Virtu Financial LLC trimmed its stake in shares of PPL Corp (NYSE:PPL) by 34.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,785 shares of the utilities provider’s stock after selling 11,207 shares during the period. Virtu Financial LLC’s holdings in PPL were worth $637,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the stock. Wetherby Asset Management Inc. raised its holdings in shares of PPL by 20.0% during the third quarter. Wetherby Asset Management Inc. now owns 9,862 shares of the utilities provider’s stock worth $289,000 after acquiring an additional 1,643 shares during the period. Candriam Luxembourg S.C.A. raised its holdings in shares of PPL by 2.7% during the third quarter. Candriam Luxembourg S.C.A. now owns 70,778 shares of the utilities provider’s stock worth $2,071,000 after acquiring an additional 1,877 shares during the period. Accurate Investment Solutions Inc. raised its holdings in shares of PPL by 1.6% during the third quarter. Accurate Investment Solutions Inc. now owns 119,013 shares of the utilities provider’s stock worth $3,482,000 after acquiring an additional 1,926 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in shares of PPL by 2.8% during the second quarter. Oregon Public Employees Retirement Fund now owns 75,864 shares of the utilities provider’s stock worth $2,166,000 after acquiring an additional 2,060 shares during the period. Finally, Valeo Financial Advisors LLC raised its holdings in shares of PPL by 37.8% during the second quarter. Valeo Financial Advisors LLC now owns 7,551 shares of the utilities provider’s stock worth $219,000 after acquiring an additional 2,070 shares during the period. Institutional investors and hedge funds own 76.13% of the company’s stock.
PPL has been the topic of several recent research reports. ValuEngine upgraded shares of PPL from a “sell” rating to a “hold” rating in a research note on Wednesday, November 21st. Wells Fargo & Co lifted their price target on shares of PPL from $32.00 to $33.00 and gave the company a “market perform” rating in a research note on Monday, September 17th. Citigroup initiated coverage on shares of PPL in a research note on Thursday, August 23rd. They issued a “neutral” rating and a $30.00 price target on the stock. Zacks Investment Research upgraded shares of PPL from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a research note on Wednesday, September 12th. Finally, Morgan Stanley lifted their price target on shares of PPL from $29.00 to $30.00 and gave the company a “hold” rating in a research note on Tuesday, September 11th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $32.80.
Shares of PPL stock opened at $31.09 on Friday. The company has a current ratio of 0.58, a quick ratio of 0.51 and a debt-to-equity ratio of 1.69. PPL Corp has a 1 year low of $25.30 and a 1 year high of $34.94. The firm has a market capitalization of $22.07 billion, a price-to-earnings ratio of 13.82, a price-to-earnings-growth ratio of 2.62 and a beta of 0.41.
PPL (NYSE:PPL) last issued its quarterly earnings results on Thursday, November 1st. The utilities provider reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.03. PPL had a net margin of 19.17% and a return on equity of 15.23%. The firm had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same period in the previous year, the business earned $0.56 EPS. The company’s revenue was up 1.5% compared to the same quarter last year. Research analysts expect that PPL Corp will post 2.34 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Monday, December 10th will be given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 5.28%. The ex-dividend date is Friday, December 7th. PPL’s dividend payout ratio (DPR) is presently 72.89%.
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 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.
Featured Article: How to Use the New Google Finance Tool
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.