PPL Corp. (PPL) Shares Sold by Gofen & Glossberg LLC IL
Gofen & Glossberg LLC IL decreased its stake in PPL Corp. (NYSE:PPL) by 0.8% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 205,099 shares of the company’s stock after selling 1,699 shares during the period. Gofen & Glossberg LLC IL’s holdings in PPL Corp. were worth $7,090,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of PPL. BlackRock Fund Advisors boosted its position in PPL Corp. by 15.0% in the second quarter. BlackRock Fund Advisors now owns 16,491,273 shares of the company’s stock valued at $622,546,000 after buying an additional 2,148,009 shares in the last quarter. Emerald Acquisition Ltd. acquired a new position in PPL Corp. during the second quarter valued at $67,226,000. Vanguard Group Inc. boosted its position in PPL Corp. by 3.4% in the second quarter. Vanguard Group Inc. now owns 45,884,630 shares of the company’s stock valued at $1,732,144,000 after buying an additional 1,503,013 shares in the last quarter. Janus Capital Management LLC boosted its position in PPL Corp. by 69.9% in the second quarter. Janus Capital Management LLC now owns 3,628,802 shares of the company’s stock valued at $136,987,000 after buying an additional 1,492,593 shares in the last quarter. Finally, Bank of Montreal Can acquired a new position in PPL Corp. during the second quarter valued at $49,323,000. 68.25% of the stock is owned by institutional investors and hedge funds.
PPL Corp. (NYSE:PPL) traded up 1.52% during midday trading on Monday, reaching $33.34. The company had a trading volume of 4,023,942 shares. PPL Corp. has a one year low of $32.08 and a one year high of $39.92. The stock’s 50 day moving average is $33.34 and its 200 day moving average is $36.01. The company has a market capitalization of $22.66 billion, a PE ratio of 12.38 and a beta of 0.41.
PPL Corp. (NYSE:PPL) last posted its quarterly earnings results on Tuesday, November 1st. The company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. PPL Corp. had a return on equity of 15.66% and a net margin of 24.59%. The business earned $1.89 billion during the quarter, compared to analysts’ expectations of $2.04 billion. During the same quarter last year, the company posted $0.51 earnings per share. PPL Corp.’s quarterly revenue was up .6% on a year-over-year basis. Equities research analysts forecast that PPL Corp. will post $2.36 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Investors of record on Friday, December 9th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 4.56%. The ex-dividend date of this dividend is Wednesday, December 7th. PPL Corp.’s payout ratio is currently 56.30%.
Several research firms have commented on PPL. Credit Suisse Group AG reaffirmed a “hold” rating and issued a $44.00 price target on shares of PPL Corp. in a report on Friday, August 5th. Jefferies Group cut their price target on PPL Corp. from $38.00 to $37.00 and set a “hold” rating for the company in a report on Wednesday, August 10th. Guggenheim cut PPL Corp. from a “buy” rating to a “neutral” rating in a report on Tuesday, August 9th. Argus cut their price target on PPL Corp. from $45.00 to $41.00 and set a “buy” rating for the company in a report on Friday, September 9th. Finally, Wolfe Research raised PPL Corp. from a “market perform” rating to an “outperform” rating in a report on Wednesday, September 14th. Nine research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $38.35.
PPL Corp. 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. It operates through three segments: U.K.
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