Veriti Management LLC lessened its holdings in National Grid plc (NYSE:NGG – Get Rating) by 5.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,390 shares of the utilities provider's stock after selling 776 shares during the period. Veriti Management LLC's holdings in National Grid were worth $931,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of NGG. ACG Wealth purchased a new stake in National Grid in the 2nd quarter valued at approximately $25,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of National Grid in the first quarter valued at $31,000. JFS Wealth Advisors LLC boosted its stake in shares of National Grid by 65.4% during the first quarter. JFS Wealth Advisors LLC now owns 425 shares of the utilities provider's stock valued at $33,000 after acquiring an additional 168 shares during the last quarter. Core Alternative Capital purchased a new stake in National Grid during the 1st quarter worth about $34,000. Finally, Fairfield Bush & CO. acquired a new position in National Grid in the 1st quarter valued at about $36,000. 3.68% of the stock is currently owned by institutional investors and hedge funds.
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NGG stock opened at $53.54 on Tuesday. 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 stock has a 50-day moving average price of $65.82 and a two-hundred day moving average price of $69.97. National Grid plc has a 12-month low of $52.97 and a 12-month high of $80.20.
Wall Street Analyst Weigh In
A number of equities research analysts have recently commented on NGG shares. StockNews.com downgraded shares of National Grid from a "buy" rating to a "hold" rating in a report on Monday, August 15th. Jefferies Financial Group lowered National Grid from a "buy" rating to a "hold" rating in a research note on Thursday, June 30th. Finally, Credit Suisse Group lifted their price objective on National Grid from GBX 1,200 ($14.50) to GBX 1,225 ($14.80) in a research report on Friday, June 24th. Eleven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price 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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