Winslow Evans & Crocker Inc. trimmed its holdings in shares of PPL Corp (NYSE:PPL) by 17.5% in the second quarter, HoldingsChannel reports. The institutional investor owned 1,752 shares of the utilities provider’s stock after selling 372 shares during the quarter. Winslow Evans & Crocker Inc.’s holdings in PPL were worth $56,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of PPL. LSV Asset Management boosted its holdings in PPL by 428.5% during the first quarter. LSV Asset Management now owns 1,674,000 shares of the utilities provider’s stock worth $53,132,000 after buying an additional 1,357,246 shares in the last quarter. Geode Capital Management LLC boosted its stake in PPL by 12.2% in the 4th quarter. Geode Capital Management LLC now owns 10,366,038 shares of the utilities provider’s stock worth $293,399,000 after purchasing an additional 1,129,588 shares during the period. Janus Henderson Group PLC boosted its stake in PPL by 17.2% in the 1st quarter. Janus Henderson Group PLC now owns 5,518,786 shares of the utilities provider’s stock worth $175,178,000 after purchasing an additional 808,535 shares during the period. California Public Employees Retirement System boosted its stake in PPL by 20.4% in the 1st quarter. California Public Employees Retirement System now owns 4,330,832 shares of the utilities provider’s stock worth $137,461,000 after purchasing an additional 734,286 shares during the period. Finally, Federated Investors Inc. PA boosted its stake in PPL by 5.3% in the 1st quarter. Federated Investors Inc. PA now owns 12,830,507 shares of the utilities provider’s stock worth $407,240,000 after purchasing an additional 647,901 shares during the period. Hedge funds and other institutional investors own 72.87% of the company’s stock.
A number of equities analysts recently commented on PPL shares. ValuEngine lowered shares of PPL from a “hold” rating to a “sell” rating in a research note on Thursday. Zacks Investment Research raised shares of PPL from a “sell” rating to a “hold” rating and set a $32.00 price objective for the company in a research note on Monday, July 22nd. Mizuho started coverage on shares of PPL in a research note on Monday, June 3rd. They issued a “neutral” rating and a $30.00 price objective for the company. Raymond James reaffirmed an “average” rating on shares of PPL in a research note on Monday, May 6th. Finally, UBS Group decreased their price objective on shares of PPL from $37.00 to $36.00 and set a “buy” rating for the company in a research note on Friday, May 17th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $33.90.
Shares of NYSE:PPL traded up $0.21 during trading on Friday, reaching $29.94. 1,363,586 shares of the company traded hands, compared to its average volume of 3,505,214. The company has a fifty day simple moving average of $30.72. The firm has a market cap of $21.45 billion, a price-to-earnings ratio of 12.47 and a beta of 0.54. PPL Corp has a 1-year low of $27.31 and a 1-year high of $32.88. The company has a current ratio of 0.60, a quick ratio of 0.53 and a debt-to-equity ratio of 1.73.
PPL (NYSE:PPL) last issued its earnings results on Thursday, May 2nd. The utilities provider reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.03). The company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.19 billion. PPL had a net margin of 23.79% and a return on equity of 14.52%. The company’s quarterly revenue was down 2.2% on a year-over-year basis. During the same period last year, the business earned $0.74 EPS. As a group, research analysts anticipate that PPL Corp will post 2.42 EPS for the current fiscal year.
PPL Company Profile
PPL Corporation, a utility holding company, delivers electricity and natural gas in the United States and the United Kingdom. The company operates through three segments: U.K. Regulated, Kentucky Regulated, and Pennsylvania Regulated. It serves approximately 414,000 electric and 328,000 natural gas customers in Louisville and adjacent areas in Kentucky; 527,000 electric customers in central, southeastern, and western Kentucky; and 28,000 electric customers in 5 counties in southwestern Virginia.
Further Reading: How are the companies in the S&P 500 selected?
Want to see what other hedge funds are holding PPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PPL Corp (NYSE:PPL).
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.