Crossmark Global Holdings Inc. Sells 6,706 Shares of PPL Corp (PPL)

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Crossmark Global Holdings Inc. cut its holdings in PPL Corp (NYSE:PPL) by 13.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 42,237 shares of the utilities provider’s stock after selling 6,706 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in PPL were worth $1,197,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. FMR LLC increased its stake in shares of PPL by 3.1% during the third quarter. FMR LLC now owns 48,751,387 shares of the utilities provider’s stock valued at $1,426,465,000 after buying an additional 1,474,816 shares during the period. Bank of New York Mellon Corp increased its stake in shares of PPL by 58.2% during the third quarter. Bank of New York Mellon Corp now owns 17,289,874 shares of the utilities provider’s stock valued at $505,902,000 after buying an additional 6,361,091 shares during the period. Federated Investors Inc. PA increased its stake in shares of PPL by 1.1% during the third quarter. Federated Investors Inc. PA now owns 14,829,100 shares of the utilities provider’s stock valued at $433,899,000 after buying an additional 156,763 shares during the period. Legal & General Group Plc increased its stake in shares of PPL by 5.3% during the third quarter. Legal & General Group Plc now owns 6,919,757 shares of the utilities provider’s stock valued at $202,394,000 after buying an additional 348,807 shares during the period. Finally, Janus Henderson Group PLC increased its stake in shares of PPL by 106.1% during the third quarter. Janus Henderson Group PLC now owns 5,081,144 shares of the utilities provider’s stock valued at $148,655,000 after buying an additional 2,615,544 shares during the period. 75.88% of the stock is owned by hedge funds and other institutional investors.

In other news, Chairman Paul W. Thompson sold 4,573 shares of the business’s stock in a transaction dated Thursday, December 27th. The stock was sold at an average price of $28.25, for a total transaction of $129,187.25. Following the sale, the chairman now owns 7,419 shares in the company, valued at $209,586.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Joanne H. Raphael sold 22,410 shares of the business’s stock in a transaction dated Friday, December 7th. The stock was sold at an average price of $31.00, for a total value of $694,710.00. Following the sale, the senior vice president now owns 39,209 shares in the company, valued at approximately $1,215,479. The disclosure for this sale can be found here. Insiders sold 46,623 shares of company stock worth $1,403,738 in the last quarter. 0.38% of the stock is owned by insiders.

Several equities analysts have issued reports on the company. Evercore ISI lowered PPL from an “outperform” rating to an “in-line” rating in a research note on Thursday. Bank of America lowered PPL from a “neutral” rating to an “underperform” rating and cut their target price for the company from $29.00 to $28.00 in a research note on Monday, January 14th. Zacks Investment Research upgraded PPL from a “sell” rating to a “hold” rating in a research note on Friday, January 11th. Desjardins reiterated an “average” rating and issued a $52.00 target price on shares of PPL in a research note on Monday, January 7th. Finally, ValuEngine upgraded PPL from a “sell” rating to a “hold” rating in a research note on Wednesday, November 21st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $34.44.

PPL opened at $31.29 on Monday. PPL Corp has a 1 year low of $25.30 and a 1 year high of $32.46. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.51 and a current ratio of 0.58. The stock has a market capitalization of $22.54 billion, a price-to-earnings ratio of 13.91, a P/E/G ratio of 2.56 and a beta of 0.55.

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PPL Profile

PPL Corporation, a utility holding company, delivers electricity and natural gas in the United States and the United Kingdom. The company operates in three segments: U.K. Regulated, Kentucky Regulated, and Pennsylvania Regulated. It serves 411,000 electric and 326,000 natural gas customers in Louisville and adjacent areas in Kentucky; 525,000 customers in central, southeastern, and western Kentucky; and approximately 28,000 customers in 5 counties in southwestern Virginia, and 3 customers in Tennessee.

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Institutional Ownership by Quarter for PPL (NYSE:PPL)

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