Wells Fargo & Company MN Acquires 389,800 Shares of PPL Corp (PPL)

Wells Fargo & Company MN grew its holdings in PPL Corp (NYSE:PPL) by 4.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,546,957 shares of the utilities provider’s stock after purchasing an additional 389,800 shares during the period. Wells Fargo & Company MN owned about 1.24% of PPL worth $264,528,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Prudential Financial Inc. raised its holdings in shares of PPL by 16.5% in the third quarter. Prudential Financial Inc. now owns 5,030,604 shares of the utilities provider’s stock valued at $190,912,000 after purchasing an additional 714,250 shares during the last quarter. Swiss National Bank raised its holdings in shares of PPL by 0.7% in the fourth quarter. Swiss National Bank now owns 2,762,947 shares of the utilities provider’s stock valued at $85,513,000 after purchasing an additional 19,400 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of PPL by 41.9% in the fourth quarter. Bank of Montreal Can now owns 2,654,343 shares of the utilities provider’s stock valued at $82,152,000 after purchasing an additional 783,951 shares during the last quarter. Boston Partners acquired a new stake in shares of PPL in the fourth quarter valued at approximately $81,658,000. Finally, Thompson Siegel & Walmsley LLC raised its holdings in shares of PPL by 2.3% in the third quarter. Thompson Siegel & Walmsley LLC now owns 2,632,511 shares of the utilities provider’s stock valued at $99,904,000 after purchasing an additional 60,397 shares during the last quarter. Institutional investors own 70.50% of the company’s stock.

PPL Corp (NYSE PPL) opened at $31.45 on Friday. The company has a current ratio of 0.56, a quick ratio of 0.48 and a debt-to-equity ratio of 1.79. PPL Corp has a 52-week low of $29.20 and a 52-week high of $40.20. The company has a market cap of $21,411.24, a price-to-earnings ratio of 14.23, a price-to-earnings-growth ratio of 1.91 and a beta of 0.45.

In other PPL news, SVP Joanne H. Raphael sold 5,045 shares of PPL stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $31.60, for a total transaction of $159,422.00. Following the completion of the transaction, the senior vice president now directly owns 24,080 shares of the company’s stock, valued at $760,928. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Gregory N. Dudkin sold 9,320 shares of PPL stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $31.67, for a total transaction of $295,164.40. Following the transaction, the insider now directly owns 25,940 shares of the company’s stock, valued at $821,519.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 44,163 shares of company stock valued at $1,395,587. Company insiders own 0.40% of the company’s stock.

A number of equities analysts recently weighed in on the stock. KeyCorp restated a “hold” rating on shares of PPL in a report on Friday, October 20th. Canaccord Genuity restated a “buy” rating and set a $48.00 target price on shares of PPL in a report on Thursday, November 30th. Zacks Investment Research upgraded shares of PPL from a “hold” rating to a “buy” rating and set a $39.00 target price on the stock in a report on Tuesday, December 12th. Macquarie downgraded shares of PPL from a “neutral” rating to an “underperform” rating and set a $30.00 target price on the stock. in a report on Tuesday, December 19th. Finally, TheStreet downgraded shares of PPL from a “b-” rating to a “c+” rating in a report on Thursday, January 18th. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $37.95.

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PPL Company Profile

PPL Corporation (PPL) is a utility holding company. Through its subsidiaries, PPL delivers electricity to customers in the United Kingdom, Pennsylvania, Kentucky, Virginia and Tennessee; delivers natural gas to customers in Kentucky, and generates electricity from power plants in Kentucky. PPL operates through U.K.

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Institutional Ownership by Quarter for PPL (NYSE:PPL)

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