PPL Co. (NYSE:PPL) Shares Sold by Galvin Gaustad & Stein LLC

Galvin Gaustad & Stein LLC lessened its stake in PPL Co. (NYSE:PPL) by 5.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 546,982 shares of the utilities provider’s stock after selling 32,020 shares during the quarter. PPL comprises approximately 1.6% of Galvin Gaustad & Stein LLC’s holdings, making the stock its 24th biggest holding. Galvin Gaustad & Stein LLC owned approximately 0.07% of PPL worth $18,094,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Fortitude Family Office LLC increased its position 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 worth $26,000 after purchasing an additional 516 shares during the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of PPL in the 2nd quarter valued at about $29,000. Redwood Wealth Management Group LLC acquired a new position in PPL during the 2nd quarter valued at about $29,000. Lynx Investment Advisory acquired a new stake in shares of PPL in the 2nd quarter worth approximately $38,000. Finally, Family Firm Inc. acquired a new stake in shares of PPL in the 2nd quarter worth approximately $38,000. Institutional investors and hedge funds own 76.99% of the company’s stock.

PPL Price Performance

Shares of PPL stock opened at $33.06 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.29 and a debt-to-equity ratio of 1.17. The company has a market cap of $24.40 billion, a PE ratio of 29.52, a P/E/G ratio of 2.78 and a beta of 0.81. The business has a 50 day moving average of $32.40 and a 200 day moving average of $30.21. PPL Co. has a 52 week low of $24.93 and a 52 week high of $33.38.

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

PPL Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 10th were issued a $0.2575 dividend. The ex-dividend date was Tuesday, September 10th. This represents a $1.03 dividend on an annualized basis and a yield of 3.12%. PPL’s dividend payout ratio (DPR) is 91.97%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Jefferies Financial Group started coverage on shares of PPL in a report on Thursday, September 19th. They set a “buy” rating and a $38.00 price target on the stock. Wells Fargo & Company upped their price objective on shares of PPL from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. JPMorgan Chase & Co. began coverage on shares of PPL in a report on Friday, October 25th. They set an “overweight” rating and a $37.00 price objective on the stock. Bank of America raised their target price on shares of PPL from $34.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Finally, Barclays lifted their price objective on shares of PPL from $30.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, PPL presently has an average rating of “Moderate Buy” and an average target price of $35.50.

PPL 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.