Nuveen Asset Management LLC Sells 324,464 Shares of PPL Co. (NYSE:PPL)

Nuveen Asset Management LLC decreased its stake in shares of PPL Co. (NYSE:PPL - Free Report) by 17.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,545,800 shares of the utilities provider's stock after selling 324,464 shares during the period. Nuveen Asset Management LLC owned about 0.21% of PPL worth $50,177,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Summit Securities Group LLC bought a new position in PPL in the fourth quarter worth approximately $26,000. Kentucky Trust Co purchased a new position in PPL during the fourth quarter valued at $32,000. Lee Danner & Bass Inc. purchased a new position in PPL during the fourth quarter valued at $32,000. Larson Financial Group LLC grew its stake in PPL by 84.5% during the fourth quarter. Larson Financial Group LLC now owns 1,264 shares of the utilities provider's stock valued at $41,000 after acquiring an additional 579 shares in the last quarter. Finally, Newton One Investments LLC purchased a new position in PPL during the fourth quarter valued at $49,000. 76.99% of the stock is currently owned by institutional investors.

PPL Stock Up 0.3%

Shares of PPL stock opened at $34.97 on Tuesday. The firm's 50 day moving average price is $35.20 and its 200-day moving average price is $34.06. The company has a quick ratio of 0.71, a current ratio of 0.86 and a debt-to-equity ratio of 1.13. PPL Co. has a 52-week low of $27.24 and a 52-week high of $36.70. The company has a market cap of $25.85 billion, a P/E ratio of 28.90, a PEG ratio of 2.77 and a beta of 0.70.

PPL (NYSE:PPL - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $0.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.53 by $0.07. The firm had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.15 billion. PPL had a net margin of 10.49% and a return on equity of 8.88%. The company's quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.54 EPS. On average, sell-side analysts predict that PPL Co. will post 1.83 EPS for the current fiscal year.

PPL Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 10th will be given a dividend of $0.2725 per share. This represents a $1.09 annualized dividend and a yield of 3.12%. The ex-dividend date of this dividend is Tuesday, June 10th. PPL's dividend payout ratio is presently 80.74%.

Insider Buying and Selling at PPL

In other PPL news, insider Christine M. Martin sold 1,146 shares of PPL stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $34.78, for a total transaction of $39,857.88. Following the completion of the sale, the insider now directly owns 37,167 shares in the company, valued at approximately $1,292,668.26. The trade was a 2.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.28% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on PPL shares. Citigroup raised shares of PPL from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 10th. Barclays raised their target price on shares of PPL from $33.00 to $36.00 and gave the stock an "equal weight" rating in a report on Tuesday, February 25th. Guggenheim lifted their price objective on shares of PPL from $38.00 to $40.00 and gave the company a "buy" rating in a report on Thursday, May 1st. UBS Group lifted their price objective on shares of PPL from $35.00 to $36.00 and gave the company a "neutral" rating in a report on Friday, March 21st. Finally, StockNews.com upgraded shares of PPL from a "sell" rating to a "hold" rating in a report on Friday, May 9th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $36.90.

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.

Want to see what other hedge funds are holding PPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PPL Co. (NYSE:PPL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.