Verition Fund Management LLC Sells 18,943 Shares of National Grid plc (NYSE:NGG)

Verition Fund Management LLC lessened its position in National Grid plc (NYSE:NGG) by 67.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,119 shares of the utilities provider’s stock after selling 18,943 shares during the quarter. Verition Fund Management LLC’s holdings in National Grid were worth $635,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Captrust Financial Advisors boosted its holdings in shares of National Grid by 1.8% in the 3rd quarter. Captrust Financial Advisors now owns 22,140 shares of the utilities provider’s stock worth $1,543,000 after purchasing an additional 385 shares in the last quarter. Walleye Capital LLC bought a new stake in National Grid in the 3rd quarter worth approximately $962,000. Glenmede Trust Co. NA lifted its position in National Grid by 5.9% in the 3rd quarter. Glenmede Trust Co. NA now owns 6,999 shares of the utilities provider’s stock worth $488,000 after buying an additional 390 shares during the last quarter. Townsquare Capital LLC purchased a new stake in National Grid in the third quarter worth approximately $273,000. Finally, Transamerica Financial Advisors Inc. grew its position in National Grid by 202,300.0% during the third quarter. Transamerica Financial Advisors Inc. now owns 2,024 shares of the utilities provider’s stock valued at $141,000 after acquiring an additional 2,023 shares during the last quarter. Institutional investors own 4.68% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Citigroup lowered shares of National Grid from a “buy” rating to a “neutral” rating in a report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of National Grid in a research note on Wednesday, October 2nd. They issued a “buy” rating for the company. Two 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 currently has an average rating of “Moderate Buy”.

National Grid Stock Down 1.0 %

Shares of National Grid stock opened at $60.96 on Wednesday. The company has a quick ratio of 1.54, a current ratio of 1.61 and a debt-to-equity ratio of 1.18. National Grid plc has a one year low of $55.13 and a one year high of $73.40. The business’s 50 day simple moving average is $64.74 and its two-hundred day simple moving average is $63.55.

National Grid Dividend Announcement

The company also recently announced a semi-annual dividend, which will be paid on Tuesday, January 14th. Investors of record on Friday, November 22nd will be paid a $2.4939 dividend. This represents a dividend yield of 4%. The ex-dividend date of this dividend is Friday, November 22nd.

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.