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David J. Bonenberger, Senior Vice President and Chief Operating Officer-Utilities of PPL Corp (NYSE:PPL), recently sold a significant portion of his common stock holdings in the company. According to a Form 4 filing with the Securities and Exchange Commission, Bonenberger sold 17,178 shares on February 3, 2025, at a price of $33.38 per share, totaling approximately $573,401. The transaction comes as PPL trades near its 52-week high of $35.15, with InvestingPro data showing the stock is currently trading above its Fair Value.
This transaction was executed under a 10b5-1 trading plan established on August 14, 2024, allowing Bonenberger to systematically sell shares over time. Following this sale, Bonenberger retains direct ownership of 45,414.229 shares. Additionally, he holds indirect interests in 4,920.403 shares through an employee stock ownership plan and 100 shares via a spousal IRA account. PPL, with a market capitalization of $25 billion, maintains a solid financial profile with InvestingPro reporting a "GOOD" overall Financial Health score and a 54-year track record of consecutive dividend payments.
Investors often monitor insider transactions such as these for insights into executive confidence in the company’s future performance. For a comprehensive analysis of PPL’s valuation, financial health, and growth prospects, including 8 additional ProTips, visit InvestingPro.
In other recent news, PPL Corporation has undergone significant changes in its executive team, including the departure of Executive Vice President and Chief Operating Officer, Francis X. Sullivan. As part of an internal restructure, the COO role has been eliminated, with responsibilities distributed among other officers to enhance management efficiency. David J. Bonenberger and Lonnie Bellar will assume expanded leadership roles following Sullivan’s departure.
On the financial front, both Jefferies and BMO Capital Markets have expressed positive outlooks for PPL Corp. Jefferies has adjusted the company’s price target to $38.00, maintaining a Buy rating due to expected improvements in earnings per share growth. BMO Capital Markets has initiated coverage on PPL Corp with an Outperform rating and a $36.00 price target, citing the company’s straightforward business model and appealing investment characteristics.
In contrast, Citi has maintained a Neutral rating on PPL Corp, increasing its price target to $36.00. The adjustment follows insights from a technical conference suggesting a higher likelihood of datacenters in Pennsylvania opting for gas generation. These recent developments provide valuable insights into PPL Corp’s evolving financial landscape and leadership structure.
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