Symons Capital Management Inc. Sells 41,069 Shares of PPL Corp (NYSE:PPL)

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Symons Capital Management Inc. lowered its holdings in PPL Corp (NYSE:PPL) by 10.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 370,841 shares of the utilities provider’s stock after selling 41,069 shares during the quarter. PPL accounts for 5.4% of Symons Capital Management Inc.’s holdings, making the stock its biggest position. Symons Capital Management Inc.’s holdings in PPL were worth $11,678,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Bartlett & Co. LLC grew its position in PPL by 100.0% during the third quarter. Bartlett & Co. LLC now owns 800 shares of the utilities provider’s stock valued at $25,000 after buying an additional 400 shares during the period. TRUE Private Wealth Advisors acquired a new stake in PPL during the second quarter valued at $25,000. Kings Point Capital Management acquired a new stake in PPL during the second quarter valued at $28,000. Venturi Wealth Management LLC acquired a new stake in PPL during the third quarter valued at $35,000. Finally, Kavar Capital Partners LLC acquired a new stake in PPL during the second quarter valued at $35,000. Hedge funds and other institutional investors own 71.46% of the company’s stock.

PPL traded up $0.47 during midday trading on Friday, hitting $33.72. 6,964,824 shares of the company traded hands, compared to its average volume of 4,562,918. The company has a current ratio of 0.55, a quick ratio of 0.48 and a debt-to-equity ratio of 1.75. The company has a market capitalization of $24.25 billion, a price-to-earnings ratio of 14.05 and a beta of 0.49. PPL Corp has a 52-week low of $27.31 and a 52-week high of $33.83. The business has a 50 day simple moving average of $32.10 and a two-hundred day simple moving average of $30.82.

PPL (NYSE:PPL) last posted its quarterly earnings data on Tuesday, November 5th. The utilities provider reported $0.61 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.01). The company had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $2.04 billion. PPL had a net margin of 23.17% and a return on equity of 14.72%. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.59 earnings per share. Equities research analysts anticipate that PPL Corp will post 2.43 earnings per share for the current year.

Several analysts recently commented on the stock. Zacks Investment Research upgraded shares of PPL from a “sell” rating to a “hold” rating and set a $34.00 price target on the stock in a research report on Tuesday, October 15th. ValuEngine lowered shares of PPL from a “hold” rating to a “sell” rating in a research report on Friday, November 1st. Morgan Stanley set a $30.00 price target on shares of PPL and gave the company a “hold” rating in a research report on Friday, August 16th. Macquarie upgraded shares of PPL from an “underperform” rating to a “neutral” rating and raised their price target for the company from $27.00 to $32.50 in a research report on Wednesday, October 23rd. Finally, Citigroup raised their price target on shares of PPL from $30.00 to $33.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $36.13.

In other PPL news, EVP Joanne H. Raphael sold 21,288 shares of the stock in a transaction on Monday, October 14th. The shares were sold at an average price of $31.91, for a total transaction of $679,300.08. Following the transaction, the executive vice president now directly owns 46,857 shares of the company’s stock, valued at $1,495,206.87. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO William H. Spence sold 215,020 shares of the stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $33.00, for a total transaction of $7,095,660.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 624,308 shares of company stock worth $20,800,120. Insiders own 0.34% of the company’s stock.

PPL Profile

PPL Corporation, a utility holding company, delivers electricity and natural gas in the United States and the United Kingdom. The company operates through three segments: U.K. Regulated, Kentucky Regulated, and Pennsylvania Regulated. It serves approximately 414,000 electric and 328,000 natural gas customers in Louisville and adjacent areas in Kentucky; 527,000 electric customers in central, southeastern, and western Kentucky; and 28,000 electric customers in 5 counties in southwestern Virginia.

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Institutional Ownership by Quarter for PPL (NYSE:PPL)

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