National Grid plc (NGG) Position Cut by CIBC Asset Management Inc

CIBC Asset Management Inc reduced its holdings in shares of National Grid plc (NYSE:NGG) by 6.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,364 shares of the utilities provider’s stock after selling 3,512 shares during the period. CIBC Asset Management Inc’s holdings in National Grid were worth $2,612,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Cambridge Investment Research Advisors Inc. grew its holdings in National Grid by 12.9% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 26,438 shares of the utilities provider’s stock worth $1,371,000 after acquiring an additional 3,021 shares during the period. Comerica Bank grew its holdings in National Grid by 7.1% during the third quarter. Comerica Bank now owns 51,776 shares of the utilities provider’s stock worth $2,833,000 after acquiring an additional 3,410 shares during the period. Private Advisor Group LLC grew its holdings in National Grid by 26.6% during the third quarter. Private Advisor Group LLC now owns 15,419 shares of the utilities provider’s stock worth $800,000 after acquiring an additional 3,237 shares during the period. Moody National Bank Trust Division acquired a new stake in National Grid during the third quarter worth about $487,000. Finally, Albert D Mason Inc. grew its holdings in National Grid by 6.5% during the third quarter. Albert D Mason Inc. now owns 31,190 shares of the utilities provider’s stock worth $1,618,000 after acquiring an additional 1,911 shares during the period. 5.48% of the stock is currently owned by institutional investors.

Several analysts recently commented on NGG shares. ValuEngine raised National Grid from a “sell” rating to a “hold” rating in a report on Thursday, October 11th. Zacks Investment Research raised National Grid from a “sell” rating to a “hold” rating in a report on Thursday, August 23rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $65.00.

National Grid stock opened at $55.42 on Friday. The stock has a market cap of $37.06 billion, a P/E ratio of 14.10, a P/E/G ratio of 6.50 and a beta of 0.22. National Grid plc has a 52 week low of $50.52 and a 52 week high of $60.69. The company has a current ratio of 0.77, a quick ratio of 0.73 and a debt-to-equity ratio of 1.18.

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National Grid Profile

National Grid Plc engages in the transmission and distribution of electricity and gas. It operates through the following segments: UK Electricity Transmission, UK Gas Transmission, and U.S. Regulated. The UK Electricity Transmission segment engages in electricity transmission in England and Wales. The UK Gas Transmission segment owns and operates the gas national transmission system in Great Britain, with day-to-day responsibility for balancing demand.

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Institutional Ownership by Quarter for National Grid (NYSE:NGG)

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