Zullo Investment Group Inc. Sells 1,036 Shares of PPL Co. (NYSE:PPL)

Zullo Investment Group Inc. decreased its holdings in PPL Co. (NYSE:PPL) by 4.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,028 shares of the utilities provider’s stock after selling 1,036 shares during the period. Zullo Investment Group Inc.’s holdings in PPL were worth $780,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fortitude Family Office LLC lifted its stake 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 valued at $26,000 after purchasing an additional 516 shares during the last quarter. Kentucky Trust Co purchased a new stake in PPL during the 4th quarter valued at $32,000. Ashton Thomas Securities LLC bought a new stake in PPL in the third quarter worth $34,000. Rosenberg Matthew Hamilton boosted its stake in PPL by 1,092.2% during the fourth quarter. Rosenberg Matthew Hamilton now owns 1,216 shares of the utilities provider’s stock worth $39,000 after buying an additional 1,114 shares during the period. Finally, Newton One Investments LLC bought a new position in PPL during the fourth quarter valued at $49,000. Hedge funds and other institutional investors own 76.99% of the company’s stock.

PPL Stock Performance

Shares of PPL stock opened at $34.38 on Thursday. The company has a current ratio of 0.86, a quick ratio of 0.71 and a debt-to-equity ratio of 1.13. The stock’s fifty day moving average price is $32.93 and its 200-day moving average price is $32.67. The firm has a market cap of $25.38 billion, a P/E ratio of 28.42, a P/E/G ratio of 2.77 and a beta of 0.83. PPL Co. has a 12 month low of $25.87 and a 12 month high of $35.15.

PPL (NYSE:PPL) last posted its earnings results on Thursday, February 13th. The utilities provider reported $0.34 EPS for the quarter, missing analysts’ consensus estimates 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. On average, equities research analysts expect that PPL Co. will post 1.83 earnings per share for the current fiscal year.

PPL Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th will be given a dividend of $0.2725 per share. This represents a $1.09 annualized dividend and a yield of 3.17%. The ex-dividend date is Monday, March 10th. This is a boost from PPL’s previous quarterly dividend of $0.26. PPL’s dividend payout ratio (DPR) is 85.12%.

Insider Activity

In other news, insider John R. Crockett III sold 1,589 shares of the firm’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $33.12, for a total value of $52,627.68. Following the sale, the insider now directly owns 10,845 shares in the company, valued at approximately $359,186.40. This trade represents a 12.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Tadd J. Henninger sold 6,639 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $32.16, for a total transaction of $213,510.24. Following the transaction, the senior vice president now owns 11,210 shares of the company’s stock, valued at approximately $360,513.60. This trade represents a 37.20 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,633 shares of company stock worth $346,657. 0.22% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Jefferies Financial Group lowered their target price on shares of PPL from $39.00 to $38.00 and set a “buy” rating for the company in a report on Tuesday, December 17th. Citigroup boosted their target price on PPL from $31.00 to $36.00 and gave the company a “neutral” rating in a research report on Thursday, December 12th. Bank of America increased their price target on PPL from $34.00 to $35.00 and gave the stock a “buy” rating in a report on Monday, November 4th. BMO Capital Markets assumed coverage on PPL in a report on Wednesday, December 11th. They set an “outperform” rating and a $36.00 price objective for the company. Finally, JPMorgan Chase & Co. initiated coverage on PPL in a research note on Friday, October 25th. They issued an “overweight” rating and a $37.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, PPL has a consensus rating of “Moderate Buy” and a consensus target price of $34.00.

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.