American Century Companies Inc. Reduces Stock Position in National Grid plc (NYSE:NGG)

American Century Companies Inc. trimmed its position in National Grid plc (NYSE:NGG) by 12.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 134,252 shares of the utilities provider’s stock after selling 19,243 shares during the period. American Century Companies Inc.’s holdings in National Grid were worth $7,626,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of NGG. Leo Wealth LLC purchased a new position in shares of National Grid during the fourth quarter valued at approximately $1,431,000. BNP Paribas Financial Markets purchased a new stake in shares of National Grid in the first quarter valued at $1,372,000. Stifel Financial Corp increased its stake in National Grid by 11.6% in the fourth quarter. Stifel Financial Corp now owns 247,902 shares of the utilities provider’s stock valued at $16,855,000 after purchasing an additional 25,673 shares during the last quarter. Capital International Investors purchased a new position in National Grid during the first quarter worth about $86,218,000. Finally, Atria Investments Inc boosted its stake in National Grid by 19.3% in the 1st quarter. Atria Investments Inc now owns 61,319 shares of the utilities provider’s stock worth $4,183,000 after buying an additional 9,931 shares during the last quarter. 4.68% of the stock is owned by institutional investors and hedge funds.

National Grid Stock Up 1.3 %

Shares of NYSE:NGG opened at $70.46 on Tuesday. The stock has a 50-day simple moving average of $65.54 and a 200-day simple moving average of $64.59. The stock has a market capitalization of $55.90 billion, a P/E ratio of 14.44, a PEG ratio of 4.81 and a beta of 0.61. National Grid plc has a 1 year low of $55.13 and a 1 year high of $73.40. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.84 and a current ratio of 0.91.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on NGG shares. The Goldman Sachs Group raised shares of National Grid from a “neutral” rating to a “buy” rating in a research note on Wednesday, June 12th. Citigroup raised shares of National Grid from a “neutral” rating to a “buy” rating in a research note on Monday, June 3rd. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

National Grid Company Profile

National Grid plc transmits and distributes electricity and gas. It 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.