PPL Co. (NYSE:PPL) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lowered its position in PPL Co. (NYSE:PPLGet Rating) by 53.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 834,901 shares of the utilities provider’s stock after selling 962,861 shares during the period. Victory Capital Management Inc. owned approximately 0.11% of PPL worth $23,666,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Arkfeld Wealth Strategies L.L.C. grew its holdings in shares of PPL by 3.7% in the 1st quarter. Arkfeld Wealth Strategies L.L.C. now owns 83,413 shares of the utilities provider’s stock worth $2,405,000 after acquiring an additional 2,956 shares during the period. Bfsg LLC lifted its stake in PPL by 11.8% in the 1st quarter. Bfsg LLC now owns 19,057 shares of the utilities provider’s stock valued at $544,000 after buying an additional 2,006 shares in the last quarter. Gladstone Institutional Advisory LLC lifted its stake in PPL by 7.4% in the 1st quarter. Gladstone Institutional Advisory LLC now owns 18,817 shares of the utilities provider’s stock valued at $537,000 after buying an additional 1,299 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in PPL by 2.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 1,298,077 shares of the utilities provider’s stock valued at $37,073,000 after buying an additional 32,662 shares in the last quarter. Finally, Versor Investments LP lifted its stake in PPL by 215.6% in the 1st quarter. Versor Investments LP now owns 28,405 shares of the utilities provider’s stock valued at $811,000 after buying an additional 19,405 shares in the last quarter. Institutional investors and hedge funds own 65.63% of the company’s stock.

PPL Trading Down 0.4 %

Shares of PPL opened at $28.99 on Thursday. The company has a current ratio of 1.88, a quick ratio of 1.79 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $21.33 billion, a P/E ratio of 34.11 and a beta of 0.75. The stock’s fifty day simple moving average is $27.89 and its 200 day simple moving average is $28.20. PPL Co. has a twelve month low of $24.98 and a twelve month high of $30.72.

PPL (NYSE:PPLGet Rating) last issued its earnings results on Thursday, May 5th. The utilities provider reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.01. PPL had a return on equity of 6.25% and a net margin of 10.43%. The business had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period last year, the company posted $0.28 EPS. The business’s quarterly revenue was up 19.0% on a year-over-year basis. On average, equities research analysts forecast that PPL Co. will post 1.38 earnings per share for the current year.

PPL Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 1st. Investors of record on Tuesday, June 21st were issued a $0.225 dividend. This is an increase from PPL’s previous quarterly dividend of $0.20. This represents a $0.90 annualized dividend and a yield of 3.10%. The ex-dividend date was Friday, June 17th. PPL’s dividend payout ratio is currently 105.88%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on PPL shares. StockNews.com raised PPL from a “hold” rating to a “buy” rating in a research note on Wednesday, July 13th. Morgan Stanley increased their price target on PPL from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 21st. The Goldman Sachs Group assumed coverage on PPL in a research note on Monday, May 30th. They set a “buy” rating on the stock. Evercore ISI raised PPL from an “in-line” rating to an “outperform” rating and reduced their price target for the stock from $31.00 to $30.00 in a research note on Thursday, July 7th. Finally, Mizuho reduced their price target on PPL from $30.00 to $29.00 and set a “neutral” rating on the stock in a research note on Thursday, July 14th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.56.

Insider Activity at PPL

In related news, insider Stephanie R. Raymond sold 3,374 shares of the stock in a transaction on Wednesday, June 8th. The stock was sold at an average price of $30.45, for a total value of $102,738.30. Following the completion of the sale, the insider now directly owns 23,182 shares in the company, valued at approximately $705,891.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Vincent Sorgi sold 27,553 shares of the firm’s stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $29.00, for a total transaction of $799,037.00. Following the completion of the sale, the chief executive officer now directly owns 111,462 shares in the company, valued at $3,232,398. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Stephanie R. Raymond sold 3,374 shares of the firm’s stock in a transaction dated Wednesday, June 8th. The shares were sold at an average price of $30.45, for a total value of $102,738.30. Following the sale, the insider now owns 23,182 shares of the company’s stock, valued at $705,891.90. The disclosure for this sale can be found here. In the last three months, insiders sold 31,404 shares of company stock worth $914,702. Corporate insiders own 0.17% of the company’s stock.

PPL Profile

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PPL Corporation, a utility holding company, delivers electricity and natural gas in the United States and the United Kingdom. The company operates through two segments: Kentucky Regulated and Pennsylvania Regulated. It serves approximately 429,000 electric and 333,000 natural gas customers in Louisville and adjacent areas in Kentucky; 538,000 electric customers in central, southeastern, and western Kentucky; and 28,000 electric customers in five counties in southwestern Virginia.

Further Reading

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Institutional Ownership by Quarter for PPL (NYSE:PPL)

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