First Midwest Bank Trust Division boosted its position in shares of PPL Corp. (NYSE:PPL) by 18.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 146,393 shares of the company’s stock after buying an additional 22,528 shares during the period. PPL Corp. makes up about 0.7% of First Midwest Bank Trust Division’s holdings, making the stock its 29th largest position. First Midwest Bank Trust Division’s holdings in PPL Corp. were worth $5,527,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in PPL. State Street Corp boosted its position in shares of PPL Corp. by 8.8% in the first quarter. State Street Corp now owns 33,738,639 shares of the company’s stock worth $1,284,426,000 after buying an additional 2,729,972 shares during the last quarter. Bank of Montreal Can purchased a new position in shares of PPL Corp. during the second quarter worth approximately $49,323,000. Renaissance Technologies LLC boosted its position in shares of PPL Corp. by 1,649.5% in the first quarter. Renaissance Technologies LLC now owns 1,347,100 shares of the company’s stock worth $51,284,000 after buying an additional 1,270,100 shares during the last quarter. Nordea Investment Management AB boosted its position in shares of PPL Corp. by 14.0% in the second quarter. Nordea Investment Management AB now owns 9,434,152 shares of the company’s stock worth $356,139,000 after buying an additional 1,159,792 shares during the last quarter. Finally, NN Investment Partners Holdings N.V. purchased a new position in shares of PPL Corp. during the first quarter worth approximately $28,247,000. Institutional investors own 69.52% of the company’s stock.
Shares of PPL Corp. (NYSE:PPL) traded down 1.45% during mid-day trading on Tuesday, hitting $35.24. The stock had a trading volume of 4,739,105 shares. The firm has a market capitalization of $23.90 billion, a price-to-earnings ratio of 13.67 and a beta of 0.35. PPL Corp. has a 1-year low of $31.91 and a 1-year high of $39.92. The stock’s 50-day moving average is $35.17 and its 200 day moving average is $37.10.
PPL Corp. (NYSE:PPL) last announced its earnings results on Tuesday, August 9th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.03. PPL Corp. had a net margin of 23.56% and a return on equity of 14.77%. The company earned $1.79 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same period in the previous year, the business earned $0.49 earnings per share. The firm’s quarterly revenue was up .2% compared to the same quarter last year. Equities research analysts predict that PPL Corp. will post $2.35 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Friday, September 9th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 4.31%. The ex-dividend date of this dividend is Wednesday, September 7th. PPL Corp.’s dividend payout ratio is presently 58.69%.
PPL has been the subject of several analyst reports. Barclays PLC lowered PPL Corp. from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $41.00 to $42.00 in a research report on Monday, June 27th. Vetr raised PPL Corp. from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research report on Thursday, July 14th. Hilliard Lyons lowered PPL Corp. from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 28th. Argus lowered their target price on PPL Corp. from $45.00 to $41.00 and set a “buy” rating for the company in a research report on Friday, September 9th. Finally, Jefferies Group lowered PPL Corp. from a “buy” rating to a “hold” rating and lowered their target price for the stock from $41.50 to $38.00 in a research report on Thursday, July 14th. Ten equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. PPL Corp. currently has an average rating of “Hold” and an average price target of $37.86.
In other PPL Corp. news, VP Joseph P. Bergstein, Jr. sold 1,581 shares of the business’s stock in a transaction on Friday, July 8th. The shares were sold at an average price of $37.06, for a total value of $58,591.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Robert A. Symons sold 13,901 shares of the business’s stock in a transaction on Monday, July 11th. The stock was sold at an average price of $37.40, for a total transaction of $519,897.40. The disclosure for this sale can be found here. 0.42% of the stock is currently owned by company insiders.
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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