Huntington National Bank reduced its stake in shares of PPL Corporation (NYSE:PPL) by 10.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,501 shares of the utilities provider’s stock after selling 5,647 shares during the quarter. Huntington National Bank’s holdings in PPL Corporation were worth $1,764,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the stock. Parallel Advisors LLC increased its stake in shares of PPL Corporation by 7.6% during the second quarter. Parallel Advisors LLC now owns 4,570 shares of the utilities provider’s stock worth $175,000 after acquiring an additional 321 shares during the period. IHT Wealth Management LLC increased its stake in shares of PPL Corporation by 5.5% during the first quarter. IHT Wealth Management LLC now owns 5,243 shares of the utilities provider’s stock worth $197,000 after acquiring an additional 274 shares during the period. Level Four Advisory Services LLC acquired a new position in shares of PPL Corporation during the first quarter worth about $204,000. Tufton Capital Management acquired a new position in shares of PPL Corporation during the second quarter worth about $208,000. Finally, Green Square Capital LLC purchased a new stake in PPL Corporation during the first quarter worth about $211,000. Hedge funds and other institutional investors own 71.64% of the company’s stock.
A number of analysts recently commented on the stock. BidaskClub downgraded shares of PPL Corporation from a “sell” rating to a “strong sell” rating in a report on Monday, July 31st. Jefferies Group LLC reissued a “buy” rating and set a $43.50 price objective (up previously from $42.00) on shares of PPL Corporation in a report on Wednesday, August 9th. SunTrust Banks, Inc. initiated coverage on shares of PPL Corporation in a report on Tuesday, October 10th. They issued a “buy” rating and a $43.00 price target on the stock. Zacks Investment Research downgraded shares of PPL Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, August 23rd. Finally, ValuEngine raised shares of PPL Corporation from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $39.50.
In other news, SVP Joanne H. Raphael sold 35,651 shares of the company’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $39.50, for a total value of $1,408,214.50. Following the completion of the transaction, the senior vice president now directly owns 52,450 shares in the company, valued at $2,071,775. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.40% of the stock is currently owned by corporate insiders.
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PPL Corporation (NYSE PPL) traded up $0.34 during trading on Tuesday, hitting $36.63. 4,020,100 shares of the stock traded hands, compared to its average volume of 3,194,044. PPL Corporation has a 52 week low of $32.60 and a 52 week high of $40.20. The firm has a market capitalization of $24,984.37, a price-to-earnings ratio of 15.78, a P/E/G ratio of 2.79 and a beta of 0.49. The company has a quick ratio of 0.48, a current ratio of 0.56 and a debt-to-equity ratio of 1.79.
PPL Corporation (NYSE:PPL) last announced its earnings results on Wednesday, November 1st. The utilities provider reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.03. The business had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $2.03 billion. PPL Corporation had a net margin of 20.60% and a return on equity of 15.30%. The business’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.63 earnings per share. sell-side analysts forecast that PPL Corporation will post 2.17 earnings per share for the current fiscal year.
PPL Corporation 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. PPL operates through U.K.
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