PPL Corporation $PPL Shares Sold by Glenmede Trust Co. NA

Glenmede Trust Co. NA trimmed its stake in shares of PPL Corporation (NYSE:PPL) by 22.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 144,351 shares of the utilities provider’s stock after selling 40,918 shares during the period. Glenmede Trust Co. NA’s holdings in PPL were worth $5,514,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Empowered Funds LLC grew its position in shares of PPL by 39.5% in the first quarter. Empowered Funds LLC now owns 19,166 shares of the utilities provider’s stock valued at $692,000 after purchasing an additional 5,428 shares in the last quarter. Woodline Partners LP lifted its position in PPL by 40.7% in the first quarter. Woodline Partners LP now owns 62,375 shares of the utilities provider’s stock valued at $2,252,000 after buying an additional 18,057 shares during the last quarter. Focus Partners Wealth raised its position in PPL by 13.0% in the first quarter. Focus Partners Wealth now owns 26,861 shares of the utilities provider’s stock valued at $971,000 after purchasing an additional 3,084 shares during the period. EverSource Wealth Advisors LLC increased its stake in PPL by 64.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,695 shares of the utilities provider’s stock worth $159,000 after buying an additional 1,848 shares during the period. Finally, Cary Street Partners Financial LLC increased its stake in shares of PPL by 6.9% during the second quarter. Cary Street Partners Financial LLC now owns 5,299 shares of the utilities provider’s stock worth $180,000 after buying an additional 343 shares during the period. 76.99% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO Ashley F. Johnson sold 34,993 shares of the company’s stock in a transaction on Thursday, July 23rd. The shares were sold at an average price of $22.08, for a total value of $772,645.44. Following the completion of the transaction, the chief financial officer directly owned 561,482 shares in the company, valued at approximately $12,397,522.56. This represents a 5.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kristen Robinson sold 37,107 shares of the company’s stock in a transaction dated Wednesday, July 15th. The shares were sold at an average price of $25.05, for a total transaction of $929,530.35. Following the completion of the transaction, the director directly owned 222,897 shares of the company’s stock, valued at approximately $5,583,569.85. The trade was a 14.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.34% of the stock is owned by corporate insiders.

PPL Stock Up 0.0%

Shares of NYSE:PPL opened at $35.22 on Tuesday. The stock has a 50-day simple moving average of $35.87 and a 200-day simple moving average of $36.87. The stock has a market capitalization of $26.49 billion, a P/E ratio of 21.47, a PEG ratio of 2.41 and a beta of 0.57. PPL Corporation has a 1 year low of $33.17 and a 1 year high of $40.10. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.88 and a current ratio of 1.00.

PPL (NYSE:PPL) last announced its quarterly earnings results on Friday, May 8th. The utilities provider reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. PPL had a net margin of 13.09% and a return on equity of 9.41%. The firm had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.51 billion. During the same period in the previous year, the company posted $0.60 earnings per share. PPL’s revenue was up 10.8% compared to the same quarter last year. Equities analysts forecast that PPL Corporation will post 1.94 earnings per share for the current year.

PPL Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Wednesday, June 10th were given a dividend of $0.285 per share. The ex-dividend date of this dividend was Wednesday, June 10th. This represents a $1.14 annualized dividend and a yield of 3.2%. PPL’s payout ratio is 69.51%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on PPL shares. Morgan Stanley reissued an “overweight” rating on shares of PPL in a research report on Wednesday, July 22nd. BTIG Research reissued a “buy” rating on shares of PPL in a report on Thursday, June 4th. BMO Capital Markets boosted their price objective on shares of PPL from $39.00 to $40.00 and gave the company an “outperform” rating in a research note on Wednesday, July 22nd. Mizuho raised PPL to a “hold” rating in a report on Friday, July 3rd. Finally, Jefferies Financial Group raised their price target on PPL from $40.00 to $48.00 and gave the company a “buy” rating in a report on Monday, April 13th. Ten investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $41.67.

PPL Company Profile

PPL Corporation is an energy company that owns and operates electric transmission and distribution infrastructure and provides related customer services. The company’s core business centers on delivering electricity to residential, commercial and industrial customers through regulated utility operations, maintaining grid reliability, responding to outages and managing customer billing and account services.

PPL’s activities include construction and maintenance of distribution and transmission lines, meter and grid management, and programs to support energy efficiency and the interconnection of distributed resources.