Rhumbline Advisers boosted its position in shares of PPL Corporation (NYSE:PPL) by 0.7% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 1,173,632 shares of the utilities provider’s stock after buying an additional 8,111 shares during the period. Rhumbline Advisers owned 0.17% of PPL Corporation worth $45,373,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Tompkins Financial Corp boosted its stake in PPL Corporation by 114.3% in the first quarter. Tompkins Financial Corp now owns 3,000 shares of the utilities provider’s stock worth $114,000 after buying an additional 1,600 shares during the period. Kistler Tiffany Companies LLC boosted its stake in PPL Corporation by 0.4% in the first quarter. Kistler Tiffany Companies LLC now owns 4,084 shares of the utilities provider’s stock worth $153,000 after buying an additional 15 shares during the period. Parallel Advisors LLC boosted its stake in PPL Corporation by 6.1% in the first quarter. Parallel Advisors LLC now owns 4,249 shares of the utilities provider’s stock worth $161,000 after buying an additional 243 shares during the period. Focused Wealth Management Inc boosted its stake in PPL Corporation by 352.0% in the first quarter. Focused Wealth Management Inc now owns 4,366 shares of the utilities provider’s stock worth $163,000 after buying an additional 3,400 shares during the period. Finally, SRS Capital Advisors Inc. boosted its stake in PPL Corporation by 0.9% in the first quarter. SRS Capital Advisors Inc. now owns 4,434 shares of the utilities provider’s stock worth $165,000 after buying an additional 38 shares during the period. Institutional investors and hedge funds own 71.05% of the company’s stock.

Shares of PPL Corporation (PPL) opened at 38.49 on Friday. The firm’s 50-day moving average is $38.36 and its 200 day moving average is $37.74. PPL Corporation has a 52 week low of $32.08 and a 52 week high of $40.20. The firm has a market capitalization of $26.40 billion, a PE ratio of 16.11 and a beta of 0.49.

PPL Corporation (NYSE:PPL) last posted its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.02. The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.79 billion. PPL Corporation had a return on equity of 15.96% and a net margin of 22.08%. The company’s revenue was down 3.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.56 earnings per share. On average, equities analysts forecast that PPL Corporation will post $2.15 earnings per share for the current year.

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A number of analysts recently commented on PPL shares. BidaskClub cut shares of PPL Corporation from a “sell” rating to a “strong sell” rating in a research note on Monday, July 31st. Jefferies Group LLC reiterated a “buy” rating and issued a $43.50 target price (up from $42.00) on shares of PPL Corporation in a research note on Wednesday. Goldman Sachs Group, Inc. (The) upgraded shares of PPL Corporation from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $35.00 to $38.00 in a research note on Monday, June 26th. Zacks Investment Research upgraded shares of PPL Corporation from a “hold” rating to a “buy” rating and set a $42.00 target price for the company in a research note on Wednesday, July 12th. Finally, Barclays PLC reiterated an “equal weight” rating and issued a $41.00 target price (up from $38.00) on shares of PPL Corporation in a research note on Sunday, April 23rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $38.72.

In other news, insider Gregory N. Dudkin sold 8,228 shares of the stock in a transaction that occurred on Monday, June 19th. The stock was sold at an average price of $39.55, for a total value of $325,417.40. Following the completion of the sale, the insider now directly owns 39,693 shares of the company’s stock, valued at $1,569,858.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Joseph P. Bergstein, Jr. sold 2,929 shares of the stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $38.55, for a total value of $112,912.95. The disclosure for this sale can be found here. Insiders sold 19,740 shares of company stock valued at $773,067 over the last three months. Corporate insiders own 0.42% of the company’s stock.

About PPL Corporation

PPL Corporation (PPL) is a utility holding company. Through its subsidiaries, PPL delivers electricity to customers in the United Kingdom, Pennsylvania, Kentucky, Virginia and Tennessee; delivers natural gas to customers in Kentucky, and generates electricity from power plants in Kentucky. PPL operates through U.K.

Institutional Ownership by Quarter for PPL Corporation (NYSE:PPL)

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