320,000 Shares in National Grid plc (NYSE:NGG) Acquired by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board bought a new position in shares of National Grid plc (NYSE:NGG) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 320,000 shares of the utilities provider’s stock, valued at approximately $17,018,000.

A number of other institutional investors also recently bought and sold shares of the business. Renaissance Technologies LLC raised its position in shares of National Grid by 12.5% in the 2nd quarter. Renaissance Technologies LLC now owns 5,973,068 shares of the utilities provider’s stock worth $317,648,000 after acquiring an additional 662,742 shares in the last quarter. Federated Investors Inc. PA grew its stake in National Grid by 6.2% in the first quarter. Federated Investors Inc. PA now owns 2,417,481 shares of the utilities provider’s stock valued at $134,992,000 after purchasing an additional 142,150 shares during the last quarter. Raymond James & Associates raised its holdings in National Grid by 2.1% in the first quarter. Raymond James & Associates now owns 1,791,009 shares of the utilities provider’s stock worth $100,010,000 after purchasing an additional 37,442 shares in the last quarter. Wells Fargo & Company MN raised its holdings in National Grid by 1.6% in the second quarter. Wells Fargo & Company MN now owns 1,368,658 shares of the utilities provider’s stock worth $72,785,000 after purchasing an additional 21,903 shares in the last quarter. Finally, Equity Investment Corp lifted its position in shares of National Grid by 1.9% during the first quarter. Equity Investment Corp now owns 1,111,114 shares of the utilities provider’s stock valued at $62,045,000 after buying an additional 20,589 shares during the last quarter. Institutional investors own 5.73% of the company’s stock.

National Grid stock opened at $50.55 on Wednesday. The stock has a 50-day moving average of $51.84 and a two-hundred day moving average of $53.53. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87. National Grid plc has a one year low of $46.36 and a one year high of $59.01. The stock has a market cap of $37.27 billion, a PE ratio of 13.20, a price-to-earnings-growth ratio of 9.77 and a beta of 0.43.

A number of research firms have recently weighed in on NGG. Sanford C. Bernstein upgraded shares of National Grid from a “market perform” rating to an “outperform” rating in a report on Friday, June 14th. Deutsche Bank upgraded shares of National Grid from a “hold” rating to a “buy” rating in a research note on Tuesday, July 23rd. Zacks Investment Research raised shares of National Grid from a “sell” rating to a “hold” rating in a report on Wednesday, July 24th. Finally, Macquarie assumed coverage on National Grid in a research report on Monday, June 17th. They set an “outperform” rating on the stock. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $61.00.

National Grid Profile

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

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