PPL Co. (NYSE:PPL) Stake Lessened by Martingale Asset Management L P

Martingale Asset Management L P decreased its position in shares of PPL Co. (NYSE:PPL) by 44.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,749 shares of the utilities provider’s stock after selling 41,640 shares during the period. Martingale Asset Management L P’s holdings in PPL were worth $1,712,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC lifted its holdings in shares of PPL by 195.5% in the third quarter. Fortitude Family Office LLC now owns 780 shares of the utilities provider’s stock valued at $26,000 after buying an additional 516 shares during the period. Whittier Trust Co. of Nevada Inc. acquired a new stake in PPL in the 2nd quarter valued at about $29,000. Redwood Wealth Management Group LLC bought a new position in shares of PPL during the 2nd quarter valued at about $29,000. Ashton Thomas Securities LLC acquired a new position in shares of PPL in the 3rd quarter worth approximately $34,000. Finally, Lynx Investment Advisory bought a new stake in shares of PPL in the 2nd quarter worth approximately $38,000. 76.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PPL has been the topic of several recent research reports. Barclays lifted their price target on shares of PPL from $30.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Wells Fargo & Company boosted their target price on PPL from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. JPMorgan Chase & Co. began coverage on PPL in a research report on Friday, October 25th. They issued an “overweight” rating and a $37.00 price target for the company. Morgan Stanley lifted their price target on PPL from $31.00 to $33.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Finally, Bank of America upped their price objective on shares of PPL from $34.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $35.50.

Insider Activity

In other news, insider John R. Crockett III sold 9,161 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $34.35, for a total value of $314,680.35. Following the sale, the insider now owns 12,434 shares in the company, valued at approximately $427,107.90. The trade was a 42.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.22% of the stock is owned by company insiders.

PPL Trading Down 0.2 %

NYSE:PPL opened at $34.93 on Monday. The stock has a market cap of $25.78 billion, a PE ratio of 31.19, a price-to-earnings-growth ratio of 3.01 and a beta of 0.81. PPL Co. has a fifty-two week low of $25.35 and a fifty-two week high of $35.15. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.29 and a quick ratio of 1.07. The stock’s 50-day moving average is $33.00 and its two-hundred day moving average is $30.88.

PPL (NYSE:PPL) last posted its quarterly earnings results on Friday, November 1st. The utilities provider reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42. PPL had a net margin of 9.95% and a return on equity of 9.20%. The business had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $2.10 billion. During the same period in the previous year, the company posted $0.43 EPS. PPL’s revenue was up 1.1% on a year-over-year basis. As a group, equities research analysts forecast that PPL Co. will post 1.72 earnings per share for the current fiscal year.

PPL Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Tuesday, December 10th will be paid a dividend of $0.2575 per share. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $1.03 dividend on an annualized basis and a yield of 2.95%. PPL’s dividend payout ratio is currently 91.96%.

About PPL

PPL Corporation, an energy company, focuses on providing electricity and natural gas to approximately 3.6 million customers in the United States. It operates through three segments: Kentucky Regulated, Pennsylvania Regulated, and Rhode Island Regulated. The company delivers electricity to customers in Pennsylvania, Kentucky, Virginia, and Rhode Island; delivers natural gas to customers in Kentucky and Rhode Island; and generates electricity from power plants in Kentucky.