New York State Teachers Retirement System trimmed its holdings in PPL Co. (NYSE:PPL) by 1.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,004,880 shares of the utilities provider’s stock after selling 14,826 shares during the period. New York State Teachers Retirement System owned 0.14% of PPL worth $28,428,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of PPL. Caisse DE Depot ET Placement DU Quebec grew its position in PPL by 37.9% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 13,865,118 shares of the utilities provider’s stock worth $429,125,000 after acquiring an additional 3,808,000 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of PPL by 1,448.2% during the 4th quarter. Renaissance Technologies LLC now owns 3,088,700 shares of the utilities provider’s stock worth $95,595,000 after buying an additional 2,889,200 shares during the period. Boston Partners bought a new stake in shares of PPL during the 4th quarter worth $81,658,000. Bank of Montreal Can boosted its holdings in shares of PPL by 41.9% during the 4th quarter. Bank of Montreal Can now owns 2,654,343 shares of the utilities provider’s stock worth $82,152,000 after buying an additional 783,951 shares during the period. Finally, Virtus Fund Advisers LLC boosted its holdings in shares of PPL by 52.9% during the 4th quarter. Virtus Fund Advisers LLC now owns 2,175,000 shares of the utilities provider’s stock worth $68,006,000 after buying an additional 752,400 shares during the period. 71.56% of the stock is owned by institutional investors.
Several research firms recently issued reports on PPL. ValuEngine downgraded shares of PPL from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. Zacks Investment Research raised shares of PPL from a “sell” rating to a “hold” rating in a report on Wednesday, March 21st. Royal Bank of Canada raised shares of PPL from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $28.32 to $33.00 in a report on Tuesday, March 6th. SunTrust Banks set a $36.00 price objective on shares of PPL and gave the stock a “buy” rating in a report on Friday, February 23rd. Finally, UBS reaffirmed a “buy” rating and set a $36.00 price objective (down from $37.00) on shares of PPL in a report on Friday, February 23rd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $37.15.
In related news, SVP Joanne H. Raphael sold 2,205 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $29.19, for a total transaction of $64,363.95. Following the completion of the transaction, the senior vice president now directly owns 16,799 shares in the company, valued at approximately $490,362.81. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Victor A. Staffieri sold 4,232 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $29.20, for a total transaction of $123,574.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,815 shares of company stock valued at $257,352. Corporate insiders own 0.38% of the company’s stock.
NYSE:PPL opened at $28.58 on Tuesday. The firm has a market cap of $20.24 billion, a P/E ratio of 12.22, a P/E/G ratio of 2.10 and a beta of 0.51. PPL Co. has a one year low of $27.08 and a one year high of $40.20. The company has a quick ratio of 0.52, a current ratio of 0.59 and a debt-to-equity ratio of 1.81.
PPL (NYSE:PPL) last released its earnings results on Thursday, May 3rd. The utilities provider reported $0.74 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.08. The firm had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.09 billion. PPL had a net margin of 15.44% and a return on equity of 15.24%. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.62 EPS. analysts forecast that PPL Co. will post 2.3 earnings per share for the current fiscal year.
PPL Corporation, a utility holding company, delivers electricity and natural gas in the United States and the United Kingdom. The company operates in three segments: U.K. Regulated, Kentucky Regulated, and Pennsylvania Regulated. It serves 411,000 electric and 326,000 natural gas customers in Louisville and adjacent areas in Kentucky; 525,000 customers in central, southeastern, and western Kentucky; and approximately 28,000 customers in 5 counties in southwestern Virginia, and 3 customers in Tennessee.
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