Smith Salley & Associates lessened its stake in shares of National Grid plc (NYSE:NGG) by 6.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,812 shares of the utilities provider’s stock after selling 2,569 shares during the period. Smith Salley & Associates’ holdings in National Grid were worth $2,064,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the stock. Commonwealth Equity Services LLC lifted its position in National Grid by 5.3% during the third quarter. Commonwealth Equity Services LLC now owns 106,343 shares of the utilities provider’s stock valued at $5,514,000 after purchasing an additional 5,341 shares in the last quarter. Flagship Harbor Advisors LLC raised its holdings in National Grid by 31.4% during the third quarter. Flagship Harbor Advisors LLC now owns 16,729 shares of the utilities provider’s stock valued at $863,000 after acquiring an additional 4,000 shares during the period. Cambridge Investment Research Advisors Inc. raised 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 valued at $1,371,000 after acquiring an additional 3,021 shares during the period. Comerica Bank raised 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 valued at $2,833,000 after acquiring an additional 3,410 shares during the period. Finally, Private Advisor Group LLC raised 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 valued at $800,000 after acquiring an additional 3,237 shares during the period. 5.48% of the stock is owned by institutional investors.
NYSE:NGG opened at $55.42 on Friday. The company has a current ratio of 0.77, a quick ratio of 0.73 and a debt-to-equity ratio of 1.18. The stock has a market cap of $37.36 billion, a price-to-earnings ratio of 14.10, a price-to-earnings-growth ratio of 6.55 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.
A number of equities research analysts have commented on NGG shares. ValuEngine cut National Grid from a “hold” rating to a “sell” rating in a report on Thursday, August 2nd. Zacks Investment Research raised National Grid from a “sell” rating to a “hold” rating in a report on Thursday, August 23rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. National Grid has a consensus rating of “Hold” and an average price target of $65.00.
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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.
See Also: Return on Investment (ROI)
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