First Bank & Trust lifted its holdings in National Grid plc (NYSE:NGG) by 21.3% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 27,839 shares of the utilities provider’s stock after acquiring an additional 4,882 shares during the quarter. National Grid accounts for about 1.2% of First Bank & Trust’s holdings, making the stock its 21st biggest holding. First Bank & Trust’s holdings in National Grid were worth $1,554,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in NGG. Riverview Trust Co bought a new position in National Grid in the 1st quarter worth about $26,000. Orrstown Financial Services Inc. bought a new position in shares of National Grid during the 1st quarter valued at approximately $26,000. Liberty Wealth Management LLC bought a new position in shares of National Grid during the 4th quarter valued at approximately $33,000. Doyle Wealth Management bought a new position in shares of National Grid during the 4th quarter valued at approximately $42,000. Finally, Truvestments Capital LLC bought a new position in shares of National Grid during the 1st quarter valued at approximately $51,000. Hedge funds and other institutional investors own 5.47% of the company’s stock.
NGG has been the subject of a number of analyst reports. Zacks Investment Research upgraded National Grid from a “sell” rating to a “buy” rating and set a $61.00 price target for the company in a research report on Wednesday, February 13th. Royal Bank of Canada upgraded National Grid from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, February 6th. Finally, Barclays initiated coverage on National Grid in a research report on Wednesday, January 30th. They set an “overweight” rating for the company. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. National Grid presently has a consensus rating of “Hold” and a consensus price target of $61.00.
Shares of National Grid stock traded up $0.04 during trading on Monday, hitting $53.78. 11,377 shares of the stock traded hands, compared to its average volume of 728,567. The firm has a market cap of $36.55 billion, a P/E ratio of 13.66, a P/E/G ratio of 9.06 and a beta of 0.44. The company has a current ratio of 0.85, a quick ratio of 0.79 and a debt-to-equity ratio of 1.22. National Grid plc has a 52-week low of $46.36 and a 52-week high of $59.82.
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About National Grid
National Grid plc transmits and distributes electricity and natural gas. It operates through UK Electricity Transmission, UK Gas Transmission, US Regulated, and National Grid Ventures and Other Activities segments. The UK Electricity Transmission segment owns and operates electricity transmission networks, which comprise approximately 7,200 kilometers of overhead lines; 1,560 kilometers of underground cables; and 346 substations in England and Wales, as well as Scottish electricity transmission systems.
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