Icon Advisers Inc. Co. boosted its stake in PPL Corp (NYSE:PPL) by 15.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,100 shares of the utilities provider’s stock after purchasing an additional 5,500 shares during the period. Icon Advisers Inc. Co.’s holdings in PPL were worth $1,306,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in PPL. Federated Investors Inc. PA increased its position in shares of PPL by 5.3% during the first quarter. Federated Investors Inc. PA now owns 12,830,507 shares of the utilities provider’s stock worth $407,240,000 after buying an additional 647,901 shares during the period. Geode Capital Management LLC increased its position in shares of PPL by 12.2% during the fourth quarter. Geode Capital Management LLC now owns 10,366,038 shares of the utilities provider’s stock worth $293,399,000 after buying an additional 1,129,588 shares during the period. Northern Trust Corp increased its position in shares of PPL by 2.1% during the first quarter. Northern Trust Corp now owns 8,412,681 shares of the utilities provider’s stock worth $267,019,000 after buying an additional 169,623 shares during the period. Janus Henderson Group PLC increased its position in shares of PPL by 17.2% during the first quarter. Janus Henderson Group PLC now owns 5,518,786 shares of the utilities provider’s stock worth $175,178,000 after buying an additional 808,535 shares during the period. Finally, California Public Employees Retirement System increased its position in shares of PPL by 20.4% during the first quarter. California Public Employees Retirement System now owns 4,330,832 shares of the utilities provider’s stock worth $137,461,000 after buying an additional 734,286 shares during the period. Hedge funds and other institutional investors own 72.84% of the company’s stock.

NYSE:PPL traded up $0.19 during trading hours on Friday, reaching $29.41. The company had a trading volume of 4,819,300 shares, compared to its average volume of 4,240,633. The company has a quick ratio of 0.48, a current ratio of 0.55 and a debt-to-equity ratio of 1.75. The firm has a market cap of $21.08 billion, a price-to-earnings ratio of 12.25 and a beta of 0.51. The business’s 50-day simple moving average is $30.15 and its two-hundred day simple moving average is $31.01. PPL Corp has a twelve month low of $27.31 and a twelve month high of $32.88.

PPL (NYSE:PPL) last posted its quarterly earnings results on Tuesday, August 6th. The utilities provider reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.02. The business had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.86 billion. PPL had a net margin of 22.97% and a return on equity of 14.57%. The business’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period last year, the company posted $0.55 earnings per share. As a group, equities analysts predict that PPL Corp will post 2.42 earnings per share for the current year.

Several equities research analysts have recently weighed in on the stock. UBS Group decreased their price objective on shares of PPL from $37.00 to $36.00 and set a “buy” rating for the company in a research report on Friday, May 17th. Evercore ISI set a $31.00 price objective on shares of PPL and gave the stock a “hold” rating in a research report on Wednesday, August 7th. GMP Securities reiterated an “average” rating and set a $59.00 price objective on shares of PPL in a research report on Wednesday, August 7th. Raymond James reiterated an “average” rating on shares of PPL in a research report on Monday, May 6th. Finally, ValuEngine cut shares of PPL from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the stock. PPL presently has a consensus rating of “Hold” and a consensus target price of $35.75.

In other PPL news, insider Philip Swift sold 3,782 shares of the firm’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $30.26, for a total value of $114,443.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company 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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