Raymond James & Associates grew its holdings in PPL Corp (NYSE:PPL) by 10.8% during the 4th quarter, Holdings Channel reports. The firm owned 3,408,769 shares of the utilities provider’s stock after acquiring an additional 332,205 shares during the quarter. Raymond James & Associates’ holdings in PPL were worth $105,501,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of the company. Caisse DE Depot ET Placement DU Quebec grew its position in shares of PPL by 37.9% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 13,865,118 shares of the utilities provider’s stock valued at $429,125,000 after purchasing an additional 3,808,000 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of PPL by 4.8% in the fourth quarter. Wells Fargo & Company MN now owns 8,546,957 shares of the utilities provider’s stock valued at $264,528,000 after purchasing an additional 389,800 shares during the last quarter. Geode Capital Management LLC grew its position in shares of PPL by 4.5% in the fourth quarter. Geode Capital Management LLC now owns 8,349,801 shares of the utilities provider’s stock valued at $257,959,000 after purchasing an additional 360,229 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of PPL by 7.9% in the fourth quarter. Bank of New York Mellon Corp now owns 6,739,037 shares of the utilities provider’s stock valued at $208,573,000 after purchasing an additional 492,590 shares during the last quarter. Finally, Prudential Financial Inc. grew its position in shares of PPL by 16.5% in the third quarter. Prudential Financial Inc. now owns 5,030,604 shares of the utilities provider’s stock valued at $190,912,000 after purchasing an additional 714,250 shares during the last quarter. 71.50% of the stock is currently owned by institutional investors.
Shares of PPL Corp (PPL) opened at $27.85 on Monday. PPL Corp has a 1 year low of $27.12 and a 1 year high of $40.20. The firm has a market capitalization of $19,110.00, a PE ratio of 13.05, a P/E/G ratio of 1.98 and a beta of 0.54. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.49 and a current ratio of 0.57.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Friday, March 9th will be given a dividend of $0.41 per share. The ex-dividend date is Thursday, March 8th. This is an increase from PPL’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a yield of 5.89%. PPL’s dividend payout ratio (DPR) is 77.73%.
Several equities research analysts have recently issued reports on PPL shares. Canaccord Genuity reaffirmed a “buy” rating and issued a $48.00 price target on shares of PPL in a research report on Thursday, November 30th. Zacks Investment Research raised PPL from a “hold” rating to a “buy” rating and set a $39.00 price target on the stock in a research report on Tuesday, December 12th. Macquarie downgraded PPL from a “neutral” rating to an “underperform” rating and set a $30.00 price target on the stock. in a research report on Tuesday, December 19th. SunTrust Banks reaffirmed a “buy” rating and issued a $42.00 price target on shares of PPL in a research report on Tuesday, December 26th. Finally, Guggenheim reissued a “hold” rating and set a $32.00 target price on shares of PPL in a research report on Wednesday, January 3rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $37.50.
In other PPL news, Chairman Victor A. Staffieri sold 4,232 shares of PPL stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $29.20, for a total transaction of $123,574.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Joanne H. Raphael sold 5,045 shares of PPL stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $31.60, for a total value of $159,422.00. Following the sale, the senior vice president now directly owns 24,080 shares in the company, valued at $760,928. The disclosure for this sale can be found here. Over the last three months, insiders have sold 52,978 shares of company stock worth $1,652,939. 0.40% of the stock is owned by company insiders.
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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.
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