Sterling Capital Management LLC Buys 15,618 Shares of PPL Co. (NYSE:PPL)

Sterling Capital Management LLC raised its stake in PPL Co. (NYSE:PPL - Free Report) by 55.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 43,777 shares of the utilities provider's stock after purchasing an additional 15,618 shares during the period. Sterling Capital Management LLC's holdings in PPL were worth $1,421,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of PPL. Covestor Ltd raised its holdings in PPL by 45.4% in the 4th quarter. Covestor Ltd now owns 2,199 shares of the utilities provider's stock valued at $71,000 after acquiring an additional 687 shares during the period. Treasurer of the State of North Carolina grew its position in shares of PPL by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 324,786 shares of the utilities provider's stock valued at $10,543,000 after purchasing an additional 2,040 shares during the last quarter. Neuberger Berman Group LLC increased its stake in shares of PPL by 16.5% during the fourth quarter. Neuberger Berman Group LLC now owns 35,867 shares of the utilities provider's stock worth $1,164,000 after purchasing an additional 5,072 shares during the period. F M Investments LLC lifted its holdings in PPL by 9.7% during the 4th quarter. F M Investments LLC now owns 247,675 shares of the utilities provider's stock worth $8,040,000 after purchasing an additional 21,847 shares during the last quarter. Finally, Bessemer Group Inc. boosted its stake in PPL by 4.3% in the 4th quarter. Bessemer Group Inc. now owns 14,921 shares of the utilities provider's stock valued at $484,000 after purchasing an additional 614 shares during the period. Institutional investors and hedge funds own 76.99% of the company's stock.

PPL Price Performance

PPL traded up $0.39 during trading on Friday, hitting $35.67. 5,110,918 shares of the stock traded hands, compared to its average volume of 4,827,924. The business has a 50 day moving average price of $34.73 and a 200 day moving average price of $33.57. The company has a market cap of $26.36 billion, a price-to-earnings ratio of 29.48, a PEG ratio of 2.77 and a beta of 0.65. PPL Co. has a twelve month low of $26.79 and a twelve month high of $36.64. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.86 and a quick ratio of 0.71.

PPL (NYSE:PPL - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The utilities provider reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.03). PPL had a return on equity of 8.88% and a net margin of 10.49%. The business had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.09 billion. Equities research analysts forecast that PPL Co. will post 1.83 earnings per share for the current fiscal year.

PPL Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 10th were given a dividend of $0.2725 per share. This represents a $1.09 dividend on an annualized basis and a yield of 3.06%. This is a boost from PPL's previous quarterly dividend of $0.26. The ex-dividend date was Monday, March 10th. PPL's dividend payout ratio is currently 90.08%.

Insider Activity at PPL

In other news, insider John R. Crockett III sold 1,589 shares of the company's stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $33.12, for a total value of $52,627.68. Following the completion of the transaction, the insider now owns 10,845 shares of the company's stock, valued at $359,186.40. This represents a 12.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO David J. Bonenberger sold 981 shares of the firm's stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $33.48, for a total transaction of $32,843.88. Following the completion of the transaction, the chief operating officer now owns 45,414 shares of the company's stock, valued at approximately $1,520,460.72. This trade represents a 2.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,140 shares of company stock valued at $173,005 in the last quarter. Insiders own 0.22% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on PPL. Morgan Stanley increased their price objective on PPL from $35.00 to $38.00 and gave the stock an "overweight" rating in a research report on Thursday, March 20th. Barclays lifted their price objective on shares of PPL from $33.00 to $36.00 and gave the stock an "equal weight" rating in a research note on Tuesday, February 25th. UBS Group increased their target price on shares of PPL from $35.00 to $36.00 and gave the stock a "neutral" rating in a research report on Friday, March 21st. Finally, Citigroup upgraded PPL from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 10th. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $35.70.

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.