Van Hulzen Asset Management LLC Grows Position in PPL Co. (NYSE:PPL)

Van Hulzen Asset Management LLC boosted its stake in PPL Co. (NYSE:PPLGet Rating) by 26.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,644 shares of the utilities provider’s stock after purchasing an additional 2,000 shares during the quarter. Van Hulzen Asset Management LLC’s holdings in PPL were worth $275,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Mitsubishi UFJ Trust & Banking Corp grew its stake in PPL by 1,256.0% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 6,695,419 shares of the utilities provider’s stock worth $191,221,000 after buying an additional 6,201,657 shares during the period. State Street Corp grew its stake in PPL by 4.8% during the first quarter. State Street Corp now owns 42,759,744 shares of the utilities provider’s stock worth $1,229,596,000 after buying an additional 1,971,238 shares during the period. Los Angeles Capital Management LLC grew its stake in PPL by 14,170.0% during the first quarter. Los Angeles Capital Management LLC now owns 1,329,966 shares of the utilities provider’s stock worth $37,984,000 after buying an additional 1,320,646 shares during the period. BlackRock Inc. grew its stake in PPL by 1.9% during the fourth quarter. BlackRock Inc. now owns 64,561,072 shares of the utilities provider’s stock worth $1,940,706,000 after buying an additional 1,194,864 shares during the period. Finally, Renaissance Technologies LLC grew its stake in PPL by 94.6% during the fourth quarter. Renaissance Technologies LLC now owns 2,180,900 shares of the utilities provider’s stock worth $65,558,000 after buying an additional 1,060,200 shares during the period. 69.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at PPL

In related news, CEO Vincent Sorgi sold 27,553 shares of the stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $29.00, for a total value of $799,037.00. Following the completion of the transaction, the chief executive officer now owns 111,462 shares in the company, valued at approximately $3,232,398. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Vincent Sorgi sold 27,553 shares of the stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $29.00, for a total value of $799,037.00. Following the completion of the transaction, the chief executive officer now owns 111,462 shares in the company, valued at approximately $3,232,398. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Joseph P. Bergstein, Jr. sold 20,645 shares of the firm’s stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $30.41, for a total transaction of $627,814.45. Following the transaction, the chief financial officer now owns 31,469 shares of the company’s stock, valued at approximately $956,972.29. The disclosure for this sale can be found here. Insiders sold 76,275 shares of company stock worth $2,267,778 in the last 90 days. Corporate insiders own 0.17% of the company’s stock.

PPL Stock Performance

Shares of PPL opened at $28.88 on Friday. The firm has a 50-day moving average price of $28.91 and a 200 day moving average price of $28.40. The firm has a market capitalization of $21.26 billion, a PE ratio of 29.47 and a beta of 0.74. The company has a quick ratio of 0.53, a current ratio of 0.62 and a debt-to-equity ratio of 0.88. PPL Co. has a 52-week low of $24.98 and a 52-week high of $30.99.

PPL Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Friday, September 9th will be given a $0.225 dividend. The ex-dividend date is Thursday, September 8th. This represents a $0.90 dividend on an annualized basis and a yield of 3.12%. PPL’s dividend payout ratio is presently 91.84%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PPL shares. Wells Fargo & Company upped their target price on shares of PPL from $33.00 to $34.00 in a research note on Tuesday, June 7th. Evercore ISI upped their price target on shares of PPL to $32.00 in a report on Tuesday, August 9th. Mizuho cut their price target on shares of PPL from $30.00 to $29.00 and set a “neutral” rating on the stock in a report on Thursday, July 14th. StockNews.com cut shares of PPL from a “buy” rating to a “hold” rating in a report on Thursday, August 4th. Finally, Bank of America raised shares of PPL from a “neutral” rating to a “buy” rating and upped their price target for the company from $29.00 to $33.00 in a report on Monday, August 15th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $30.75.

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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