Slocum Gordon & Co LLP Sells 3,363 Shares of PPL Co. (NYSE:PPL)

Slocum Gordon & Co LLP cut its stake in shares of PPL Co. (NYSE:PPL) by 1.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 170,387 shares of the utilities provider’s stock after selling 3,363 shares during the quarter. PPL makes up 4.5% of Slocum Gordon & Co LLP’s portfolio, making the stock its 8th largest holding. Slocum Gordon & Co LLP’s holdings in PPL were worth $5,531,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Sanctuary Advisors LLC bought a new position in PPL during the 2nd quarter worth $1,619,000. Czech National Bank grew its position in shares of PPL by 6.9% during the third quarter. Czech National Bank now owns 150,285 shares of the utilities provider’s stock worth $4,971,000 after acquiring an additional 9,702 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of PPL by 26.9% in the 3rd quarter. GAMMA Investing LLC now owns 15,994 shares of the utilities provider’s stock worth $529,000 after acquiring an additional 3,393 shares during the period. CWM LLC lifted its position in PPL by 2.8% in the 3rd quarter. CWM LLC now owns 24,549 shares of the utilities provider’s stock valued at $812,000 after purchasing an additional 661 shares during the last quarter. Finally, Hyperion Partners LLC acquired a new position in PPL during the 3rd quarter valued at about $206,000. 76.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PPL has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. initiated coverage on PPL in a report on Friday, October 25th. They set an “overweight” rating and a $37.00 price target on the stock. Barclays cut their target price on PPL from $34.00 to $33.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 22nd. Bank of America increased their price target on PPL from $34.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. BMO Capital Markets started coverage on shares of PPL in a research note on Wednesday, December 11th. They set an “outperform” rating and a $36.00 price objective on the stock. Finally, Citigroup increased their target price on shares of PPL from $31.00 to $36.00 and gave the company a “neutral” rating in a research report on Thursday, December 12th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $34.00.

PPL Price Performance

Shares of NYSE:PPL opened at $34.11 on Friday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.07 and a current ratio of 1.29. The company has a market capitalization of $25.18 billion, a PE ratio of 30.46, a price-to-earnings-growth ratio of 2.71 and a beta of 0.83. The stock has a fifty day moving average of $32.85 and a 200-day moving average of $32.36. PPL Co. has a one year low of $25.35 and a one year high of $35.15.

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. This represents a $1.03 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date was Tuesday, December 10th. PPL’s dividend payout ratio is presently 91.97%.

Insider Activity at PPL

In other PPL news, COO David J. Bonenberger sold 981 shares of the 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 owns 45,414 shares in the company, valued at $1,520,460.72. This represents a 2.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction of $314,680.35. Following the transaction, 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 19,794 shares of company stock worth $661,338. 0.22% of the stock is owned by corporate insiders.

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.