PPL Corp (PPL) Holdings Reduced by Clark Capital Management Group Inc.

Clark Capital Management Group Inc. lowered its holdings in PPL Corp (NYSE:PPL) by 0.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 620,650 shares of the utilities provider’s stock after selling 4,816 shares during the quarter. Clark Capital Management Group Inc.’s holdings in PPL were worth $19,699,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in shares of PPL by 5.9% during the 4th quarter. BlackRock Inc. now owns 62,237,939 shares of the utilities provider’s stock worth $1,763,201,000 after buying an additional 3,475,992 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of PPL by 12.2% during the 4th quarter. Geode Capital Management LLC now owns 10,366,038 shares of the utilities provider’s stock worth $293,399,000 after buying an additional 1,129,588 shares during the last quarter. Northern Trust Corp raised its stake in shares of PPL by 6.1% during the 4th quarter. Northern Trust Corp now owns 8,243,058 shares of the utilities provider’s stock worth $233,526,000 after buying an additional 476,088 shares during the last quarter. Legal & General Group Plc raised its stake in shares of PPL by 8.7% during the 4th quarter. Legal & General Group Plc now owns 7,521,971 shares of the utilities provider’s stock worth $213,098,000 after buying an additional 602,214 shares during the last quarter. Finally, Janus Henderson Group PLC raised its stake in shares of PPL by 17.2% during the 1st quarter. Janus Henderson Group PLC now owns 5,518,786 shares of the utilities provider’s stock worth $175,178,000 after buying an additional 808,535 shares during the last quarter. 74.95% of the stock is owned by institutional investors and hedge funds.

Shares of PPL stock opened at $29.69 on Tuesday. PPL Corp has a twelve month low of $25.30 and a twelve month high of $32.88. The stock has a market capitalization of $21.42 billion, a P/E ratio of 12.37, a PEG ratio of 2.46 and a beta of 0.52. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.60 and a quick ratio of 0.53.

PPL (NYSE:PPL) last announced its earnings results on Thursday, May 2nd. The utilities provider reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.03). PPL had a net margin of 23.79% and a return on equity of 14.52%. The firm had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.19 billion. During the same period in the previous year, the firm posted $0.74 EPS. The company’s revenue for the quarter was down 2.2% compared to the same quarter last year. On average, analysts expect that PPL Corp will post 2.42 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 10th will be paid a $0.4125 dividend. This represents a $1.65 annualized dividend and a yield of 5.56%. The ex-dividend date of this dividend is Friday, June 7th. PPL’s payout ratio is 68.75%.

Several research analysts have recently issued reports on the company. Zacks Investment Research downgraded PPL from a “hold” rating to a “sell” rating in a research note on Thursday, March 14th. Royal Bank of Canada downgraded PPL from an “outperform” rating to a “sector perform” rating and lifted their price target for the stock from $32.00 to $33.00 in a research note on Friday, March 8th. They noted that the move was a valuation call. Raymond James reaffirmed an “average” rating on shares of PPL in a research note on Monday, May 6th. SunTrust Banks reaffirmed a “buy” rating and set a $35.00 price target on shares of PPL in a research note on Wednesday, February 13th. Finally, Evercore ISI downgraded PPL from an “outperform” rating to an “in-line” rating in a research note on Thursday, February 7th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $34.56.

In related news, Chairman William H. Spence sold 225,365 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $32.50, for a total value of $7,324,362.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.34% of the company’s stock.

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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.

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Institutional Ownership by Quarter for PPL (NYSE:PPL)

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