Victory Capital Management Inc. Sells 2,338 Shares of National Grid plc (NYSE:NGG)

Victory Capital Management Inc. lessened its stake in National Grid plc (NYSE:NGG) by 18.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,306 shares of the utilities provider’s stock after selling 2,338 shares during the quarter. Victory Capital Management Inc.’s holdings in National Grid were worth $701,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Cetera Trust Company N.A purchased a new position in National Grid during the fourth quarter worth about $51,000. Planned Solutions Inc. purchased a new stake in shares of National Grid during the 4th quarter valued at $53,000. UMB Bank n.a. raised its stake in shares of National Grid by 22.7% during the 4th quarter. UMB Bank n.a. now owns 826 shares of the utilities provider’s stock worth $56,000 after purchasing an additional 153 shares during the period. GAMMA Investing LLC purchased a new position in shares of National Grid in the 4th quarter worth about $59,000. Finally, Headlands Technologies LLC purchased a new stake in National Grid during the third quarter worth about $64,000. Hedge funds and other institutional investors own 4.68% of the company’s stock.

National Grid Stock Down 1.1 %

National Grid stock opened at $71.95 on Thursday. The firm has a 50 day simple moving average of $68.03 and a 200 day simple moving average of $67.01. The company has a current ratio of 0.93, a quick ratio of 0.82 and a debt-to-equity ratio of 1.43. National Grid plc has a 1-year low of $56.40 and a 1-year high of $73.40.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on NGG shares. Jefferies Financial Group upgraded shares of National Grid from a “hold” rating to a “buy” rating in a research note on Monday, February 5th. BNP Paribas upgraded National Grid from an “underperform” rating to an “outperform” rating in a research note on Tuesday, April 2nd. Finally, StockNews.com upgraded National Grid from a “sell” rating to a “hold” rating in a research note on Wednesday, April 3rd. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,165.00.

About National Grid

National Grid plc transmits and distributes electricity and gas. The company operates through UK Electricity Transmission, UK Electricity Distribution, UK Electricity System Operator, New England, New York, National Grid Ventures, and Other segments. The UK Electricity Transmission segment provides electricity transmission and construction work services in England and Wales.