Northwestern Mutual Wealth Management Co. Sells 675 Shares of National Grid plc (NYSE:NGG)

Northwestern Mutual Wealth Management Co. cut its position in shares of National Grid plc (NYSE:NGG) by 8.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,331 shares of the utilities provider’s stock after selling 675 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in National Grid were worth $416,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in NGG. Mayflower Financial Advisors LLC grew its stake in shares of National Grid by 4.5% during the first quarter. Mayflower Financial Advisors LLC now owns 3,681 shares of the utilities provider’s stock valued at $251,000 after buying an additional 160 shares during the last quarter. RFP Financial Group LLC lifted its position 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. Profund Advisors LLC boosted its stake in shares of National Grid by 3.0% during the second quarter. Profund Advisors LLC now owns 7,003 shares of the utilities provider’s stock valued at $398,000 after purchasing an additional 203 shares during the period. Dearborn Partners LLC grew its holdings in shares of National Grid by 5.5% in the first quarter. Dearborn Partners LLC now owns 4,120 shares of the utilities provider’s stock worth $281,000 after purchasing an additional 213 shares during the last quarter. Finally, Bailard Inc. increased its stake in National Grid by 4.4% in the 2nd quarter. Bailard Inc. now owns 5,116 shares of the utilities provider’s stock worth $291,000 after buying an additional 217 shares during the period. 4.68% of the stock is currently owned by institutional investors.

National Grid Price Performance

Shares of NGG opened at $65.88 on Wednesday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.84 and a current ratio of 0.91. The company has a 50 day moving average price of $66.83 and a 200-day moving average price of $64.65. National Grid plc has a fifty-two week low of $55.13 and a fifty-two week high of $73.40. The stock has a market capitalization of $52.27 billion, a PE ratio of 13.44, a PEG ratio of 4.89 and a beta of 0.61.

Analysts Set New Price Targets

A number of brokerages have commented on NGG. The Goldman Sachs Group upgraded shares of National Grid from a “neutral” rating to a “buy” rating in a research note on Wednesday, June 12th. Citigroup cut National Grid from a “buy” rating to a “neutral” rating in a research note on Thursday, October 3rd. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on National Grid in a research report on Wednesday, October 2nd. They set a “buy” rating for the company. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has an average 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.