Legal & General Group Plc purchased a new position in PPL Corporation (NYSE:PPL - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 5,153,396 shares of the utilities provider's stock, valued at approximately $187,326,000. Legal & General Group Plc owned approximately 0.68% of PPL at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in the business. Allied Private Wealth LLC bought a new stake in PPL during the second quarter worth approximately $42,000. Covestor Ltd lifted its position in shares of PPL by 206.7% during the 2nd quarter. Covestor Ltd now owns 1,291 shares of the utilities provider's stock valued at $47,000 after acquiring an additional 870 shares during the last quarter. Root Financial Partners LLC boosted its stake in shares of PPL by 72.5% during the 1st quarter. Root Financial Partners LLC now owns 2,587 shares of the utilities provider's stock worth $99,000 after acquiring an additional 1,087 shares in the last quarter. Rossby Financial LCC lifted its holdings in shares of PPL by 70.0% during the fourth quarter. Rossby Financial LCC now owns 3,012 shares of the utilities provider's stock valued at $105,000 after purchasing an additional 1,240 shares during the last quarter. Finally, Elyxium Wealth LLC purchased a new position in PPL in the 4th quarter worth about $119,000. Institutional investors own 76.99% of the company's stock.
PPL Trading Down 0.1%
NYSE PPL opened at $34.97 on Thursday. The company has a current ratio of 0.91, a quick ratio of 0.73 and a debt-to-equity ratio of 1.32. PPL Corporation has a 1-year low of $33.17 and a 1-year high of $40.10. The firm's fifty day simple moving average is $35.78 and its 200-day simple moving average is $36.75. The company has a market capitalization of $26.32 billion, a PE ratio of 20.69, a price-to-earnings-growth ratio of 2.39 and a beta of 0.57.
PPL (NYSE:PPL - Get Free Report) last released its quarterly earnings data on Friday, August 7th. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.34 by ($0.01). PPL had a net margin of 13.47% and a return on equity of 9.33%. The firm had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.19 billion. During the same period in the previous year, the business posted $0.32 EPS. PPL's revenue for the quarter was up 4.2% on a year-over-year basis. PPL has set its FY 2026 guidance at 1.900-1.980 EPS. As a group, sell-side analysts anticipate that PPL Corporation will post 1.94 earnings per share for the current fiscal year.
PPL Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Thursday, September 10th will be issued a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Thursday, September 10th. PPL's payout ratio is currently 67.46%.
Insider Activity at PPL
In related news, CFO Ashley F. Johnson sold 34,993 shares of the business's stock in a transaction that occurred on Thursday, July 23rd. The stock was sold at an average price of $22.08, for a total value of $772,645.44. Following the completion of the sale, the chief financial officer owned 561,482 shares of the company's stock, valued at approximately $12,397,522.56. The trade was a 5.87% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kristen Robinson sold 37,107 shares of the firm's stock in a transaction that occurred on Wednesday, July 15th. The shares were sold at an average price of $25.05, for a total transaction of $929,530.35. Following the transaction, the director directly owned 222,897 shares in the company, valued at approximately $5,583,569.85. The trade was a 14.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.34% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on PPL shares. Weiss Ratings lowered shares of PPL from a "buy (b+)" rating to a "buy (b)" rating in a research note on Thursday, June 18th. BMO Capital Markets decreased their price objective on PPL from $40.00 to $38.00 and set an "outperform" rating for the company in a research report on Monday, August 10th. Mizuho raised PPL to a "hold" rating in a research note on Friday, July 3rd. Barclays upped their target price on PPL from $39.00 to $41.00 and gave the company an "overweight" rating in a report on Tuesday, July 14th. Finally, Jefferies Financial Group reduced their price target on shares of PPL from $48.00 to $44.00 and set a "buy" rating for the company in a research report on Tuesday. Ten research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $41.00.
Check Out Our Latest Stock Analysis on PPL
PPL Company Profile
(
Free Report)
PPL Corporation is an energy company that owns and operates electric transmission and distribution infrastructure and provides related customer services. The company's core business centers on delivering electricity to residential, commercial and industrial customers through regulated utility operations, maintaining grid reliability, responding to outages and managing customer billing and account services.
PPL's activities include construction and maintenance of distribution and transmission lines, meter and grid management, and programs to support energy efficiency and the interconnection of distributed resources.
See Also
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