Czech National Bank Has $2.52 Million Stake in PPL Co. (NYSE:PPL)

Posted by Defense World Staff on Mar 26th, 2023

Czech National Bank lifted its position in shares of PPL Co. (NYSE:PPL – Get Rating) by 0.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 86,217 shares of the utilities provider’s stock after acquiring an additional 662 shares during the quarter. Czech National Bank’s holdings in PPL were worth $2,519,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of PPL. Ceredex Value Advisors LLC acquired a new stake in shares of PPL during the 3rd quarter valued at $104,741,000. Vanguard Group Inc. lifted its holdings in PPL by 3.8% during the 3rd quarter. Vanguard Group Inc. now owns 93,472,081 shares of the utilities provider’s stock worth $2,369,517,000 after buying an additional 3,419,854 shares during the period. Cohen & Steers Inc. lifted its holdings in PPL by 107.1% during the 3rd quarter. Cohen & Steers Inc. now owns 6,209,560 shares of the utilities provider’s stock worth $157,412,000 after buying an additional 3,210,872 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in PPL by 1,052.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,890,768 shares of the utilities provider’s stock worth $78,426,000 after buying an additional 2,640,002 shares during the period. Finally, Mizuho Markets Americas LLC acquired a new position in PPL during the 3rd quarter worth about $57,798,000. Institutional investors and hedge funds own 70.02% of the company’s stock.

PPL Stock Performance

Shares of PPL stock opened at $26.78 on Friday. PPL Co. has a one year low of $23.47 and a one year high of $31.74. The firm has a market capitalization of $19.73 billion, a price-to-earnings ratio of 26.00 and a beta of 0.77. The business has a 50-day simple moving average of $28.15 and a 200 day simple moving average of $28.05. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.75 and a quick ratio of 0.63.

PPL (NYSE:PPL – Get Rating) last issued its earnings results on Friday, February 17th. The utilities provider reported $0.28 EPS for the quarter, meeting analysts’ consensus estimates of $0.28. PPL had a return on equity of 7.50% and a net margin of 9.57%. The business had revenue of $2.29 billion during the quarter, compared to analyst estimates of $1.62 billion. During the same period in the previous year, the company posted $0.22 EPS. The firm’s revenue was up 54.2% compared to the same quarter last year. On average, research analysts anticipate that PPL Co. will post 1.59 earnings per share for the current fiscal year.

PPL Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Investors of record on Friday, March 10th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 3.58%. This is a positive change from PPL’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Thursday, March 9th. PPL’s payout ratio is presently 93.20%.

Analysts Set New Price Targets

Several brokerages have commented on PPL. Mizuho cut their target price on PPL from $32.00 to $28.00 in a report on Monday, March 20th. Barclays began coverage on PPL in a report on Wednesday, January 18th. They set an “equal weight” rating on the stock. Morgan Stanley cut their target price on PPL from $31.00 to $29.00 and set an “overweight” rating on the stock in a report on Tuesday, March 21st. Wells Fargo & Company lifted their target price on PPL to $34.00 in a report on Wednesday, December 14th. Finally, TheStreet downgraded PPL from a “b” rating to a “c+” rating in a research note on Tuesday, February 21st. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $30.63.

Insider Activity at PPL

In other PPL news, insider David J. Bonenberger sold 29,080 shares of the business’s stock in a transaction that occurred on Wednesday, January 4th. The stock was sold at an average price of $30.00, for a total transaction of $872,400.00. Following the completion of the sale, the insider now directly owns 34,606 shares of the company’s stock, valued at approximately $1,038,180. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.17% of the stock is currently owned by corporate insiders.

About PPL

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PPL Corp. engages in the generation, transmission and distribution of electricity. It operates through the two reportable segments: Kentucky Regulated & Pennsylvania Regulated. The Kentucky Regulated segment consists of LKE’s regulated electricity generation, transmission and distribution operations of Louisville Gas and Electric Company and Kentucky Utilities Company as well as regulated distribution and sale of natural gas of Louisville Gas and Electric Company.

Institutional Ownership by Quarter for PPL (NYSE:PPL)

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