Concentric Capital Strategies LP Sells 176,778 Shares of PPL Corporation $PPL

Key Points

• Concentric Capital Strategies LP has reduced its stake in PPL Corporation by 86.5%, selling 176,778 shares and leaving them with 27,624 shares valued at approximately $998,000.
• Analysts have a consensus rating of "Buy" for PPL, with Barclays recently upgrading the stock to a "strong-buy" and an average price target of $36.70.
• PPL announced a quarterly dividend of $0.2725 per share to be paid on October 1st, indicating a yield of 3.0% and a dividend payout ratio of 81.34%.

Concentric Capital Strategies LP reduced its position in PPL Corporation (NYSE:PPL - Free Report) by 86.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 27,624 shares of the utilities provider's stock after selling 176,778 shares during the quarter. Concentric Capital Strategies LP's holdings in PPL were worth $998,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in PPL by 17.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 79,088 shares of the utilities provider's stock worth $2,824,000 after acquiring an additional 11,782 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in PPL by 9.2% during the first quarter. Envestnet Asset Management Inc. now owns 2,975,310 shares of the utilities provider's stock worth $107,438,000 after acquiring an additional 250,564 shares in the last quarter. Oppenheimer & Co. Inc. raised its holdings in PPL by 45.0% during the first quarter. Oppenheimer & Co. Inc. now owns 30,603 shares of the utilities provider's stock worth $1,105,000 after buying an additional 9,503 shares during the last quarter. Brown Advisory Inc. lifted its stake in shares of PPL by 13.7% in the first quarter. Brown Advisory Inc. now owns 9,748 shares of the utilities provider's stock valued at $352,000 after buying an additional 1,175 shares in the last quarter. Finally, Heartland Bank & Trust Co bought a new position in shares of PPL in the first quarter valued at $992,000. 76.99% of the stock is owned by institutional investors.

PPL Stock Down 1.5%

Shares of PPL stock traded down $0.53 on Friday, hitting $35.97. The stock had a trading volume of 4,089,003 shares, compared to its average volume of 6,891,858. The business has a 50 day moving average of $35.81 and a 200 day moving average of $35.13. The stock has a market cap of $26.60 billion, a price-to-earnings ratio of 26.84, a price-to-earnings-growth ratio of 2.58 and a beta of 0.65. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.59 and a quick ratio of 0.49. 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 announced 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). PPL had a net margin of 11.22% and a return on equity of 8.81%. The firm had revenue of $2.03 billion during the quarter, compared to analysts' expectations of $1.99 billion. During the same quarter in the prior year, the company earned $0.38 EPS. The business's revenue for the quarter was up 7.7% on a year-over-year basis. PPL has set its FY 2025 guidance at 1.750-1.870 EPS. As a group, analysts expect that PPL Corporation will post 1.83 EPS for the current year.

PPL Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Wednesday, September 10th will be issued a dividend of $0.2725 per share. This represents a $1.09 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Wednesday, September 10th. PPL's dividend payout ratio (DPR) is 81.34%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Wall Street Zen lowered shares of PPL from a "hold" rating to a "sell" rating in a research note on Friday. Morgan Stanley reaffirmed an "overweight" rating on shares of PPL in a research note on Thursday, August 21st. Finally, Barclays raised shares of PPL from a "hold" rating to a "strong-buy" rating in a research note 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 given a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $36.70.

Insider Transactions at PPL

In related news, COO David J. Bonenberger sold 2,165 shares of the firm's stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $35.86, for a total transaction of $77,636.90. Following the completion of the sale, the chief operating officer owned 45,560 shares in the company, valued at approximately $1,633,781.60. This trade represents a 4.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.22% of the company's stock.

PPL Company Profile

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.