Wright Investors Service Inc. raised its holdings in shares of PPL Corp (NYSE:PPL) by 6.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 33,792 shares of the utilities provider’s stock after acquiring an additional 2,125 shares during the quarter. Wright Investors Service Inc.’s holdings in PPL were worth $1,048,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. First Trust Advisors LP increased its holdings in shares of PPL by 102.8% in the second quarter. First Trust Advisors LP now owns 4,170,550 shares of the utilities provider’s stock valued at $129,329,000 after buying an additional 2,114,378 shares in the last quarter. LSV Asset Management boosted its stake in PPL by 428.5% in the first quarter. LSV Asset Management now owns 1,674,000 shares of the utilities provider’s stock valued at $53,132,000 after acquiring an additional 1,357,246 shares during the last quarter. Geode Capital Management LLC boosted its stake in PPL by 12.2% in the fourth quarter. Geode Capital Management LLC now owns 10,366,038 shares of the utilities provider’s stock valued at $293,399,000 after acquiring an additional 1,129,588 shares during the last quarter. Janus Henderson Group PLC boosted its stake in PPL by 17.2% in the first quarter. Janus Henderson Group PLC now owns 5,518,786 shares of the utilities provider’s stock valued at $175,178,000 after acquiring an additional 808,535 shares during the last quarter. Finally, California Public Employees Retirement System boosted its stake in PPL by 20.4% in the first quarter. California Public Employees Retirement System now owns 4,330,832 shares of the utilities provider’s stock valued at $137,461,000 after acquiring an additional 734,286 shares during the last quarter. 72.84% of the stock is owned by institutional investors and hedge funds.
NYSE:PPL traded up $0.06 during trading hours on Thursday, hitting $29.24. The company had a trading volume of 190,374 shares, compared to its average volume of 4,224,297. The firm has a market cap of $21.17 billion, a P/E ratio of 12.16 and a beta of 0.51. The company’s 50-day simple moving average is $30.23. PPL Corp has a 52 week low of $27.31 and a 52 week high of $32.88. The company has a quick ratio of 0.48, a current ratio of 0.55 and a debt-to-equity ratio of 1.75.
Several equities research analysts have issued reports on the stock. ValuEngine lowered shares of PPL from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. UBS Group lowered their price objective on shares of PPL from $37.00 to $36.00 and set a “buy” rating for the company in a research report on Friday, May 17th. Raymond James reissued an “average” rating on shares of PPL in a report on Monday, May 6th. Zacks Investment Research raised shares of PPL from a “sell” rating to a “hold” rating and set a $32.00 target price on the stock in a report on Monday, July 22nd. Finally, GMP Securities reissued an “average” rating and set a $59.00 target price on shares of PPL in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $35.75.
In related news, insider Philip Swift sold 3,782 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $30.26, for a total transaction of $114,443.32. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.34% of the stock is owned by company insiders.
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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