Boston Partners Acquires 9,404,382 Shares of PPL Co. (NYSE:PPL)

Boston Partners lifted its position in PPL Co. (NYSE:PPL) by 8,266.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,518,141 shares of the utilities provider’s stock after buying an additional 9,404,382 shares during the period. Boston Partners’ holdings in PPL were worth $309,060,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in PPL. Kentucky Trust Co acquired a new position in PPL in the 4th quarter worth $32,000. Rosenberg Matthew Hamilton lifted its stake in PPL by 1,092.2% in the 4th quarter. Rosenberg Matthew Hamilton now owns 1,216 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 1,114 shares during the last quarter. Larson Financial Group LLC raised its holdings in PPL by 84.5% in the 4th quarter. Larson Financial Group LLC now owns 1,264 shares of the utilities provider’s stock valued at $41,000 after acquiring an additional 579 shares during the period. Newton One Investments LLC bought a new position in shares of PPL during the fourth quarter worth approximately $49,000. Finally, EverSource Wealth Advisors LLC increased its stake in PPL by 69.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,072 shares of the utilities provider’s stock valued at $67,000 after acquiring an additional 846 shares during the last quarter. Institutional investors own 76.99% of the company’s stock.

PPL Stock Performance

PPL opened at $35.19 on Tuesday. The company has a current ratio of 0.86, a quick ratio of 0.71 and a debt-to-equity ratio of 1.13. PPL Co. has a 12-month low of $25.93 and a 12-month high of $35.91. The company has a market cap of $25.98 billion, a price-to-earnings ratio of 29.08, a PEG ratio of 2.77 and a beta of 0.76. The company’s 50 day moving average is $33.76 and its 200 day moving average is $33.12.

PPL (NYSE:PPL) last released its quarterly earnings results on Thursday, February 13th. The utilities provider reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.03). PPL had a net margin of 10.49% and a return on equity of 8.88%. The business had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.09 billion. On average, equities research analysts predict that PPL Co. will post 1.83 EPS for the current year.

PPL Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th will be issued a $0.2725 dividend. This is a boost from PPL’s previous quarterly dividend of $0.26. This represents a $1.09 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date is Monday, March 10th. PPL’s dividend payout ratio (DPR) is currently 90.08%.

Analyst Ratings Changes

A number of equities analysts have recently commented on PPL shares. Jefferies Financial Group cut their price target on shares of PPL from $39.00 to $38.00 and set a “buy” rating on the stock in a report on Tuesday, December 17th. Citigroup raised shares of PPL from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 10th. BMO Capital Markets began coverage on shares of PPL in a report on Wednesday, December 11th. They set an “outperform” rating and a $36.00 price target on the stock. Finally, Barclays boosted their target price on shares of PPL from $33.00 to $36.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 25th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, PPL currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.70.

Insider Activity at PPL

In related news, COO David J. Bonenberger sold 981 shares of PPL stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $33.48, for a total value of $32,843.88. Following the sale, the chief operating officer now owns 45,414 shares of the company’s stock, valued at approximately $1,520,460.72. This trade represents a 2.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John R. Crockett III sold 1,589 shares of PPL stock in a transaction on Monday, January 27th. The stock was sold at an average price of $33.12, for a total value of $52,627.68. Following the transaction, the insider now owns 10,845 shares in the company, valued at approximately $359,186.40. This represents a 12.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,140 shares of company stock valued at $173,005 in the last three months. 0.22% of the stock is owned by insiders.

About PPL

PPL Corporation, an energy company, focuses on providing electricity and natural gas to approximately 3.6 million customers in the United States. It operates through three segments: Kentucky Regulated, Pennsylvania Regulated, and Rhode Island Regulated. The company delivers electricity to customers in Pennsylvania, Kentucky, Virginia, and Rhode Island; delivers natural gas to customers in Kentucky and Rhode Island; and generates electricity from power plants in Kentucky.