Virginia Retirement Systems ET AL bought a new stake in shares of PPL Corp. (NYSE:PPL) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 168,000 shares of the company’s stock, valued at approximately $6,342,000.

A number of other hedge funds have also added to or reduced their stakes in PPL. Vanguard Group Inc. raised its stake in PPL Corp. by 3.4% in the second quarter. Vanguard Group Inc. now owns 45,884,630 shares of the company’s stock valued at $1,732,144,000 after buying an additional 1,503,013 shares during the last quarter. State Street Corp raised its stake in PPL Corp. by 8.8% in the first quarter. State Street Corp now owns 33,738,639 shares of the company’s stock valued at $1,284,426,000 after buying an additional 2,729,972 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in PPL Corp. by 0.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 17,296,185 shares of the company’s stock valued at $658,466,000 after buying an additional 101,677 shares during the last quarter. Nordea Investment Management AB raised its stake in PPL Corp. by 14.0% in the second quarter. Nordea Investment Management AB now owns 9,434,152 shares of the company’s stock valued at $356,139,000 after buying an additional 1,159,792 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in PPL Corp. by 3.4% in the first quarter. Geode Capital Management LLC now owns 5,983,589 shares of the company’s stock valued at $227,374,000 after buying an additional 197,852 shares during the last quarter. Hedge funds and other institutional investors own 70.09% of the company’s stock.

Shares of PPL Corp. (NYSE:PPL) opened at 35.09 on Monday. The firm has a market capitalization of $23.79 billion, a P/E ratio of 13.61 and a beta of 0.35. PPL Corp. has a one year low of $30.10 and a one year high of $39.92. The firm has a 50-day moving average of $35.69 and a 200-day moving average of $37.13.

PPL Corp. (NYSE:PPL) last announced its earnings results on Tuesday, August 9th. The company reported $0.56 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.03. PPL Corp. had a return on equity of 14.77% and a net margin of 23.56%. The company earned $1.79 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same period last year, the company posted $0.49 earnings per share. The firm’s quarterly revenue was up .2% compared to the same quarter last year. On average, equities analysts predict that PPL Corp. will post $2.35 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Friday, September 9th will be given a $0.38 dividend. The ex-dividend date is Wednesday, September 7th. This represents a $1.52 dividend on an annualized basis and a yield of 4.33%. PPL Corp.’s payout ratio is 58.69%.

PPL has been the subject of several recent research reports. Barclays PLC lowered their target price on shares of PPL Corp. from $43.00 to $42.00 and set an “equal weight” rating for the company in a research note on Monday, July 18th. Wolfe Research upgraded shares of PPL Corp. from a “market perform” rating to an “outperform” rating in a research note on Wednesday, September 14th. Credit Suisse Group AG reiterated a “hold” rating and set a $44.00 target price on shares of PPL Corp. in a research note on Friday, August 5th. Vetr upgraded shares of PPL Corp. from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research report on Thursday, July 14th. Finally, Argus lowered their price target on shares of PPL Corp. from $45.00 to $41.00 and set a “buy” rating for the company in a research report on Friday, September 9th. Ten analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. PPL Corp. presently has an average rating of “Hold” and a consensus target price of $37.86.

In other PPL Corp. news, VP Joseph P. Bergstein, Jr. sold 1,581 shares of the firm’s stock in a transaction dated Friday, July 8th. The stock was sold at an average price of $37.06, for a total transaction of $58,591.86. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Robert A. Symons sold 13,901 shares of the firm’s stock in a transaction dated Monday, July 11th. The stock was sold at an average price of $37.40, for a total value of $519,897.40. The disclosure for this sale can be found here. 0.42% of the stock is owned by corporate insiders.

About PPL Corp.

PPL Corporation (PPL) is a utility holding company. Through its subsidiaries, PPL delivers electricity to customers in the United Kingdom, Pennsylvania, Kentucky, Virginia and Tennessee; delivers natural gas to customers in Kentucky, and generates electricity from power plants in Kentucky. It operates through three segments: U.K.

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