PPL Co. (NYSE:PPL) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC decreased its position in shares of PPL Co. (NYSE:PPL) by 12.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 376,337 shares of the utilities provider’s stock after selling 52,295 shares during the quarter. Wedge Capital Management L L P NC’s holdings in PPL were worth $12,216,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Fortitude Family Office LLC lifted its holdings in PPL by 195.5% in the third quarter. Fortitude Family Office LLC now owns 780 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 516 shares during the period. Ashton Thomas Securities LLC acquired a new stake in PPL in the third quarter worth about $34,000. Rosenberg Matthew Hamilton lifted its holdings in PPL by 1,092.2% in the fourth quarter. Rosenberg Matthew Hamilton now owns 1,216 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 1,114 shares during the period. Covestor Ltd lifted its holdings in PPL by 139.2% in the third quarter. Covestor Ltd now owns 1,512 shares of the utilities provider’s stock worth $50,000 after purchasing an additional 880 shares during the period. Finally, McClarren Financial Advisors Inc. lifted its holdings in PPL by 5,759.3% in the third quarter. McClarren Financial Advisors Inc. now owns 1,582 shares of the utilities provider’s stock worth $52,000 after purchasing an additional 1,555 shares during the period. Institutional investors and hedge funds own 76.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on PPL shares. Bank of America upped their price objective on shares of PPL from $34.00 to $35.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Citigroup boosted their price target on shares of PPL from $31.00 to $36.00 and gave the stock a “neutral” rating in a research report on Thursday, December 12th. Barclays upgraded shares of PPL from a “hold” rating to a “strong-buy” rating in a research report on Thursday, December 12th. Jefferies Financial Group dropped their price target on shares of PPL from $39.00 to $38.00 and set a “buy” rating on the stock in a research report on Tuesday, December 17th. Finally, JPMorgan Chase & Co. initiated coverage on shares of PPL in a research report on Friday, October 25th. They issued an “overweight” rating and a $37.00 price target on the stock. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $34.09.

Insider Buying and Selling at PPL

In related news, insider John R. Crockett III sold 9,161 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $34.35, for a total value of $314,680.35. Following the completion of the sale, the insider now owns 12,434 shares of the company’s stock, valued at approximately $427,107.90. The trade was a 42.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Tadd J. Henninger sold 6,639 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $32.16, for a total value of $213,510.24. Following the completion of the sale, the senior vice president now directly owns 11,210 shares of the company’s stock, valued at approximately $360,513.60. The trade was a 37.20 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.22% of the company’s stock.

PPL Price Performance

NYSE PPL opened at $33.27 on Friday. The company has a current ratio of 1.29, a quick ratio of 1.07 and a debt-to-equity ratio of 1.17. PPL Co. has a 1 year low of $25.35 and a 1 year high of $35.15. The stock’s 50-day moving average price is $33.08 and its two-hundred day moving average price is $31.84. The company has a market cap of $24.55 billion, a PE ratio of 29.71, a PEG ratio of 2.56 and a beta of 0.83.

PPL (NYSE:PPL) last released its earnings results on Friday, November 1st. The utilities provider reported $0.42 earnings per share for the quarter, meeting the consensus estimate of $0.42. PPL had a return on equity of 9.20% and a net margin of 9.95%. The company had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $2.10 billion. During the same quarter in the previous year, the business posted $0.43 EPS. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. On average, analysts predict that PPL Co. will post 1.72 EPS for the current year.

PPL Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Tuesday, December 10th were paid a dividend of $0.2575 per share. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $1.03 annualized dividend and a yield of 3.10%. PPL’s dividend payout ratio (DPR) is presently 91.97%.

PPL Company Profile

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.