PPL Co. (NYSE:PPL) Shares Bought by Korea Investment CORP

Korea Investment CORP raised its holdings in shares of PPL Co. (NYSE:PPL) by 0.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 561,888 shares of the utilities provider’s stock after buying an additional 3,903 shares during the period. Korea Investment CORP’s holdings in PPL were worth $18,239,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cerity Partners LLC increased its position in PPL by 43.1% during the 3rd quarter. Cerity Partners LLC now owns 36,788 shares of the utilities provider’s stock valued at $1,217,000 after buying an additional 11,089 shares in the last quarter. D.A. Davidson & CO. boosted its holdings in PPL by 5.0% in the third quarter. D.A. Davidson & CO. now owns 21,931 shares of the utilities provider’s stock worth $725,000 after acquiring an additional 1,052 shares in the last quarter. Glenmede Trust Co. NA grew its stake in shares of PPL by 109.3% during the third quarter. Glenmede Trust Co. NA now owns 121,046 shares of the utilities provider’s stock worth $4,004,000 after acquiring an additional 63,218 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of PPL by 5.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 162,050 shares of the utilities provider’s stock valued at $5,361,000 after acquiring an additional 8,534 shares in the last quarter. Finally, Public Sector Pension Investment Board increased its holdings in shares of PPL by 3.0% during the third quarter. Public Sector Pension Investment Board now owns 128,853 shares of the utilities provider’s stock valued at $4,262,000 after acquiring an additional 3,700 shares in the last quarter. Hedge funds and other institutional investors own 76.99% of the company’s stock.

PPL Stock Up 2.1 %

PPL stock opened at $35.70 on Friday. The business’s 50-day moving average price is $34.23 and its 200 day moving average price is $33.29. The company has a quick ratio of 0.71, a current ratio of 0.86 and a debt-to-equity ratio of 1.13. The firm has a market cap of $26.36 billion, a price-to-earnings ratio of 29.51, a price-to-earnings-growth ratio of 2.77 and a beta of 0.76. PPL Co. has a 52 week low of $25.93 and a 52 week high of $35.97.

PPL (NYSE:PPL) last issued its quarterly earnings data on Thursday, February 13th. The utilities provider reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.03). PPL had a return on equity of 8.88% and a net margin of 10.49%. The firm had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.09 billion. As a group, sell-side analysts anticipate that PPL Co. will post 1.83 earnings per share for the current year.

PPL Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be given a $0.2725 dividend. The ex-dividend date is Monday, March 10th. This represents a $1.09 dividend on an annualized basis and a dividend yield of 3.05%. This is an increase from PPL’s previous quarterly dividend of $0.26. PPL’s dividend payout ratio is 90.08%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Citigroup raised shares of PPL from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 10th. BMO Capital Markets assumed coverage on shares of PPL in a research note on Wednesday, December 11th. They set an “outperform” rating and a $36.00 price objective for the company. UBS Group upped their target price on PPL from $35.00 to $36.00 and gave the company a “neutral” rating in a research report on Friday, March 21st. Morgan Stanley lifted their price target on PPL from $35.00 to $38.00 and gave the stock an “overweight” rating in a research report on Thursday, March 20th. Finally, Jefferies Financial Group cut their price objective on PPL from $39.00 to $38.00 and set a “buy” rating on the stock in a report on Tuesday, December 17th. Four analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $35.27.

Insider Transactions at PPL

In related news, insider Christine M. Martin sold 1,146 shares of the company’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $34.78, for a total value of $39,857.88. Following the completion of the transaction, the insider now owns 37,167 shares of the company’s stock, valued at approximately $1,292,668.26. This represents a 2.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO David J. Bonenberger sold 981 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief operating officer now directly owns 45,414 shares in the company, valued at approximately $1,520,460.72. The trade was a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,140 shares of company stock valued at $173,005 in the last ninety days. 0.22% of the stock is currently owned by corporate insiders.

PPL Profile

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.