Clearbridge Investments LLC reduced its holdings in PPL Co. (NYSE:PPL) by 18.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 486,299 shares of the utilities provider’s stock after selling 109,995 shares during the quarter. Clearbridge Investments LLC owned about 0.07% of PPL worth $15,051,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of PPL. Cutler Capital Management LLC acquired a new stake in PPL during the third quarter worth about $114,000. Taylor Hoffman Wealth Management acquired a new stake in PPL during the fourth quarter valued at approximately $124,000. Cerebellum GP LLC acquired a new stake in PPL during the fourth quarter valued at approximately $128,000. Crewe Advisors LLC acquired a new stake in PPL during the fourth quarter valued at approximately $133,000. Finally, Calton & Associates Inc. acquired a new stake in PPL during the fourth quarter valued at approximately $156,000. 71.46% of the stock is currently owned by institutional investors.
Shares of NYSE PPL traded down $0.07 during midday trading on Friday, hitting $27.93. 5,651,862 shares of the company’s stock were exchanged, compared to its average volume of 7,158,332. The firm has a market capitalization of $19,433.39, a PE ratio of 12.41, a price-to-earnings-growth ratio of 2.02 and a beta of 0.52. PPL Co. has a twelve month low of $27.08 and a twelve month high of $40.20. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.49 and a current ratio of 0.57.
PPL (NYSE:PPL) last announced its earnings results on Thursday, February 22nd. The utilities provider reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.07. PPL had a return on equity of 14.75% and a net margin of 15.15%. The company had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period last year, the business posted $0.60 EPS. The company’s revenue was up 5.1% on a year-over-year basis. sell-side analysts forecast that PPL Co. will post 2.32 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, April 2nd. Investors of record on Friday, March 9th were paid a $0.41 dividend. The ex-dividend date of this dividend was Thursday, March 8th. This is an increase from PPL’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a dividend yield of 5.87%. PPL’s payout ratio is 72.89%.
A number of research analysts have recently issued reports on the stock. ValuEngine upgraded shares of PPL from a “hold” rating to a “buy” rating in a research note on Thursday, January 11th. SunTrust Banks set a $37.00 price objective on shares of PPL and gave the stock a “buy” rating in a research note on Monday, February 12th. UBS reaffirmed a “buy” rating and issued a $36.00 target price (down from $37.00) on shares of PPL in a research note on Friday, February 23rd. Zacks Investment Research upgraded PPL from a “sell” rating to a “hold” rating in a report on Wednesday, March 21st. Finally, TheStreet cut PPL from a “b-” rating to a “c+” rating in a report on Thursday, January 18th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $37.50.
In other PPL news, Chairman Victor A. Staffieri sold 19,524 shares of the business’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $31.60, for a total transaction of $616,958.40. Following the sale, the chairman now directly owns 29,084 shares in the company, valued at $919,054.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Vincent Sorgi sold 10,274 shares of the business’s stock in a transaction on Tuesday, January 30th. The stock was 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,978 shares of company stock worth $1,652,939. Company insiders own 0.40% of the company’s stock.
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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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