American Century Companies Inc. Purchases 2,717,726 Shares of PPL Corporation $PPL

Key Points

• American Century Companies Inc. has significantly increased its stake in PPL Corporation by 1,418.1%, now owning approximately 2.91 million shares worth $105 million.
• Several other institutional investors have also bolstered their holdings in PPL, with a combined 76.99% of the company’s stock now owned by institutional investors and hedge funds.
• Analysts recently upgraded PPL's rating, with Barclays changing it from a "hold" to a "strong-buy," and the stock has a consensus price target of $36.70.

American Century Companies Inc. increased its holdings in PPL Corporation (NYSE:PPL - Free Report) by 1,418.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,909,371 shares of the utilities provider's stock after purchasing an additional 2,717,726 shares during the quarter. American Century Companies Inc. owned approximately 0.39% of PPL worth $105,057,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of PPL. Boston Partners grew its stake in shares of PPL by 37.2% in the first quarter. Boston Partners now owns 13,062,423 shares of the utilities provider's stock worth $471,756,000 after purchasing an additional 3,544,282 shares during the last quarter. Merewether Investment Management LP bought a new stake in shares of PPL in the fourth quarter worth $70,063,000. Nuveen LLC acquired a new position in PPL in the first quarter valued at $60,020,000. JPMorgan Chase & Co. lifted its holdings in PPL by 42.9% in the first quarter. JPMorgan Chase & Co. now owns 4,779,155 shares of the utilities provider's stock valued at $172,575,000 after buying an additional 1,434,778 shares during the period. Finally, Bank of America Corp DE lifted its holdings in PPL by 12.1% in the fourth quarter. Bank of America Corp DE now owns 12,672,428 shares of the utilities provider's stock valued at $411,347,000 after buying an additional 1,371,000 shares during the period. Institutional investors own 76.99% of the company's stock.

Insider Transactions at PPL

In other PPL news, COO David J. Bonenberger sold 2,165 shares of the company's stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $35.86, for a total value of $77,636.90. Following the completion of the sale, the chief operating officer directly owned 45,560 shares of the company's stock, valued at approximately $1,633,781.60. This represents a 4.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.28% of the company's stock.

PPL Stock Down 1.0%

Shares of NYSE:PPL traded down $0.3770 during midday trading on Thursday, hitting $36.7130. 4,044,093 shares of the company's stock were exchanged, compared to its average volume of 5,650,644. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.59 and a quick ratio of 0.49. The stock has a 50 day moving average price of $35.15 and a 200-day moving average price of $34.93. The company has a market cap of $27.15 billion, a PE ratio of 27.40, a price-to-earnings-growth ratio of 2.64 and a beta of 0.64. PPL Corporation has a 12 month low of $31.22 and a 12 month high of $37.38.

PPL (NYSE:PPL - Get Free Report) last posted its earnings results on Thursday, July 31st. The utilities provider reported $0.32 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.05). The business had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $1.99 billion. PPL had a return on equity of 8.81% and a net margin of 11.22%.The company's revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.38 earnings per share. PPL has set its FY 2025 guidance at 1.750-1.870 EPS. On average, sell-side analysts anticipate that PPL Corporation will post 1.83 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently issued reports on PPL. Morgan Stanley dropped their target price on shares of PPL from $38.00 to $37.00 and set an "overweight" rating on the stock in a report on Wednesday, June 18th. Wall Street Zen upgraded shares of PPL from a "sell" rating to a "hold" rating in a report on Friday, May 9th. Guggenheim boosted their target price on shares of PPL from $38.00 to $40.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Finally, Barclays upgraded shares of PPL from a "hold" rating to a "strong-buy" rating in a report on Monday, July 7th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $36.70.

About PPL

PPL Corporation, an energy company, focuses on providing electricity and natural gas to approximately 3.6 million customers in the United States. It operates through three segments: Kentucky Regulated, Pennsylvania Regulated, and Rhode Island Regulated. The company delivers electricity to customers in Pennsylvania, Kentucky, Virginia, and Rhode Island; delivers natural gas to customers in Kentucky and Rhode Island; and generates electricity from power plants in Kentucky.