Orrstown Financial Services Inc. Invests $208,000 in National Grid plc (NYSE:NGG)

Orrstown Financial Services Inc. bought a new position in shares of National Grid plc (NYSE:NGG) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,986 shares of the utilities provider’s stock, valued at approximately $208,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in NGG. BNP Paribas Financial Markets purchased a new position in shares of National Grid during the first quarter worth about $1,372,000. Capital International Investors purchased a new position in shares of National Grid during the first quarter worth about $86,218,000. Atria Investments Inc grew its holdings in shares of National Grid by 19.3% during 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 grew its holdings in shares of National Grid by 8,101.0% during 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 grew its holdings in shares of National Grid by 54.6% during 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. Institutional investors and hedge funds own 4.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on NGG. Citigroup lowered 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 report on Wednesday, October 2nd. They issued a “buy” rating on the stock. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, National Grid presently has a consensus rating of “Moderate Buy”.

National Grid Stock Performance

Shares of NGG opened at $65.16 on Wednesday. National Grid plc has a twelve month low of $55.13 and a twelve month high of $73.40. The stock’s 50 day moving average is $67.64 and its two-hundred day moving average is $64.58. The company has a quick ratio of 0.84, a current ratio of 0.91 and a debt-to-equity ratio of 1.41.

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.