Mirae Asset Global Investments Co. Ltd. cut its holdings in National Grid plc (NYSE:NGG) by 3.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,210 shares of the utilities provider’s stock after selling 462 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in National Grid were worth $682,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in the stock. Moody National Bank Trust Division boosted its stake in National Grid by 2.4% in the fourth quarter. Moody National Bank Trust Division now owns 9,626 shares of the utilities provider’s stock valued at $462,000 after buying an additional 226 shares in the last quarter. Patriot Financial Group Insurance Agency LLC boosted its stake in National Grid by 6.0% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 4,860 shares of the utilities provider’s stock valued at $233,000 after buying an additional 275 shares in the last quarter. Plimoth Trust Co. LLC boosted its stake in shares of National Grid by 3.6% during the third quarter. Plimoth Trust Co. LLC now owns 13,209 shares of the utilities provider’s stock valued at $685,000 after purchasing an additional 456 shares in the last quarter. Albert D Mason Inc. boosted its stake in shares of National Grid by 2.1% during the fourth quarter. Albert D Mason Inc. now owns 31,845 shares of the utilities provider’s stock valued at $1,528,000 after purchasing an additional 655 shares in the last quarter. Finally, KCS Wealth Advisory boosted its stake in shares of National Grid by 5.5% during the fourth quarter. KCS Wealth Advisory now owns 13,339 shares of the utilities provider’s stock valued at $640,000 after purchasing an additional 697 shares in the last quarter. 5.46% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have recently commented on NGG. Zacks Investment Research raised National Grid from a “sell” rating to a “hold” rating in a research note on Tuesday, December 25th. Royal Bank of Canada raised National Grid from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, February 6th. Finally, Barclays began coverage on National Grid in a research note on Wednesday, January 30th. They set an “overweight” rating on the stock. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. National Grid currently has an average rating of “Buy” and an average target price of $61.00.
Shares of NGG stock opened at $57.87 on Friday. National Grid plc has a 12 month low of $46.36 and a 12 month high of $59.82. The stock has a market cap of $39.41 billion, a PE ratio of 14.73, a PEG ratio of 10.15 and a beta of 0.45. The company has a current ratio of 0.85, a quick ratio of 0.79 and a debt-to-equity ratio of 1.22.
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National Grid Company Profile
National Grid plc transmits and distributes electricity and natural gas. It operates through UK Electricity Transmission, UK Gas Transmission, US Regulated, and National Grid Ventures and Other Activities segments. The UK Electricity Transmission segment owns and operates electricity transmission networks, which comprise approximately 7,200 kilometers of overhead lines; 1,560 kilometers of underground cables; and 346 substations in England and Wales, as well as Scottish electricity transmission systems.
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