Galvin Gaustad & Stein LLC Trims Stake in PPL Co. (NYSE:PPL)

Galvin Gaustad & Stein LLC reduced its position in shares of PPL Co. (NYSE:PPL) by 2.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 532,824 shares of the utilities provider’s stock after selling 14,158 shares during the quarter. PPL comprises about 1.5% of Galvin Gaustad & Stein LLC’s portfolio, making the stock its 26th biggest position. Galvin Gaustad & Stein LLC owned 0.07% of PPL worth $17,295,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Fortitude Family Office LLC increased its holdings in shares of PPL by 195.5% in the 3rd quarter. Fortitude Family Office LLC now owns 780 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 516 shares during the period. Ashton Thomas Securities LLC purchased a new position in shares of PPL in the 3rd quarter valued at $34,000. Rosenberg Matthew Hamilton increased its holdings in shares of PPL by 1,092.2% in the 4th quarter. Rosenberg Matthew Hamilton now owns 1,216 shares of the utilities provider’s stock valued at $39,000 after acquiring an additional 1,114 shares during the period. Covestor Ltd increased its holdings in shares of PPL by 139.2% in the 3rd quarter. Covestor Ltd now owns 1,512 shares of the utilities provider’s stock valued at $50,000 after acquiring an additional 880 shares during the period. Finally, McClarren Financial Advisors Inc. increased its holdings in shares of PPL by 5,759.3% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 1,582 shares of the utilities provider’s stock valued at $52,000 after acquiring an additional 1,555 shares during the period. 76.99% of the stock is currently owned by hedge funds and other institutional investors.

PPL Stock Performance

Shares of PPL opened at $32.74 on Thursday. The stock has a 50-day moving average of $33.06 and a two-hundred day moving average of $31.99. PPL Co. has a one year low of $25.35 and a one year high of $35.15. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.07 and a current ratio of 1.29. The stock has a market cap of $24.16 billion, a P/E ratio of 29.23, a P/E/G ratio of 2.71 and a beta of 0.83.

PPL (NYSE:PPL) last issued its quarterly earnings data on Friday, November 1st. The utilities provider reported $0.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.42. The business had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.10 billion. PPL had a return on equity of 9.20% and a net margin of 9.95%. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.43 EPS. As a group, research analysts predict that PPL Co. will post 1.72 EPS for the current year.

PPL Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Tuesday, December 10th were issued a $0.2575 dividend. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $1.03 annualized dividend and a dividend yield of 3.15%. PPL’s dividend payout ratio (DPR) is presently 91.97%.

Insider Activity

In related news, SVP Tadd J. Henninger sold 6,639 shares of PPL stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $32.16, for a total value of $213,510.24. Following the completion of the transaction, the senior vice president now owns 11,210 shares in the company, valued at $360,513.60. The trade was a 37.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John R. Crockett III sold 9,161 shares of PPL stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $34.35, for a total value of $314,680.35. Following the completion of the transaction, the insider now owns 12,434 shares of the company’s stock, valued at approximately $427,107.90. This represents a 42.42 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.22% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Citigroup lifted their price target on PPL from $31.00 to $36.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. Bank of America boosted their target price on PPL from $34.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. JPMorgan Chase & Co. started coverage on PPL in a research note on Friday, October 25th. They set an “overweight” rating and a $37.00 target price on the stock. BMO Capital Markets started coverage on PPL in a research note on Wednesday, December 11th. They set an “outperform” rating and a $36.00 target price on the stock. Finally, Jefferies Financial Group dropped their target price on PPL from $39.00 to $38.00 and set a “buy” rating on the stock in a research note on Tuesday, December 17th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, PPL currently has an average rating of “Moderate Buy” and an average target price of $34.00.

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.