Kayne Anderson Rudnick Investment Management LLC Lowers Stock Holdings in National Grid plc (NYSE:NGG)

Kayne Anderson Rudnick Investment Management LLC cut its stake in shares of National Grid plc (NYSE:NGG) by 75.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,337 shares of the utilities provider’s stock after selling 37,597 shares during the period. Kayne Anderson Rudnick Investment Management LLC’s holdings in National Grid were worth $701,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. RFP Financial Group LLC raised its stake in shares of National Grid by 119.8% during the first quarter. RFP Financial Group LLC now owns 367 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 200 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of National Grid during the first quarter worth about $27,000. Richardson Financial Services Inc. acquired a new position in shares of National Grid during the first quarter worth about $28,000. Creekmur Asset Management LLC purchased a new position in National Grid during the fourth quarter worth about $29,000. Finally, Bessemer Group Inc. acquired a new stake in National Grid in the first quarter valued at about $29,000. 4.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NGG has been the subject of a number of analyst reports. Citigroup raised National Grid from a “neutral” rating to a “buy” rating in a research note on Monday, June 3rd. The Goldman Sachs Group upgraded National Grid from a “neutral” rating to a “buy” rating in a research report on Wednesday, June 12th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, National Grid has an average rating of “Moderate Buy”.

National Grid Price Performance

Shares of NYSE:NGG opened at $70.46 on Tuesday. National Grid plc has a 12 month low of $55.13 and a 12 month high of $73.40. The firm has a market capitalization of $55.90 billion, a price-to-earnings ratio of 14.44, a price-to-earnings-growth ratio of 4.81 and a beta of 0.61. The business’s 50 day simple moving average is $65.54 and its 200-day simple moving average is $64.59. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.91 and a quick ratio of 0.84.

National Grid 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.