PPL Corporation (NYSE:PPL) Shares Sold by Pacer Advisors Inc.

Key Points

• Pacer Advisors Inc. has reduced its holdings in PPL Corporation by 28.2%, owning 86,062 shares after selling 33,830 shares in the first quarter.
• Multiple institutions have increased their stakes in PPL recently, with 76.99% of the stock currently owned by institutional investors and hedge funds.
• PPL's stock has received favorable ratings from analysts, with a current consensus rating of "Buy" and a predicted price target increase from $38 to $40 by Guggenheim.

Pacer Advisors Inc. decreased its holdings in shares of PPL Corporation (NYSE:PPL - Free Report) by 28.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 86,062 shares of the utilities provider's stock after selling 33,830 shares during the quarter. Pacer Advisors Inc.'s holdings in PPL were worth $3,108,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of PPL. Summit Securities Group LLC purchased a new position in shares of PPL during the fourth quarter worth $26,000. Pinnacle Bancorp Inc. boosted its position in shares of PPL by 141.0% during the first quarter. Pinnacle Bancorp Inc. now owns 723 shares of the utilities provider's stock worth $26,000 after buying an additional 423 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its position in shares of PPL by 94.3% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 818 shares of the utilities provider's stock worth $30,000 after buying an additional 397 shares during the period. TruNorth Capital Management LLC purchased a new position in shares of PPL during the first quarter worth $32,000. Finally, HM Payson & Co. boosted its position in shares of PPL by 1,057.6% during the first quarter. HM Payson & Co. now owns 984 shares of the utilities provider's stock worth $36,000 after buying an additional 899 shares during the period. 76.99% of the stock is currently owned by hedge funds and other institutional investors.

PPL Stock Up 0.5%

NYSE PPL traded up $0.18 during trading on Friday, reaching $35.87. 1,973,793 shares of the company's stock were exchanged, compared to its average volume of 5,394,969. The stock has a market cap of $26.52 billion, a P/E ratio of 26.55, a price-to-earnings-growth ratio of 2.59 and a beta of 0.64. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.68 and a current ratio of 0.81. The company has a 50 day moving average price of $34.55 and a two-hundred day moving average price of $34.59. PPL Corporation has a 1 year low of $29.97 and a 1 year high of $36.99.

PPL (NYSE:PPL - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.32 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.37 by ($0.05). The business had revenue of $2.03 billion for the quarter, compared to analysts' expectations of $1.99 billion. PPL had a return on equity of 9.14% and a net margin of 11.49%. The firm's quarterly revenue was up 7.7% on a year-over-year basis. During the same period last year, the firm earned $0.38 earnings per share. On average, equities research analysts anticipate that PPL Corporation will post 1.83 EPS for the current fiscal year.

PPL Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 10th were 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 of this dividend was Tuesday, June 10th. PPL's payout ratio is 80.74%.

Insider Transactions at PPL

In other news, COO David J. Bonenberger sold 2,165 shares of PPL stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $35.86, for a total transaction of $77,636.90. Following the sale, the chief operating officer owned 45,560 shares in the company, valued at approximately $1,633,781.60. The trade was a 4.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.28% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

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

PPL 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.