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PPL Corp (NYSE:PPL), a utility company with a market capitalization of $24.2 billion and a solid "GOOD" InvestingPro Financial Health score, saw its Senior Vice President of Finance and Treasurer, Tadd J. Henninger, recently execute several stock transactions, according to a recent filing. On January 28, Henninger sold 1,424 shares of PPL Corp common stock, generating proceeds of approximately $47,675 at a price of $33.48 per share. This sale was conducted under a pre-arranged 10b5-1 trading plan. The transaction occurred as PPL maintains its impressive 54-year streak of consecutive dividend payments, currently offering a 3.14% yield.
Previously, on January 27, Henninger acquired 2,161.555 shares of common stock through the exercise of stock units under the company’s Stock Incentive Plan, valued at approximately $72,433 at a price of $33.51 per share. Additionally, 737 shares were withheld by the company to cover tax obligations, totaling roughly $24,696 at the same price per share.
Following these transactions, Henninger holds 11,259.087 shares of PPL Corp common stock directly. An additional 98.509 shares are held indirectly in a trust as part of the Employee Stock Ownership Plan, which includes reinvested dividends. For deeper insights into PPL’s insider trading patterns and comprehensive financial analysis, investors can access the full InvestingPro Research Report, which includes detailed valuation metrics and growth projections.
In other recent news, PPL Corporation announced significant changes to its executive team, including the retirement of Executive Vice President and Chief Operating Officer, Francis X. Sullivan. The company plans to eliminate the COO role and reallocate responsibilities among other officers, a move expected to enhance management efficiency. PPL Corporation recently reported narrowed ongoing earnings for 2024, with GAAP earnings of $0.29 per share, and ongoing earnings of $0.42 per share.
The company also disclosed plans to complete infrastructure improvements worth approximately $3.1 billion. Analysts from Jefferies, Citi, and BMO Capital Markets have adjusted their outlooks on PPL Corp, with Jefferies maintaining a Buy recommendation, while Citi and BMO Capital Markets retain a Neutral and Outperform rating respectively.
These recent developments indicate PPL Corp’s strategic focus on substantial 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. Despite supply chain constraints, PPL Corp remains confident in executing its construction plans.
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