Rothschild Investment Corp IL Has $1.05 Million Stake in PPL Corp (NYSE:PPL)
Rothschild Investment Corp IL grew its holdings in PPL Corp (NYSE:PPL) by 16.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,700 shares of the utilities provider’s stock after purchasing an additional 4,800 shares during the period. Rothschild Investment Corp IL’s holdings in PPL were worth $1,045,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of PPL. Norges Bank acquired a new position in shares of PPL in the 4th quarter valued at about $152,444,000. LSV Asset Management increased its holdings in shares of PPL by 428.5% in the 1st quarter. LSV Asset Management now owns 1,674,000 shares of the utilities provider’s stock valued at $53,132,000 after purchasing an additional 1,357,246 shares during the period. Geode Capital Management LLC increased its holdings in shares of PPL by 12.2% in the 4th quarter. Geode Capital Management LLC now owns 10,366,038 shares of the utilities provider’s stock valued at $293,399,000 after purchasing an additional 1,129,588 shares during the period. Janus Henderson Group PLC increased its holdings in shares of PPL by 17.2% in the 1st quarter. Janus Henderson Group PLC now owns 5,518,786 shares of the utilities provider’s stock valued at $175,178,000 after purchasing an additional 808,535 shares during the period. Finally, California Public Employees Retirement System increased its holdings in shares of PPL by 20.4% in the 1st quarter. California Public Employees Retirement System now owns 4,330,832 shares of the utilities provider’s stock valued at $137,461,000 after purchasing an additional 734,286 shares during the period. Institutional investors own 72.87% of the company’s stock.
PPL has been the topic of a number of research reports. Mizuho downgraded Cypress Semiconductor from a “buy” rating to a “neutral” rating and upped their target price for the company from $18.00 to $23.85 in a report on Monday, June 3rd. UBS Group set a $25.00 price target on Macy’s and gave the company a “hold” rating in a research note on Friday, May 17th. Zacks Investment Research raised Falcon Minerals from a “sell” rating to a “hold” rating in a research note on Monday, July 22nd. Finally, Raymond James reissued an “average” rating on shares of PPL in a research note on Monday, May 6th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the company. PPL has an average rating of “Hold” and an average target price of $33.90.
PPL (NYSE:PPL) last announced its earnings results on Thursday, May 2nd. The utilities provider reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.03). The company had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.19 billion. PPL had a return on equity of 14.52% and a net margin of 23.79%. The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.74 EPS. Equities research analysts anticipate that PPL Corp will post 2.42 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 10th were given a dividend of $0.4125 per share. The ex-dividend date was Friday, June 7th. This represents a $1.65 dividend on an annualized basis and a yield of 5.49%. PPL’s payout ratio is currently 68.75%.
In other PPL news, insider Philip Swift sold 3,782 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $30.26, for a total transaction of $114,443.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.34% of the stock is owned by corporate insiders.
PPL Company Profile
PPL Corporation, a utility holding company, delivers electricity and natural gas in the United States and the United Kingdom. The company operates through three segments: U.K. Regulated, Kentucky Regulated, and Pennsylvania Regulated. It serves approximately 414,000 electric and 328,000 natural gas customers in Louisville and adjacent areas in Kentucky; 527,000 electric customers in central, southeastern, and western Kentucky; and 28,000 electric customers in 5 counties in southwestern Virginia.
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