Howe & Rusling Inc. Sells 1,500 Shares of PPL Co. (NYSE:PPL)

Howe & Rusling Inc. lessened its holdings in PPL Co. (NYSE:PPL) by 8.3% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 16,475 shares of the utilities provider’s stock after selling 1,500 shares during the period. Howe & Rusling Inc.’s holdings in PPL were worth $535,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Cerity Partners LLC raised its stake in PPL by 43.1% during the 3rd quarter. Cerity Partners LLC now owns 36,788 shares of the utilities provider’s stock valued at $1,217,000 after purchasing an additional 11,089 shares during the period. Daiwa Securities Group Inc. raised 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 buying an additional 15,576 shares during the last quarter. D.A. Davidson & CO. lifted its holdings in shares of PPL by 5.0% in the third quarter. D.A. Davidson & CO. now owns 21,931 shares of the utilities provider’s stock worth $725,000 after buying an additional 1,052 shares in the last quarter. Brooklyn Investment Group purchased a new position in shares of PPL in the third quarter worth $75,000. Finally, Glenmede Trust Co. NA boosted its position in shares of PPL by 109.3% during the third quarter. Glenmede Trust Co. NA now owns 121,046 shares of the utilities provider’s stock worth $4,004,000 after acquiring an additional 63,218 shares during the last quarter. 76.99% of the stock is currently owned by hedge funds and other institutional investors.

PPL Price Performance

PPL stock opened at $35.03 on Friday. The stock has a market cap of $25.86 billion, a PE ratio of 28.95, a P/E/G ratio of 2.77 and a beta of 0.76. PPL Co. has a 12 month low of $25.93 and a 12 month high of $35.91. The company has a 50-day moving average price of $34.18 and a 200 day moving average price of $33.26. The company has a current ratio of 0.86, a quick ratio of 0.71 and a debt-to-equity ratio of 1.13.

PPL (NYSE:PPL) last announced its earnings results on Thursday, February 13th. The utilities provider reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.03). PPL had a net margin of 10.49% and a return on equity of 8.88%. The business had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.09 billion. Equities research analysts anticipate that PPL Co. will post 1.83 earnings per share for the current year.

PPL Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be paid a $0.2725 dividend. This is a positive change from PPL’s previous quarterly dividend of $0.26. The ex-dividend date is Monday, March 10th. This represents a $1.09 dividend on an annualized basis and a yield of 3.11%. PPL’s dividend payout ratio (DPR) is presently 90.08%.

Wall Street Analyst Weigh In

Several brokerages have commented on PPL. UBS Group boosted their price target on shares of PPL from $35.00 to $36.00 and gave the stock a “neutral” rating in a research note on Friday, March 21st. Citigroup upgraded PPL from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 10th. Barclays raised their price target on PPL from $33.00 to $36.00 and gave the company an “equal weight” rating in a report on Tuesday, February 25th. Jefferies Financial Group decreased their price objective on PPL from $39.00 to $38.00 and set a “buy” rating on the stock in a report on Tuesday, December 17th. Finally, BMO Capital Markets started coverage on shares of PPL in a research report on Wednesday, December 11th. They issued an “outperform” rating and a $36.00 price target on the stock. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, PPL currently has a consensus rating of “Moderate Buy” and an average target price of $35.27.

Insider Transactions at PPL

In related news, insider Christine M. Martin sold 1,146 shares of PPL stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $34.78, for a total transaction of $39,857.88. Following the completion of the sale, the insider now owns 37,167 shares in the company, valued at $1,292,668.26. This trade represents a 2.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO David J. Bonenberger sold 981 shares of the company’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $33.48, for a total transaction of $32,843.88. Following the completion of the transaction, the chief operating officer now owns 45,414 shares in the company, valued at $1,520,460.72. This represents a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,140 shares of company stock worth $173,005. 0.22% of the stock is currently owned by insiders.

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.