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John R. Crockett III, President of a PPL Corp (NYSE:PPL) subsidiary, recently sold 1,589 shares of the company’s common stock for approximately $52,627. The transaction, executed under a pre-arranged 10b5-1 plan, took place on January 27, 2025, at a price of $33.12 per share. Following this sale, Crockett holds 10,844.75 shares directly. According to InvestingPro data, PPL, with a market capitalization of $24.2 billion, currently trades near its 52-week high of $35.15 and maintains a "GOOD" overall financial health score.
Additionally, Crockett acquired 5,910.765 shares through the exercise of stock units under the company’s Stock Incentive Plan, with the transaction valued at $198,069 at a price of $33.51 per share. This acquisition was part of a larger transaction involving the reinvestment of dividends. To cover tax obligations associated with this transaction, 2,015 shares were withheld by the company, valued at $67,522. InvestingPro analysis reveals PPL has maintained dividend payments for 54 consecutive years, with a current yield of 3.14% and recent dividend growth of 7.29%.
These transactions reflect Crockett’s ongoing management of his equity position in PPL Corp, a prominent player in the electric services industry. The stock has demonstrated low price volatility, as noted in InvestingPro analysis, which offers 6 additional key insights about PPL’s investment potential.
In other recent news, PPL Corporation has undergone significant changes in its executive team. The company announced the departure of Francis X. Sullivan, its Executive Vice President and Chief Operating Officer, as part of a broader reallocation of duties among senior executives. This strategic move is expected to streamline operations and enhance management efficiency within the organization.
In the wake of Sullivan’s departure, veterans David J. Bonenberger and Lonnie Bellar will assume expanded leadership roles. PPL Corp has reported narrowed ongoing earnings for 2024, with GAAP earnings of $0.29 per share, and ongoing earnings of $0.42 per share. The company is also on track to complete infrastructure improvements worth approximately $3.1 billion.
Several analyst firms have adjusted their outlooks on PPL Corp. Jefferies maintains a Buy recommendation, while Citi and BMO Capital Markets retain a Neutral and Outperform rating respectively. These recent developments reflect PPL Corp’s strategic focus on significant infrastructure investments and maintaining a strong balance sheet. The company expects 6% to 8% annual growth in earnings per share and dividends through at least 2027.
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