Wagner Bowman Management Corp Invests $208,000 in PPL Corp. (PPL)
Wagner Bowman Management Corp bought a new stake in shares of PPL Corp. (NYSE:PPL) during the second quarter, Holdings Channel reports. The institutional investor bought 5,518 shares of the company’s stock, valued at approximately $208,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Kistler Tiffany Companies LLC boosted its stake in PPL Corp. by 97.2% in the second quarter. Kistler Tiffany Companies LLC now owns 4,040 shares of the company’s stock valued at $153,000 after buying an additional 1,991 shares during the period. CapWealth Advisors LLC boosted its stake in shares of PPL Corp. by 7.0% in the first quarter. CapWealth Advisors LLC now owns 4,860 shares of the company’s stock worth $185,000 after buying an additional 319 shares during the last quarter. OLD Dominion Capital Management Inc. purchased a new stake in shares of PPL Corp. during the first quarter worth about $205,000. Princeton Portfolio Strategies Group LLC purchased a new stake in shares of PPL Corp. during the first quarter worth about $210,000. Finally, JFS Wealth Advisors LLC boosted its stake in shares of PPL Corp. by 0.3% in the second quarter. JFS Wealth Advisors LLC now owns 5,712 shares of the company’s stock worth $216,000 after buying an additional 16 shares during the last quarter. 69.52% of the stock is owned by hedge funds and other institutional investors.
Shares of PPL Corp. (NYSE:PPL) traded up 1.96% during trading on Wednesday, hitting $35.45. The company’s stock had a trading volume of 4,460,013 shares. The firm’s 50 day moving average is $35.27 and its 200-day moving average is $37.11. The company has a market capitalization of $24.04 billion, a P/E ratio of 13.75 and a beta of 0.35. PPL Corp. has a 1-year low of $30.92 and a 1-year high of $39.92.
PPL Corp. (NYSE:PPL) last announced its quarterly earnings data on Tuesday, August 9th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.03. The firm earned $1.79 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the business earned $0.49 EPS. Analysts forecast 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. Investors of record on Friday, September 9th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 4.29%. The ex-dividend date of this dividend is Wednesday, September 7th. PPL Corp.’s dividend payout ratio is currently 58.69%.
A number of brokerages have recently issued reports on PPL. Wolfe Research upgraded PPL Corp. from a “market perform” rating to an “outperform” rating in a report on Wednesday, September 14th. Argus decreased their target price on PPL Corp. from $45.00 to $41.00 and set a “buy” rating for the company in a report on Friday, September 9th. Jefferies Group decreased their target price on PPL Corp. from $38.00 to $37.00 and set a “hold” rating for the company in a report on Wednesday, August 10th. Guggenheim cut PPL Corp. from a “buy” rating to a “neutral” rating in a report on Tuesday, August 9th. Finally, Credit Suisse Group AG reiterated a “hold” rating and set a $44.00 target price on shares of PPL Corp. in a report on Friday, August 5th. Ten analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. PPL Corp. has a consensus rating of “Hold” and a consensus price target of $37.86.
In other 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through 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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