PPL Corporation $PPL Shares Sold by Glenmede Trust Co. NA

Glenmede Trust Co. NA reduced its position in PPL Corporation (NYSE:PPL) by 22.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 144,351 shares of the utilities provider’s stock after selling 40,918 shares during the quarter. Glenmede Trust Co. NA’s holdings in PPL were worth $5,514,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Reaves W H & Co. Inc. boosted its stake in PPL by 2.0% in the fourth quarter. Reaves W H & Co. Inc. now owns 4,424,814 shares of the utilities provider’s stock valued at $154,957,000 after acquiring an additional 88,531 shares during the period. Roffman Miller Associates Inc. PA boosted its position in PPL by 7.8% during the 4th quarter. Roffman Miller Associates Inc. PA now owns 348,335 shares of the utilities provider’s stock valued at $12,199,000 after purchasing an additional 25,172 shares during the period. Miller Howard Investments Inc. NY grew its stake in PPL by 5.8% during the 4th quarter. Miller Howard Investments Inc. NY now owns 344,670 shares of the utilities provider’s stock worth $12,070,000 after buying an additional 18,840 shares during the last quarter. State of Tennessee Department of Treasury increased its position in PPL by 3.8% in the second quarter. State of Tennessee Department of Treasury now owns 249,204 shares of the utilities provider’s stock worth $8,446,000 after buying an additional 9,118 shares during the period. Finally, Captrust Financial Advisors lifted its stake in PPL by 62.8% in the fourth quarter. Captrust Financial Advisors now owns 115,776 shares of the utilities provider’s stock valued at $4,054,000 after buying an additional 44,657 shares during the last quarter. Institutional investors own 76.99% of the company’s stock.

Insider Buying and Selling

In other PPL news, CFO Ashley F. Johnson sold 34,993 shares of the company’s stock in a transaction on Thursday, July 23rd. The stock was sold at an average price of $22.08, for a total value of $772,645.44. Following the transaction, the chief financial officer owned 561,482 shares of the company’s stock, valued at approximately $12,397,522.56. This represents a 5.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kristen Robinson sold 37,107 shares of the stock in a transaction on Wednesday, July 15th. The shares were sold at an average price of $25.05, for a total value of $929,530.35. Following the sale, the director owned 222,897 shares of the company’s stock, valued at $5,583,569.85. This trade represents a 14.27% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.34% of the stock is owned by insiders.

Wall Street Analyst Weigh In

PPL has been the subject of several recent research reports. Bank of America lowered their price target on shares of PPL from $42.00 to $39.00 and set a “buy” rating for the company in a research report on Monday, July 20th. BTIG Research restated a “buy” rating on shares of PPL in a research note on Thursday, June 4th. JPMorgan Chase & Co. lifted their price target on PPL from $42.00 to $45.00 and gave the company an “overweight” rating in a report on Thursday, July 16th. Mizuho raised PPL to a “hold” rating in a report on Friday, July 3rd. Finally, Jefferies Financial Group raised their target price on PPL from $40.00 to $48.00 and gave the company a “buy” rating in a research report on Monday, April 13th. Ten equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, PPL has a consensus rating of “Moderate Buy” and a consensus target price of $41.67.

PPL Price Performance

NYSE PPL opened at $35.22 on Tuesday. PPL Corporation has a 12 month low of $33.17 and a 12 month high of $40.10. The firm has a market capitalization of $26.49 billion, a PE ratio of 21.47, a P/E/G ratio of 2.41 and a beta of 0.57. The company’s 50 day simple moving average is $35.87 and its 200 day simple moving average is $36.87. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.00 and a quick ratio of 0.88.

PPL (NYSE:PPL) last released its earnings results on Friday, May 8th. The utilities provider reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. PPL had a return on equity of 9.41% and a net margin of 13.09%.The firm had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.51 billion. During the same period in the prior year, the firm posted $0.60 earnings per share. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. As a group, equities research analysts forecast that PPL Corporation will post 1.94 EPS for the current fiscal year.

PPL Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 10th were paid a $0.285 dividend. The ex-dividend date of this dividend was Wednesday, June 10th. This represents a $1.14 annualized dividend and a dividend yield of 3.2%. PPL’s payout ratio is currently 69.51%.

PPL Company Profile

PPL Corporation is an energy company that owns and operates electric transmission and distribution infrastructure and provides related customer services. The company’s core business centers on delivering electricity to residential, commercial and industrial customers through regulated utility operations, maintaining grid reliability, responding to outages and managing customer billing and account services.

PPL’s activities include construction and maintenance of distribution and transmission lines, meter and grid management, and programs to support energy efficiency and the interconnection of distributed resources.