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

PFG Investments LLC lessened its stake in shares of National Grid plc (NYSE:NGG) by 10.3% in the third quarter, HoldingsChannel reports. The firm 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 reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NGG. LVW Advisors LLC acquired a new stake in shares of National Grid during the first quarter worth $322,000. Allspring Global Investments Holdings LLC boosted its stake in National Grid by 7,995.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,862 shares of the utilities provider’s stock worth $127,000 after buying an additional 1,839 shares during the last quarter. Naviter Wealth LLC increased its stake in shares of National Grid by 7.8% during the 1st quarter. Naviter Wealth LLC now owns 16,325 shares of the utilities provider’s stock valued at $1,114,000 after acquiring an additional 1,177 shares during the last quarter. SpiderRock Advisors LLC acquired a new position in shares of National Grid during the 1st quarter valued at about $937,000. Finally, Hartline Investment Corp acquired a new stake in shares of National Grid in the first quarter worth approximately $378,000. 4.68% of the stock is currently owned by hedge funds and other institutional investors.

National Grid Trading Down 1.5 %

Shares of NGG stock opened at $65.35 on Monday. 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 plc has a fifty-two week low of $55.13 and a fifty-two week high of $73.40. The firm’s 50 day moving average price is $67.62 and its two-hundred day moving average price is $64.57. The stock has a market cap of $51.85 billion, a price-to-earnings ratio of 13.39, a price-to-earnings-growth ratio of 4.42 and a beta of 0.61.

Analysts Set New Price Targets

NGG has been the subject of several research reports. Citigroup cut shares of National Grid from a “buy” rating to a “neutral” rating in a research note on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft initiated coverage on National Grid in a research report on Wednesday, October 2nd. They set a “buy” rating for the company. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy”.

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.