Slocum Gordon & Co LLP Cuts Holdings in PPL Co. (NYSE:PPL)

Slocum Gordon & Co LLP trimmed its position in shares of PPL Co. (NYSE:PPL) by 1.9% in the fourth quarter, Holdings Channel reports. The fund owned 170,387 shares of the utilities provider’s stock after selling 3,363 shares during the quarter. PPL comprises approximately 4.5% of Slocum Gordon & Co LLP’s investment portfolio, making the stock its 8th biggest holding. Slocum Gordon & Co LLP’s holdings in PPL were worth $5,531,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC lifted its holdings in shares of PPL by 85.7% during the third quarter. Sanctuary Advisors LLC now owns 111,288 shares of the utilities provider’s stock worth $3,834,000 after buying an additional 51,366 shares during the last quarter. Jennison Associates LLC increased its position in PPL by 2.3% during the third quarter. Jennison Associates LLC now owns 4,260,426 shares of the utilities provider’s stock worth $140,935,000 after acquiring an additional 96,491 shares during the period. Massachusetts Financial Services Co. MA raised its stake in PPL by 0.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,512,407 shares of the utilities provider’s stock valued at $215,430,000 after purchasing an additional 55,594 shares during the last quarter. DRW Securities LLC bought a new stake in PPL in the 3rd quarter valued at $1,218,000. Finally, Landscape Capital Management L.L.C. acquired a new stake in PPL in the 3rd quarter worth $916,000. Institutional investors own 76.99% of the company’s stock.

Insider Transactions at PPL

In other news, insider John R. Crockett III sold 9,161 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $34.35, for a total transaction of $314,680.35. Following the sale, the insider now owns 12,434 shares in the company, valued at approximately $427,107.90. This represents a 42.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO David J. Bonenberger sold 981 shares of PPL stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $33.48, for a total value of $32,843.88. Following the completion of the transaction, the chief operating officer now directly owns 45,414 shares of the company’s stock, valued at $1,520,460.72. This represents a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,794 shares of company stock valued at $661,338. Corporate insiders own 0.22% of the company’s stock.

PPL Stock Up 0.6 %

Shares of NYSE:PPL opened at $34.11 on Friday. The company’s fifty day moving average is $32.85 and its 200-day moving average is $32.36. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.07 and a current ratio of 1.29. PPL Co. has a 52 week low of $25.35 and a 52 week high of $35.15. The company has a market capitalization of $25.18 billion, a PE ratio of 30.46, a P/E/G ratio of 2.71 and a beta of 0.83.

PPL Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Tuesday, December 10th were paid a dividend of $0.2575 per share. The ex-dividend date was Tuesday, December 10th. This represents a $1.03 annualized dividend and a yield of 3.02%. PPL’s dividend payout ratio is 91.97%.

Wall Street Analyst Weigh In

PPL has been the subject of a number of research analyst reports. Jefferies Financial Group cut their price objective on shares of PPL from $39.00 to $38.00 and set a “buy” rating for the company in a research report on Tuesday, December 17th. Citigroup upped their price target on PPL from $31.00 to $36.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. JPMorgan Chase & Co. initiated coverage on PPL in a research report on Friday, October 25th. They set an “overweight” rating and a $37.00 price objective on the stock. Barclays cut their target price on PPL from $34.00 to $33.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 22nd. Finally, Bank of America boosted their price target on shares of PPL from $34.00 to $35.00 and gave the company a “buy” rating in a report on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $34.00.

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.