PPL Co. (PPL:NYE) experienced a significant decrease in its stake from Bank Julius Baer & Co. Ltd Zurich in the fourth quarter of 2022, according to the Securities and Exchange Commission. The bank decreased its holding by 60.1%, selling 40,139 PPL stock shares and ending up with 26,680 shares worth $780,000.
Other institutional investors, such as Xponance Inc. and Center for Asset Management LLC, have also modified their holdings in PPL, with Xponance increasing its stake by 20.2%, owning 91,423 shares valued at $2,671,000 after buying 15,337 shares in the last quarter.
Center for Asset Management LLC increased its holdings by 6.7% to 15,117 shares worth $442,000, while Ceredex Value Advisors LLC increased its position in PPL by 16.2% to 4,757,997 shares worth $140,120,000.
DAVENPORT & Co LLC bought an additional 3,459 shares to own 65,736 shares worth $1,921,000, while Vestmark Advisory Solutions Inc. bought 599 more shares to increase its holdings to 36,773 shares worth $1,075,000.
Institutional investors hold 70.02% of PPL stock.
PPL Stock Price Analysis:
PPL stock opened at $27.58 on the NYSE on Tuesday, with a 52-week high of $31.74 and a 52-week low of $23.47. The stock has a market capitalization of $20.32 billion, a price-to-earnings ratio of 26.78, and a beta of 0.77.
Research analysts predicts that the company will achieve a consensus price target of $31.64, with an average rating of “Strong Buy” from Stock Target Advisor.
Quarterly Earnings Review:
The utilities provider’s most recent earnings data, released on February 17th, showed revenue of $2.29 billion, meeting analysts’ consensus estimates, and EPS of $0.28, the same as estimates.
During the same quarter in the previous year, PPL had posted EPS of $0.22. For the current year, PPL’s EPS is predicted to reach 1.59. PPL’s most recent quarterly dividend was $0.24 per share, up from its previous quarterly dividend of $0.23, paid to investors on April 3rd.
