Seeyond Sells 17,375 Shares of PPL Co. (NYSE:PPL)

Posted by Defense World Staff on Jun 10th, 2023

Seeyond reduced its position in PPL Co. (NYSE:PPL – Get Rating) by 83.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,555 shares of the utilities provider’s stock after selling 17,375 shares during the quarter. Seeyond’s holdings in PPL were worth $104,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PPL. CI Investments Inc. increased its stake in shares of PPL by 989.9% in the third quarter. CI Investments Inc. now owns 970 shares of the utilities provider’s stock valued at $25,000 after buying an additional 881 shares in the last quarter. MinichMacGregor Wealth Management LLC acquired a new stake in PPL in the fourth quarter worth about $25,000. Worth Asset Management LLC acquired a new stake in PPL in the first quarter worth about $27,000. Glass Jacobson Investment Advisors llc acquired a new stake in PPL in the fourth quarter worth about $33,000. Finally, Armstrong Advisory Group Inc. bought a new position in PPL during the fourth quarter worth about $51,000. 70.02% of the stock is owned by institutional investors.

PPL Stock Down 0.1 %

PPL stock opened at $26.82 on Friday. The company has a current ratio of 1.23, a quick ratio of 1.05 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $19.76 billion, a PE ratio of 25.54, a PEG ratio of 2.28 and a beta of 0.78. PPL Co. has a 1-year low of $23.47 and a 1-year high of $31.74. The business’s 50 day simple moving average is $27.82 and its 200 day simple moving average is $28.36.

PPL (NYSE:PPL – Get Rating) last released its quarterly earnings results on Thursday, May 4th. The utilities provider reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.04. The business had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $1.86 billion. PPL had a return on equity of 7.81% and a net margin of 9.00%. The firm’s quarterly revenue was up 35.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.41 EPS. As a group, research analysts anticipate that PPL Co. will post 1.59 EPS for the current year.

PPL Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 3rd. Investors of record on Friday, June 9th will be paid a $0.24 dividend. The ex-dividend date is Thursday, June 8th. This represents a $0.96 annualized dividend and a yield of 3.58%. PPL’s dividend payout ratio (DPR) is presently 91.43%.

Insider Activity at PPL

In related news, insider John R. Crockett III sold 5,500 shares of the business’s stock in a transaction on Wednesday, April 5th. The stock was sold at an average price of $28.00, for a total value of $154,000.00. Following the completion of the sale, the insider now directly owns 9,161 shares in the company, valued at approximately $256,508. The transaction 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.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Mizuho reduced their target price on PPL from $32.00 to $28.00 in a report on Monday, March 20th. StockNews.com assumed coverage on PPL in a report on Thursday, May 18th. They set a “hold” rating on the stock. TheStreet upgraded PPL from a “c+” rating to a “b” rating in a report on Thursday, May 4th. Finally, Morgan Stanley raised their target price on PPL from $29.00 to $32.00 and gave the stock an “overweight” rating in a report on Thursday, April 20th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $31.00.

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.