Strategy Asset Managers LLC increased its position in National Grid plc (NYSE:NGG – Get Rating) by 4.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 35,607 shares of the utilities provider's stock after acquiring an additional 1,518 shares during the period. Strategy Asset Managers LLC's holdings in National Grid were worth $2,303,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in the company. Bank of America Corp DE raised its holdings in National Grid by 2.6% in the 1st quarter. Bank of America Corp DE now owns 3,044,643 shares of the utilities provider's stock worth $234,041,000 after acquiring an additional 75,723 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in National Grid by 17.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,613,446 shares of the utilities provider's stock worth $124,025,000 after acquiring an additional 242,081 shares during the last quarter. JPMorgan Chase & Co. raised its stake in National Grid by 275.6% during the 1st quarter. JPMorgan Chase & Co. now owns 1,212,835 shares of the utilities provider's stock valued at $93,231,000 after buying an additional 889,963 shares during the last quarter. Raymond James & Associates raised its stake in National Grid by 6.1% during the 1st quarter. Raymond James & Associates now owns 1,039,723 shares of the utilities provider's stock valued at $79,923,000 after buying an additional 59,947 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in National Grid by 3.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 645,710 shares of the utilities provider's stock valued at $49,636,000 after buying an additional 19,887 shares during the last quarter. 3.68% of the stock is currently owned by hedge funds and other institutional investors.
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National Grid Trading Down 1.6 %
NGG stock traded down $0.98 during mid-day trading on Tuesday, reaching $59.04. The company had a trading volume of 8,333 shares, compared to its average volume of 416,278. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.73 and a quick ratio of 0.70. The firm has a 50 day moving average of $66.68 and a 200 day moving average of $70.55. National Grid plc has a 12 month low of $59.38 and a 12 month high of $80.20.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on NGG. Jefferies Financial Group lowered shares of National Grid from a "buy" rating to a "hold" rating in a research note on Thursday, June 30th. Credit Suisse Group boosted their target price on shares of National Grid from GBX 1,200 ($14.50) to GBX 1,225 ($14.80) in a research note on Friday, June 24th. Finally, StockNews.com downgraded shares of National Grid from a "buy" rating to a "hold" rating in a research report on Monday, August 15th. Eleven analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, National Grid currently has a consensus rating of "Hold" and an average price target of $1,145.00.
National Grid Profile
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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, and New York segments. The UK Electricity Transmission segment provides electricity transmission and construction work services in England and Wales.
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