Assetmark Inc. increased its holdings in shares of National Grid plc (NYSE:NGG) by 11.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 207,242 shares of the utilities provider’s stock after buying an additional 21,008 shares during the quarter. Assetmark Inc.’s holdings in National Grid were worth $10,748,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NGG. Morgan Stanley increased its stake in National Grid by 6.0% during the second quarter. Morgan Stanley now owns 1,915,671 shares of the utilities provider’s stock worth $106,991,000 after acquiring an additional 108,547 shares during the last quarter. BTIM Corp. increased its stake in National Grid by 2.2% during the third quarter. BTIM Corp. now owns 73,175 shares of the utilities provider’s stock worth $3,795,000 after acquiring an additional 1,600 shares during the last quarter. Bank of Montreal Can increased its stake in National Grid by 26.7% during the third quarter. Bank of Montreal Can now owns 319,053 shares of the utilities provider’s stock worth $16,546,000 after acquiring an additional 67,261 shares during the last quarter. Iberiabank Corp acquired a new stake in National Grid during the third quarter worth about $247,000. Finally, Gradient Investments LLC increased its stake in National Grid by 14.5% during the second quarter. Gradient Investments LLC now owns 42,779 shares of the utilities provider’s stock worth $2,389,000 after acquiring an additional 5,410 shares during the last quarter. Hedge funds and other institutional investors own 5.50% of the company’s stock.
NGG stock opened at $53.06 on Friday. The company has a quick ratio of 0.79, a current ratio of 0.85 and a debt-to-equity ratio of 1.22. National Grid plc has a 1 year low of $50.52 and a 1 year high of $59.82. The stock has a market capitalization of $35.57 billion, a PE ratio of 13.50, a P/E/G ratio of 6.27 and a beta of 0.22.
The business also recently announced a special dividend, which will be paid on Wednesday, January 9th. Stockholders of record on Friday, November 23rd will be paid a $1.0616 dividend. The ex-dividend date of this dividend is Wednesday, November 21st. This represents a dividend yield of 7.4%. National Grid’s dividend payout ratio (DPR) is currently 53.44%.
Several equities research analysts have commented on the company. Zacks Investment Research lowered National Grid from a “hold” rating to a “sell” rating in a research note on Tuesday, September 25th. ValuEngine upgraded National Grid from a “sell” rating to a “hold” rating in a research note on Thursday, October 11th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $65.00.
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About National Grid
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.
Further Reading: Earnings Reports
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