Cornerstone Capital Management Holdings LLC. increased its position in shares of PPL Corporation (NYSE:PPL) by 2.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 139,727 shares of the utilities provider’s stock after acquiring an additional 3,231 shares during the quarter. Cornerstone Capital Management Holdings LLC.’s holdings in PPL Corporation were worth $5,400,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in the company. Bank of Hawaii raised its holdings in shares of PPL Corporation by 0.5% during the second quarter. Bank of Hawaii now owns 95,908 shares of the utilities provider’s stock valued at $3,708,000 after acquiring an additional 511 shares during the period. Ropes Wealth Advisors LLC raised its holdings in shares of PPL Corporation by 6.2% during the second quarter. Ropes Wealth Advisors LLC now owns 10,251 shares of the utilities provider’s stock valued at $396,000 after acquiring an additional 601 shares during the period. Horizon Investments LLC raised its holdings in shares of PPL Corporation by 67.7% during the second quarter. Horizon Investments LLC now owns 33,441 shares of the utilities provider’s stock valued at $1,296,000 after acquiring an additional 13,497 shares during the period. Wealthfront Inc. raised its holdings in shares of PPL Corporation by 20.8% during the second quarter. Wealthfront Inc. now owns 13,429 shares of the utilities provider’s stock valued at $519,000 after acquiring an additional 2,311 shares during the period. Finally, California Public Employees Retirement System raised its holdings in shares of PPL Corporation by 0.5% during the second quarter. California Public Employees Retirement System now owns 1,684,519 shares of the utilities provider’s stock valued at $65,124,000 after acquiring an additional 8,900 shares during the period. Institutional investors and hedge funds own 71.01% of the company’s stock.
In other PPL Corporation news, insider Vincent Sorgi sold 5,600 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $39.00, for a total transaction of $218,400.00. Following the sale, the insider now directly owns 97 shares in the company, valued at approximately $3,783. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Joseph P. Bergstein, Jr. sold 2,929 shares of the firm’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $38.55, for a total transaction of $112,912.95. The disclosure for this sale can be found here. Insiders have sold a total of 47,163 shares of company stock worth $1,855,864 over the last 90 days. Corporate insiders own 0.40% of the company’s stock.
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PPL Corporation (NYSE PPL) opened at 37.96 on Thursday. PPL Corporation has a 1-year low of $32.37 and a 1-year high of $40.20. The firm has a market cap of $26.04 billion, a price-to-earnings ratio of 15.89 and a beta of 0.49. The firm has a 50-day moving average of $38.71 and a 200 day moving average of $38.56.
PPL Corporation (NYSE:PPL) last announced its earnings results on Thursday, August 3rd. The utilities provider reported $0.52 EPS for the quarter, topping the consensus estimate of $0.50 by $0.02. The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.79 billion. PPL Corporation had a net margin of 22.08% and a return on equity of 15.96%. The business’s quarterly revenue was down 3.4% on a year-over-year basis. During the same period last year, the company posted $0.56 EPS. Analysts expect that PPL Corporation will post $2.16 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 8th were issued a dividend of $0.395 per share. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $1.58 annualized dividend and a yield of 4.17%. PPL Corporation’s dividend payout ratio (DPR) is currently 66.11%.
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of PPL Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, August 23rd. SunTrust Banks, Inc. assumed coverage on shares of PPL Corporation in a report on Tuesday. They set a “buy” rating and a $43.00 price target on the stock. ValuEngine upgraded shares of PPL Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 1st. BidaskClub lowered shares of PPL Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, June 14th. Finally, Goldman Sachs Group, Inc. (The) upgraded shares of PPL Corporation from a “sell” rating to a “neutral” rating and boosted their price target for the company from $35.00 to $38.00 in a report on Monday, June 26th. Eight equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $39.35.
About PPL Corporation
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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