Vestcor Inc Trims Position in PPL Co. (NYSE:PPL)

Vestcor Inc lessened its stake in shares of PPL Co. (NYSE:PPL) by 14.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 48,936 shares of the utilities provider’s stock after selling 8,078 shares during the quarter. Vestcor Inc’s holdings in PPL were worth $1,588,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Kentucky Trust Co purchased a new position in PPL during the 4th quarter valued at about $32,000. Ashton Thomas Securities LLC purchased a new position in shares of PPL during the third quarter worth about $34,000. Rosenberg Matthew Hamilton grew its holdings in shares of PPL by 1,092.2% during the fourth quarter. Rosenberg Matthew Hamilton now owns 1,216 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 1,114 shares in the last quarter. Larson Financial Group LLC grew its holdings in shares of PPL by 84.5% during the fourth quarter. Larson Financial Group LLC now owns 1,264 shares of the utilities provider’s stock worth $41,000 after purchasing an additional 579 shares in the last quarter. Finally, Covestor Ltd grew its holdings in shares of PPL by 139.2% during the third quarter. Covestor Ltd now owns 1,512 shares of the utilities provider’s stock worth $50,000 after purchasing an additional 880 shares in the last quarter. Hedge funds and other institutional investors own 76.99% of the company’s stock.

PPL Stock Performance

Shares of PPL stock opened at $34.95 on Friday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.71 and a current ratio of 0.86. PPL Co. has a fifty-two week low of $25.93 and a fifty-two week high of $35.91. The stock has a 50 day moving average price of $33.69 and a two-hundred day moving average price of $33.08. The company has a market capitalization of $25.80 billion, a P/E ratio of 28.88, a PEG ratio of 2.77 and a beta of 0.76.

PPL (NYSE:PPL) last announced its quarterly earnings data on Thursday, February 13th. The utilities provider reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.03). PPL had a net margin of 10.49% and a return on equity of 8.88%. The company had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.09 billion. Analysts expect that PPL Co. will post 1.83 earnings per share for the current year.

PPL Increases Dividend

The business 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 annualized dividend and a yield of 3.12%. This is an increase from PPL’s previous quarterly dividend of $0.26. PPL’s payout ratio is presently 90.08%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. BMO Capital Markets assumed coverage on PPL in a report on Wednesday, December 11th. They set an “outperform” rating and a $36.00 price objective for the company. Citigroup raised PPL from a “hold” rating to a “strong-buy” rating in a report on Monday, March 10th. Jefferies Financial Group cut their price objective on PPL from $39.00 to $38.00 and set a “buy” rating for the company in a report on Tuesday, December 17th. Finally, Barclays boosted their price objective on PPL from $33.00 to $36.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 25th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $34.70.

Insider Buying and Selling at PPL

In related news, insider John R. Crockett III sold 1,589 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $33.12, for a total transaction of $52,627.68. Following the completion of the transaction, the insider now owns 10,845 shares in the company, valued at $359,186.40. This represents a 12.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO David J. Bonenberger sold 981 shares of the company’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 transaction, the chief operating officer now owns 45,414 shares of the company’s stock, valued at approximately $1,520,460.72. This represents a 2.11 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,779 shares of company stock worth $386,515. 0.22% of the stock is currently owned by 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.