Allspring Global Investments Holdings LLC Has $311,000 Stock Holdings in National Grid plc (NYSE:NGG)

Allspring Global Investments Holdings LLC raised its holdings in National Grid plc (NYSE:NGG) by 64.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,460 shares of the utilities provider’s stock after acquiring an additional 1,748 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in National Grid were worth $311,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets acquired a new stake in National Grid in the first quarter valued at approximately $1,372,000. Capital International Investors acquired a new stake in shares of National Grid in the first quarter worth $86,218,000. Atria Investments Inc lifted its stake in shares of National Grid by 19.3% in the first 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. Gradient Investments LLC lifted its stake in shares of National Grid by 8,101.0% in the second quarter. Gradient Investments LLC now owns 8,283 shares of the utilities provider’s stock worth $470,000 after buying an additional 8,182 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its stake in shares of National Grid by 54.6% in the first quarter. O Shaughnessy Asset Management LLC now owns 17,185 shares of the utilities provider’s stock worth $1,172,000 after buying an additional 6,070 shares during the last quarter. 4.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NGG has been the subject of a number of analyst reports. Citigroup cut shares of National Grid from a “buy” rating to a “neutral” rating in a research note on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft initiated coverage on shares of National Grid in a research note on Wednesday, October 2nd. They issued a “buy” rating for the company. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy”.

National Grid Price Performance

Shares of National Grid stock opened at $64.26 on Friday. National Grid plc has a 1-year low of $55.13 and a 1-year high of $73.40. The firm has a fifty day simple moving average of $67.56 and a 200-day simple moving average of $64.58. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.84 and a current ratio of 0.91.

About National Grid

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.