PFG Investments LLC Trims Stock Position in National Grid plc (NYSE:NGG)

PFG Investments LLC reduced its stake in shares of National Grid plc (NYSE:NGG) by 10.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,973 shares of the utilities provider’s stock after selling 1,382 shares during the quarter. PFG Investments LLC’s holdings in National Grid were worth $834,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NGG. Mediolanum International Funds Ltd acquired a new stake in shares of National Grid during the third quarter worth about $38,021,000. Ballentine Partners LLC increased its position in National Grid by 19.6% during the third quarter. Ballentine Partners LLC now owns 5,493 shares of the utilities provider’s stock worth $383,000 after buying an additional 899 shares during the period. Ausbil Investment Management Ltd purchased a new stake in National Grid in the third quarter valued at approximately $62,421,000. International Assets Investment Management LLC acquired a new stake in shares of National Grid in the third quarter valued at approximately $12,222,000. Finally, Leo Wealth LLC grew its position in shares of National Grid by 20.5% during the third quarter. Leo Wealth LLC now owns 20,035 shares of the utilities provider’s stock worth $1,396,000 after acquiring an additional 3,402 shares during the last quarter. 4.68% of the stock is owned by hedge funds and other institutional investors.

National Grid Price Performance

National Grid stock opened at $65.35 on Monday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.84 and a current ratio of 0.91. National Grid plc has a one year low of $55.13 and a one year high of $73.40. The company has a market cap of $51.85 billion, a P/E ratio of 13.39, a price-to-earnings-growth ratio of 4.42 and a beta of 0.61. The business has a fifty day moving average of $67.62 and a two-hundred day moving average of $64.57.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on NGG. Citigroup cut shares of National Grid from a “buy” rating to a “neutral” rating in a report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft began coverage on National Grid in a research note 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 given a buy rating to the stock. According to data from MarketBeat.com, National Grid presently has an average rating of “Moderate Buy”.

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.