Gabelli Funds LLC lessened its holdings in shares of National Grid plc (NYSE:NGG – Get Rating) by 1.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 157,900 shares of the utilities provider’s stock after selling 2,300 shares during the period. Gabelli Funds LLC’s holdings in National Grid were worth $8,137,000 at the end of the most recent quarter.
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Other large investors also recently made changes to their positions in the company. Goldman Sachs Group Inc. raised its position in National Grid by 17.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,613,446 shares of the utilities provider’s stock worth $124,025,000 after acquiring an additional 242,081 shares in the last quarter. Wells Fargo & Company MN raised its position in National Grid by 1.6% in the second quarter. Wells Fargo & Company MN now owns 920,370 shares of the utilities provider’s stock valued at $59,539,000 after purchasing an additional 14,778 shares during the last quarter. Federated Hermes Inc. raised its holdings in National Grid by 2.0% in the 2nd quarter. Federated Hermes Inc. now owns 839,287 shares of the utilities provider’s stock valued at $54,293,000 after buying an additional 16,627 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of National Grid by 3.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 713,622 shares of the utilities provider’s stock worth $36,773,000 after purchasing an additional 21,411 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in shares of National Grid by 9.8% in the second quarter. Envestnet Asset Management Inc. now owns 709,311 shares of the utilities provider’s stock valued at $45,885,000 after buying an additional 63,601 shares during the period. Institutional investors own 3.49% of the company’s stock.
Wall Street Analyst Weigh In
NGG has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft lifted their target price on National Grid from GBX 1,020 ($12.38) to GBX 1,070 ($12.99) in a report on Friday, January 13th. JPMorgan Chase & Co. began coverage on shares of National Grid in a research report on Tuesday, November 8th. They set an “overweight” rating on the stock. StockNews.com downgraded shares of National Grid from a “buy” rating to a “hold” rating in a research report on Monday. Royal Bank of Canada initiated coverage on National Grid in a report on Monday. They issued an “outperform” rating for the company. Finally, Morgan Stanley upgraded National Grid from an “equal weight” rating to an “overweight” rating in a research note on Friday, January 6th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,106.67.
National Grid Price Performance
National Grid stock opened at $62.95 on Friday. National Grid plc has a one year low of $47.22 and a one year high of $80.20. The company has a quick ratio of 0.66, a current ratio of 0.71 and a debt-to-equity ratio of 1.52. The business has a fifty day moving average price of $62.52 and a 200-day moving average price of $60.89.
About National Grid
National Grid Plc engages in the transmission and distribution of electricity and gas. It operates through the following segments: UK Electricity Transmission, UK Electricity Distribution, UK Electricity System Operator, New England, and New York. The UK Electricity Transmission segment focuses on the high-voltage electricity transmission networks in England and Wales.
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