Victory Capital Management Inc. Boosts Stock Holdings in PPL Corporation (NYSE:PPL)

Victory Capital Management Inc. raised its holdings in PPL Corporation (NYSE:PPL - Free Report) by 2.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,310,536 shares of the utilities provider's stock after purchasing an additional 27,614 shares during the period. Victory Capital Management Inc. owned 0.18% of PPL worth $47,323,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Summit Securities Group LLC purchased a new position in PPL in the 4th quarter worth approximately $26,000. Pinnacle Bancorp Inc. lifted its holdings in shares of PPL by 141.0% in the 1st quarter. Pinnacle Bancorp Inc. now owns 723 shares of the utilities provider's stock worth $26,000 after acquiring an additional 423 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of PPL by 94.3% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 818 shares of the utilities provider's stock worth $30,000 after acquiring an additional 397 shares during the last quarter. Lee Danner & Bass Inc. bought a new stake in shares of PPL in the 4th quarter worth approximately $32,000. Finally, TruNorth Capital Management LLC bought a new stake in shares of PPL in the 1st quarter worth approximately $32,000. Hedge funds and other institutional investors own 76.99% of the company's stock.

PPL Stock Performance

PPL opened at $35.98 on Friday. PPL Corporation has a 52-week low of $28.62 and a 52-week high of $36.70. The company has a quick ratio of 0.68, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. The company has a market cap of $26.60 billion, a P/E ratio of 26.65, a price-to-earnings-growth ratio of 2.65 and a beta of 0.64. The firm's 50-day moving average price is $34.22 and its 200-day moving average price is $34.34.

PPL (NYSE:PPL - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $0.60 EPS for the quarter, topping the consensus estimate of $0.53 by $0.07. PPL had a return on equity of 9.14% and a net margin of 11.49%. The business had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.15 billion. During the same quarter in the prior year, the firm posted $0.54 EPS. The business's quarterly revenue was up 8.7% compared to the same quarter last year. As a group, equities analysts anticipate that PPL Corporation will post 1.83 EPS for the current fiscal year.

PPL Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Tuesday, June 10th were issued a $0.2725 dividend. This represents a $1.09 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date was Tuesday, June 10th. PPL's dividend payout ratio (DPR) is 80.74%.

Wall Street Analyst Weigh In

PPL has been the subject of a number of recent analyst reports. Guggenheim upped their price target on shares of PPL from $38.00 to $40.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Barclays raised shares of PPL from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 7th. Wall Street Zen raised shares of PPL from a "sell" rating to a "hold" rating in a research report on Friday, May 9th. Finally, Morgan Stanley reduced their price objective on shares of PPL from $38.00 to $37.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 18th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $36.70.

Insider Transactions at PPL

In other PPL news, COO David J. Bonenberger sold 1,767 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $34.98, for a total value of $61,809.66. Following the completion of the sale, the chief operating officer owned 45,485 shares in the company, valued at approximately $1,591,065.30. The trade was a 3.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.28% of the stock is owned by company insiders.

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.

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