Sumitomo Mitsui Trust Holdings Inc. Sells 37,602 Shares of PPL Corp (NYSE:PPL)

Sumitomo Mitsui Trust Holdings Inc. trimmed its stake in PPL Corp (NYSE:PPL) by 1.3% during the second quarter, Holdings Channel reports. The fund owned 2,768,470 shares of the utilities provider’s stock after selling 37,602 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in PPL were worth $85,850,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of PPL. LSV Asset Management raised its stake in shares of PPL by 428.5% in the 1st quarter. LSV Asset Management now owns 1,674,000 shares of the utilities provider’s stock valued at $53,132,000 after acquiring an additional 1,357,246 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of PPL by 12.2% in the 4th quarter. Geode Capital Management LLC now owns 10,366,038 shares of the utilities provider’s stock valued at $293,399,000 after acquiring an additional 1,129,588 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of PPL by 17.2% in the 1st quarter. Janus Henderson Group PLC now owns 5,518,786 shares of the utilities provider’s stock valued at $175,178,000 after acquiring an additional 808,535 shares in the last quarter. California Public Employees Retirement System raised its stake in shares of PPL by 20.4% in the 1st quarter. California Public Employees Retirement System now owns 4,330,832 shares of the utilities provider’s stock valued at $137,461,000 after acquiring an additional 734,286 shares in the last quarter. Finally, Federated Investors Inc. PA raised its stake in shares of PPL by 5.3% in the 1st quarter. Federated Investors Inc. PA now owns 12,830,507 shares of the utilities provider’s stock valued at $407,240,000 after acquiring an additional 647,901 shares in the last quarter. 72.93% of the stock is currently owned by institutional investors and hedge funds.

In other PPL news, insider Philip Swift sold 3,782 shares of PPL stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $30.26, for a total value of $114,443.32. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.34% of the company’s stock.

PPL has been the topic of a number of recent analyst reports. Evercore ISI set a $31.00 price objective on PPL and gave the company a “hold” rating in a research note on Wednesday. UBS Group cut their price objective on PPL from $37.00 to $36.00 and set a “buy” rating on the stock in a research note on Friday, May 17th. Raymond James reissued an “average” rating on shares of PPL in a research note on Monday, May 6th. ValuEngine downgraded PPL from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Finally, Bank of America raised PPL from an “underperform” rating to a “neutral” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $35.75.

NYSE PPL traded down $0.43 during trading on Friday, hitting $29.38. The company’s stock had a trading volume of 3,808,237 shares, compared to its average volume of 4,190,024. The company has a current ratio of 0.55, a quick ratio of 0.53 and a debt-to-equity ratio of 1.75. The business’s 50 day moving average is $30.46. The firm has a market cap of $21.52 billion, a price-to-earnings ratio of 12.24 and a beta of 0.51. PPL Corp has a 52 week low of $27.31 and a 52 week high of $32.88.

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

PPL Company 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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