Dynamic Technology Lab Private Ltd Sells 1,985 Shares of PPL Co. (NYSE:PPL)

Dynamic Technology Lab Private Ltd decreased its position in PPL Co. (NYSE:PPL) by 8.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 22,204 shares of the utilities provider’s stock after selling 1,985 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in PPL were worth $735,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Daiwa Securities Group Inc. increased its position in shares of PPL by 16.4% during the third quarter. Daiwa Securities Group Inc. now owns 110,824 shares of the utilities provider’s stock valued at $3,666,000 after acquiring an additional 15,576 shares during the last quarter. Wescott Financial Advisory Group LLC bought a new position in PPL in the 3rd quarter valued at $230,000. Kingsview Wealth Management LLC increased its position in shares of PPL by 2.6% during the 3rd quarter. Kingsview Wealth Management LLC now owns 26,712 shares of the utilities provider’s stock valued at $884,000 after purchasing an additional 672 shares during the last quarter. Cerity Partners LLC raised its stake in shares of PPL by 43.1% during the 3rd quarter. Cerity Partners LLC now owns 36,788 shares of the utilities provider’s stock worth $1,217,000 after purchasing an additional 11,089 shares during the period. Finally, Great Valley Advisor Group Inc. boosted its holdings in shares of PPL by 1.7% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 17,696 shares of the utilities provider’s stock worth $585,000 after buying an additional 301 shares during the last quarter. Hedge funds and other institutional investors own 76.99% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on PPL shares. Jefferies Financial Group assumed coverage on shares of PPL in a report on Thursday, September 19th. They set a “buy” rating and a $38.00 price objective for the company. Morgan Stanley lifted their price target on shares of PPL from $31.00 to $33.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Bank of America upped their price objective on PPL from $34.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Wells Fargo & Company raised their target price on PPL from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Finally, JPMorgan Chase & Co. assumed coverage on PPL in a research report on Friday, October 25th. They set an “overweight” rating and a $37.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $35.50.

PPL Stock Performance

NYSE:PPL opened at $35.00 on Friday. PPL Co. has a 52-week low of $25.35 and a 52-week high of $35.14. The business’s fifty day moving average is $32.95 and its 200 day moving average is $30.82. 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 firm has a market cap of $25.83 billion, a price-to-earnings ratio of 31.25, a PEG ratio of 2.97 and a beta of 0.81.

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

PPL Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Tuesday, December 10th will be issued a $0.2575 dividend. This represents a $1.03 annualized dividend and a yield of 2.94%. The ex-dividend date of this dividend is Tuesday, December 10th. PPL’s payout ratio is 91.96%.

Insider Activity

In other PPL news, insider John R. Crockett III sold 9,161 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $34.35, for a total value of $314,680.35. Following the sale, the insider now owns 12,434 shares of the company’s stock, valued at $427,107.90. This trade represents a 42.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.22% of the company’s stock.

About PPL

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.