PPL Corp (NYSE:PPL) was the target of a significant growth in short interest in January. As of January 31st, there was short interest totalling 20,275,842 shares, a growth of 25.7% from the January 12th total of 16,129,879 shares. Based on an average daily trading volume, of 6,218,909 shares, the days-to-cover ratio is presently 3.3 days. Approximately 3.0% of the shares of the stock are short sold.

In related news, insider Vincent Sorgi sold 10,274 shares of the company’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $31.54, for a total value of $324,041.96. Following the completion of the sale, the insider now owns 3,406 shares of the company’s stock, valued at $107,425.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gregory N. Dudkin sold 9,320 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were 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 directly owns 25,940 shares of the company’s stock, valued at approximately $821,519.80. The disclosure for this sale can be found here. Insiders have sold 44,163 shares of company stock valued at $1,395,587 in the last ninety days. Insiders own 0.40% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Parametric Portfolio Associates LLC lifted its position in shares of PPL by 1.9% during the third quarter. Parametric Portfolio Associates LLC now owns 1,784,213 shares of the utilities provider’s stock worth $67,711,000 after purchasing an additional 33,483 shares in the last quarter. California Public Employees Retirement System lifted its position in shares of PPL by 8.4% during the third quarter. California Public Employees Retirement System now owns 1,825,189 shares of the utilities provider’s stock worth $69,266,000 after purchasing an additional 140,670 shares in the last quarter. Cornerstone Capital Management Holdings LLC. lifted its position in shares of PPL by 34.2% during the third quarter. Cornerstone Capital Management Holdings LLC. now owns 187,554 shares of the utilities provider’s stock worth $7,117,000 after purchasing an additional 47,827 shares in the last quarter. KBC Group NV lifted its position in shares of PPL by 5.0% during the third quarter. KBC Group NV now owns 76,705 shares of the utilities provider’s stock worth $2,911,000 after purchasing an additional 3,633 shares in the last quarter. Finally, New York State Common Retirement Fund raised its holdings in PPL by 17.4% in the third quarter. New York State Common Retirement Fund now owns 1,741,770 shares of the utilities provider’s stock valued at $66,100,000 after acquiring an additional 258,600 shares in the last quarter. 70.50% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages recently issued reports on PPL. SunTrust Banks set a $37.00 price objective on shares of PPL and gave the company a “buy” rating in a report on Monday. Zacks Investment Research raised shares of PPL from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a report on Tuesday, December 12th. ValuEngine raised shares of PPL from a “hold” rating to a “buy” rating in a report on Thursday, January 11th. Guggenheim reissued a “hold” rating and issued a $32.00 price objective on shares of PPL in a report on Wednesday, January 3rd. Finally, KeyCorp reaffirmed a “hold” rating on shares of PPL in a research report on Friday, October 20th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $37.95.

PPL (NYSE PPL) traded down $0.43 during midday trading on Wednesday, reaching $30.27. 4,341,279 shares of the company’s stock were exchanged, compared to its average volume of 6,456,548. PPL has a 52 week low of $29.20 and a 52 week high of $40.20. The company has a debt-to-equity ratio of 1.79, a current ratio of 0.56 and a quick ratio of 0.48. The firm has a market capitalization of $20,980.00, a PE ratio of 13.70, a P/E/G ratio of 1.87 and a beta of 0.46.

TRADEMARK VIOLATION NOTICE: This article was first posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this article on another site, it was illegally copied and reposted in violation of United States and international copyright legislation. The legal version of this article can be read at https://www.thecerbatgem.com/2018/02/14/short-interest-in-ppl-corp-ppl-expands-by-25-7.html.

About PPL

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.

Receive News & Ratings for PPL Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PPL and related companies with MarketBeat.com's FREE daily email newsletter.