Zurcher Kantonalbank Zurich Cantonalbank Has $6.05 Million Stock Position in PPL Co. (NYSE:PPL)

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of PPL Co. (NYSE:PPL) by 15.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 186,471 shares of the utilities provider’s stock after buying an additional 24,421 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in PPL were worth $6,053,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Global Retirement Partners LLC grew its position in PPL by 2.4% during the 4th quarter. Global Retirement Partners LLC now owns 12,530 shares of the utilities provider’s stock worth $407,000 after acquiring an additional 299 shares during the last quarter. Great Valley Advisor Group Inc. boosted its stake in shares of PPL by 1.7% during the third quarter. Great Valley Advisor Group Inc. now owns 17,696 shares of the utilities provider’s stock valued at $585,000 after purchasing an additional 301 shares in the last quarter. Opal Wealth Advisors LLC grew its holdings in shares of PPL by 4.7% during the fourth quarter. Opal Wealth Advisors LLC now owns 6,797 shares of the utilities provider’s stock worth $221,000 after purchasing an additional 305 shares during the last quarter. Arkfeld Wealth Strategies L.L.C. increased its stake in shares of PPL by 0.4% in the fourth quarter. Arkfeld Wealth Strategies L.L.C. now owns 78,296 shares of the utilities provider’s stock valued at $2,480,000 after buying an additional 313 shares during the period. Finally, Choreo LLC raised its holdings in PPL by 0.9% in the 4th quarter. Choreo LLC now owns 37,622 shares of the utilities provider’s stock valued at $1,230,000 after buying an additional 322 shares during the last quarter. 76.99% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, SVP Tadd J. Henninger sold 6,639 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $32.16, for a total value of $213,510.24. Following the completion of the sale, the senior vice president now directly owns 11,210 shares in the company, valued at $360,513.60. This trade represents a 37.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Christine M. Martin sold 1,146 shares of the business’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $34.78, for a total value of $39,857.88. Following the completion of the sale, the insider now directly owns 37,167 shares of the company’s stock, valued at $1,292,668.26. The trade was a 2.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,779 shares of company stock worth $386,515. 0.22% of the stock is currently owned by company insiders.

PPL Stock Performance

PPL stock opened at $34.95 on Friday. PPL Co. has a 1-year low of $25.93 and a 1-year high of $35.91. The company has a current ratio of 0.86, a quick ratio of 0.71 and a debt-to-equity ratio of 1.13. The stock has a 50-day moving average price of $33.69 and a 200-day moving average price of $33.08. The firm has a market cap of $25.80 billion, a PE ratio of 28.88, a price-to-earnings-growth ratio of 2.77 and a beta of 0.76.

PPL (NYSE:PPL) last issued its quarterly earnings results on Thursday, February 13th. The utilities provider reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.03). The business had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.09 billion. PPL had a net margin of 10.49% and a return on equity of 8.88%. As a group, equities research analysts expect that PPL Co. will post 1.83 earnings per share for the current year.

PPL Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 10th will be paid a dividend of $0.2725 per share. The ex-dividend date is Monday, March 10th. This is a positive change from PPL’s previous quarterly dividend of $0.26. This represents a $1.09 annualized dividend and a yield of 3.12%. PPL’s dividend payout ratio is currently 90.08%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Barclays boosted their target price on shares of PPL from $33.00 to $36.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 25th. BMO Capital Markets started coverage on shares of PPL in a report on Wednesday, December 11th. They set an “outperform” rating and a $36.00 price target on the stock. Citigroup upgraded PPL from a “hold” rating to a “strong-buy” rating in a report on Monday, March 10th. Finally, Jefferies Financial Group cut their target price on PPL from $39.00 to $38.00 and set a “buy” rating on the stock in a report on Tuesday, December 17th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $34.70.

PPL Profile

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.