Rhumbline Advisers Lowers Stock Position in National Grid plc (NYSE:NGG)

Rhumbline Advisers reduced its position in shares of National Grid plc (NYSE:NGG) by 4.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,856 shares of the utilities provider’s stock after selling 743 shares during the period. Rhumbline Advisers’ holdings in National Grid were worth $1,002,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. FMR LLC boosted its position in National Grid by 77.3% in the third quarter. FMR LLC now owns 3,989,726 shares of the utilities provider’s stock worth $277,964,000 after purchasing an additional 1,739,566 shares during the last quarter. Merewether Investment Management LP bought a new stake in shares of National Grid during the 3rd quarter worth $66,535,000. Bank of Montreal Can boosted its holdings in shares of National Grid by 3.1% in the 3rd quarter. Bank of Montreal Can now owns 553,394 shares of the utilities provider’s stock worth $38,588,000 after buying an additional 16,610 shares during the last quarter. ABC Arbitrage SA bought a new position in National Grid during the fourth quarter valued at about $21,706,000. Finally, Hennessy Advisors Inc. increased its holdings in National Grid by 2.8% during the fourth quarter. Hennessy Advisors Inc. now owns 209,144 shares of the utilities provider’s stock worth $12,427,000 after buying an additional 5,700 shares during the last quarter. 4.68% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on NGG shares. Citigroup upgraded shares of National Grid from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 21st. StockNews.com raised shares of National Grid from a “sell” rating to a “hold” rating in a report on Tuesday, February 25th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, National Grid has a consensus rating of “Moderate Buy”.

National Grid Trading Down 2.4 %

Shares of NGG opened at $59.44 on Friday. National Grid plc has a fifty-two week low of $55.13 and a fifty-two week high of $73.40. The business has a 50-day moving average of $60.36 and a 200 day moving average of $63.43. The firm has a market cap of $58.16 billion, a P/E ratio of 11.43, a price-to-earnings-growth ratio of 5.64 and a beta of 0.63. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.54 and a current ratio of 1.61.

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.