. Following the completion of the sale, the insider now owns 25,940 shares in the company, valued at approximately $821,519.80. The disclosure for this sale can be found here. In the last three months, insiders sold 44,163 shares of company stock worth $1,395,587. Insiders own 0.40% of the company’s stock.

PPL Corp (PPL) opened at $30.46 on Tuesday. The firm has a market cap of $20,970.00, a P/E ratio of 13.78, a P/E/G ratio of 1.85 and a beta of 0.46. The company has a current ratio of 0.56, a quick ratio of 0.48 and a debt-to-equity ratio of 1.79. PPL Corp has a 52-week low of $29.20 and a 52-week high of $40.20.

A number of analysts have weighed in on PPL shares. SunTrust Banks reissued a “buy” rating and set a $42.00 target price on shares of PPL in a report on Tuesday, December 26th. Zacks Investment Research raised shares of PPL from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a report on Tuesday, December 12th. Canaccord Genuity reaffirmed a “buy” rating and issued a $48.00 price objective on shares of PPL in a report on Thursday, November 30th. Deutsche Bank raised shares of PPL from a “hold” rating to a “buy” rating and lowered their target price for the company from $39.00 to $36.00 in a research note on Thursday, January 18th. Finally, ValuEngine raised shares of PPL from a “hold” rating to a “buy” rating in a research note on Thursday, January 11th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $37.95.

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PPL Company Profile

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.

Institutional Ownership by Quarter for PPL (NYSE:PPL)

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