Wagner Bowman Management Corp Invests $208,000 in PPL Corp. (PPL)
Wagner Bowman Management Corp purchased a new position in PPL Corp. (NYSE:PPL) during the second quarter, Holdings Channel reports. The institutional investor purchased 5,518 shares of the company’s stock, valued at approximately $208,000.
Several other large investors have also recently bought and sold shares of the company. Chevy Chase Trust Holdings Inc. raised its stake in PPL Corp. by 1.5% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 585,646 shares of the company’s stock worth $22,109,000 after buying an additional 8,772 shares during the period. Jacobs Levy Equity Management Inc. raised its stake in PPL Corp. by 7.2% in the first quarter. Jacobs Levy Equity Management Inc. now owns 81,220 shares of the company’s stock worth $3,092,000 after buying an additional 5,460 shares during the period. CIBC World Markets Inc. raised its stake in PPL Corp. by 14.4% in the second quarter. CIBC World Markets Inc. now owns 81,486 shares of the company’s stock worth $3,076,000 after buying an additional 10,260 shares during the period. Los Angeles Capital Management & Equity Research Inc. raised its stake in PPL Corp. by 183.7% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 220,783 shares of the company’s stock worth $8,405,000 after buying an additional 142,955 shares during the period. Finally, USS Investment Management Ltd raised its stake in PPL Corp. by 5.7% in the first quarter. USS Investment Management Ltd now owns 1,496,330 shares of the company’s stock worth $56,950,000 after buying an additional 80,715 shares during the period. 69.52% of the stock is owned by institutional investors.
Shares of PPL Corp. (NYSE:PPL) traded up 1.96% during trading on Wednesday, reaching $35.45. The company’s stock had a trading volume of 4,460,013 shares. The company has a market cap of $24.04 billion, a PE ratio of 13.75 and a beta of 0.35. PPL Corp. has a 52-week low of $30.92 and a 52-week high of $39.92. The firm’s 50-day moving average is $35.27 and its 200 day moving average is $37.11.
PPL Corp. (NYSE:PPL) last released its quarterly earnings data on Tuesday, August 9th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.03. The firm had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.80 billion. PPL Corp. had a return on equity of 14.77% and a net margin of 23.56%. The business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.49 earnings per share. On average, equities research analysts predict that PPL Corp. will post $2.35 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Friday, September 9th will be paid a $0.38 dividend. The ex-dividend date is Wednesday, September 7th. This represents a $1.52 annualized dividend and a yield of 4.29%. PPL Corp.’s dividend payout ratio is 58.69%.
PPL has been the topic of a number of research analyst reports. Vetr raised PPL Corp. from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a report on Thursday, July 14th. Argus lowered their target price on PPL Corp. from $45.00 to $41.00 and set a “buy” rating on the stock in a report on Friday, September 9th. Barclays PLC lowered their target price on PPL Corp. from $43.00 to $42.00 and set an “equal weight” rating on the stock in a report on Monday, July 18th. Credit Suisse Group AG reissued a “hold” rating and set a $44.00 price objective on shares of PPL Corp. in a report on Friday, August 5th. Finally, Zacks Investment Research raised PPL Corp. from a “sell” rating to a “hold” rating in a report on Thursday, July 14th. Ten research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $37.86.
In other news, VP Joseph P. Bergstein, Jr. sold 1,581 shares of the company’s stock in a transaction that occurred on Friday, July 8th. The stock was sold at an average price of $37.06, for a total value of $58,591.86. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Robert A. Symons sold 13,901 shares of the company’s stock in a transaction that occurred on Monday, July 11th. The shares were 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 company insiders.
PPL Corp. Company Profile
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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