Stralem & Co INC Decreased Stake in Ppl Corp Com (NYSE:PPL) by $4.91 Million as Shares Rose


Stralem & Co Inc decreased its stake in Ppl Corp Com (NYSE:PPL) by 13.2% based on its latest 2016Q2 regulatory filing with the SEC. Stralem & Co Inc sold 129,156 shares as the company’s stock rose 13.03% with the market. The institutional investor held 849,097 shares of the central company at the end of 2016Q2, valued at $32.33 million, down from 978,253 at the end of the previous reported quarter. Stralem & Co Inc who had been investing in Ppl Corp Com for a number of months, seems to be less bullish one the $23.33 billion market cap company. The stock is down 1.14% or $0.39 after the negative news, hitting $33.82 per share. About 3.70M shares traded hands. PPL Corp (NYSE:PPL) has declined 4.95% since February 8, 2016 and is downtrending. It has underperformed by 21.43% the S&P500.

Stralem & Co Inc is a New York-based institutional investor with more than $2.29 billion AUM in January, 2015. Taken from Stralem & Co latest Adv, the fund reported to have 16 full and part-time employees. Among which 7 performing investment advisory and research functions. The institutional investor had more than 200 clients.

The institutional sentiment increased to 1.32 in 2016 Q2. Its up 0.05, from 1.27 in 2016Q1. The ratio improved, as 38 funds sold all PPL shares owned while 217 reduced positions. 66 funds bought stakes while 271 increased positions. They now own 459.35 million shares or 3.64% less from 476.71 million shares in 2016Q1.

Breton Hill Capital Ltd. holds 2.26% of its portfolio in PPL for 186,371 shares. United Asset Strategies Inc. owns 147,038 shares or 2.08% of their US portfolio. Moreover, Butensky & Cohen Financial Security Inc has 2.05% invested in the company for 55,467 shares. The Delaware-based Lau Associates Llc has invested 2.03% in the stock. Foyston Gordon & Payne Inc, a Ontario – Canada-based fund reported 287,859 shares.

Out of 8 analysts covering PPL Corporation (NYSE:PPL), 2 rate it a “Buy”, 0 “Sell”, while 6 “Hold”. This means 25% are positive. PPL Corporation has been the topic of 15 analyst reports since September 18, 2015 according to StockzIntelligence Inc. Jefferies maintained the stock on August 10 with “Hold” rating.

PPL Corporation is a utility holding company. The company has a market cap of $23.33 billion. Through its subsidiaries, PPL delivers electricity to clients in the United Kingdom, Pennsylvania, Kentucky, Virginia and Tennessee; delivers natural gas to clients in Kentucky, and generates electricity from power plants in Kentucky. It has a 12.99 P/E ratio. It operates through three divisions: U.K.

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