Motco Has $127,000 Stock Position in PPL Corp (NYSE:PPL)

Motco reduced its holdings in PPL Corp (NYSE:PPL) by 9.2% in the 4th quarter, HoldingsChannel reports. The fund owned 3,547 shares of the utilities provider’s stock after selling 359 shares during the period. Motco’s holdings in PPL were worth $127,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bartlett & Co. LLC increased its position in PPL by 100.0% in the 3rd quarter. Bartlett & Co. LLC now owns 800 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 400 shares during the period. Barnett & Company Inc. acquired a new stake in shares of PPL during the fourth quarter worth $25,000. TRUE Private Wealth Advisors acquired a new stake in shares of PPL during the fourth quarter worth $30,000. BBVA USA Bancshares Inc. acquired a new stake in shares of PPL during the fourth quarter worth $32,000. Finally, Venturi Wealth Management LLC acquired a new stake in shares of PPL during the third quarter worth $35,000. Hedge funds and other institutional investors own 70.66% of the company’s stock.

PPL has been the subject of several recent analyst reports. Royal Bank of Canada reiterated a “hold” rating and set a $33.00 price objective on shares of PPL in a research report on Monday, January 20th. Cfra increased their price objective on shares of PPL from $37.00 to $40.00 and gave the stock a “strong-buy” rating in a research report on Friday. Wells Fargo & Co initiated coverage on shares of PPL in a research report on Thursday, December 19th. They set an “equal weight” rating and a $50.00 price objective for the company. Guggenheim upgraded shares of PPL from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 7th. Finally, Citigroup increased their price objective on shares of PPL from $33.00 to $36.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. PPL presently has a consensus rating of “Hold” and an average target price of $38.88.

In related news, CEO William H. Spence sold 388,968 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $34.32, for a total transaction of $13,349,381.76. Also, COO Vincent Sorgi sold 13,696 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $34.04, for a total transaction of $466,211.84. Following the transaction, the chief operating officer now directly owns 30,976 shares in the company, valued at $1,054,423.04. The disclosure for this sale can be found here. 0.34% of the stock is owned by corporate insiders.

Shares of NYSE PPL opened at $35.37 on Friday. The firm has a market cap of $26.23 billion, a PE ratio of 15.05 and a beta of 0.51. PPL Corp has a 12-month low of $28.55 and a 12-month high of $36.83. The company’s fifty day simple moving average is $35.94 and its 200 day simple moving average is $32.98. The company has a quick ratio of 0.58, a current ratio of 0.66 and a debt-to-equity ratio of 1.81.

PPL (NYSE:PPL) last issued its earnings results on Friday, February 14th. The utilities provider reported $0.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.04. The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $2.08 billion. PPL had a net margin of 23.17% and a return on equity of 14.73%. PPL’s revenue was up .8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.52 earnings per share. On average, equities analysts predict that PPL Corp will post 2.42 earnings per share for the current year.

About PPL

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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