Connor Clark & Lunn Investment Management Ltd. Decreases Stake in National Grid plc (NYSE:NGG)

Connor Clark & Lunn Investment Management Ltd. lowered its stake in shares of National Grid plc (NYSE:NGG) by 83.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 41,326 shares of the utilities provider’s stock after selling 208,960 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in National Grid were worth $2,879,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Bessemer Group Inc. acquired a new stake in National Grid during the 1st quarter valued at $29,000. Rothschild Investment LLC acquired a new stake in National Grid in the second quarter valued at approximately $37,000. Fortitude Family Office LLC purchased a new stake in National Grid during the 3rd quarter worth $37,000. Eastern Bank purchased a new stake in shares of National Grid during the third quarter worth about $42,000. Finally, Mather Group LLC. increased its holdings in National Grid by 89.9% during the 2nd quarter. Mather Group LLC. now owns 900 shares of the utilities provider’s stock worth $51,000 after purchasing an additional 426 shares during the last quarter. 4.68% of the stock is currently owned by hedge funds and other institutional investors.

National Grid Trading Up 0.0 %

NYSE NGG opened at $63.11 on Monday. The company’s 50 day simple moving average is $66.32 and its 200 day simple moving average is $64.19. The company has a current ratio of 1.61, a quick ratio of 1.54 and a debt-to-equity ratio of 1.18. National Grid plc has a 12 month low of $55.13 and a 12 month high of $73.40.

National Grid Announces Dividend

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

Wall Street Analysts Forecast Growth

NGG has been the topic of a number of recent analyst reports. Citigroup lowered shares of National Grid from a “buy” rating to a “neutral” rating in a research note on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft began coverage on National Grid in a research note on Wednesday, October 2nd. They issued a “buy” rating on the stock. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, National Grid presently has an average rating of “Moderate Buy”.

About National Grid

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.