PNC Financial Services Group Inc. Has $4.53 Million Stock Holdings in National Grid plc (NYSE:NGG)

PNC Financial Services Group Inc. reduced its holdings in National Grid plc (NYSE:NGG) by 2.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 66,656 shares of the utilities provider’s stock after selling 1,710 shares during the period. PNC Financial Services Group Inc.’s holdings in National Grid were worth $4,532,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of NGG. Cetera Trust Company N.A acquired a new stake in National Grid during the fourth quarter valued at $51,000. Planned Solutions Inc. bought a new stake in shares of National Grid in the 4th quarter valued at approximately $53,000. UMB Bank n.a. increased its holdings in National Grid by 22.7% in the fourth quarter. UMB Bank n.a. now owns 826 shares of the utilities provider’s stock worth $56,000 after buying an additional 153 shares during the last quarter. GAMMA Investing LLC bought a new position in National Grid during the fourth quarter valued at approximately $59,000. Finally, Bruce G. Allen Investments LLC acquired a new stake in National Grid in the fourth quarter valued at approximately $69,000. 4.68% of the stock is currently owned by institutional investors and hedge funds.

National Grid Stock Down 1.7 %

Shares of NYSE NGG opened at $60.68 on Friday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.82 and a current ratio of 0.93. The business has a fifty day simple moving average of $67.77 and a 200 day simple moving average of $66.97. National Grid plc has a one year low of $56.40 and a one year high of $73.40.

National Grid Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Friday, July 19th. Stockholders of record on Friday, June 7th will be paid a $2.4939 dividend. This is a positive change from National Grid’s previous semi-annual dividend of $1.19. This represents a dividend yield of 6%. The ex-dividend date is Friday, June 7th.

Analysts Set New Price Targets

NGG has been the subject of a number of recent research reports. Jefferies Financial Group upgraded shares of National Grid from a “hold” rating to a “buy” rating in a report on Monday, February 5th. BNP Paribas raised National Grid from an “underperform” rating to an “outperform” rating in a report on Tuesday, April 2nd. Finally, StockNews.com raised National Grid from a “sell” rating to a “hold” rating in a research report on Wednesday, April 3rd. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, National Grid has a consensus rating of “Moderate Buy” and a consensus target price of $1,050.00.

National Grid Company Profile

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.