Pittenger & Anderson Inc. Boosts Position in National Grid Transco, PLC $NGG

Pittenger & Anderson Inc. boosted its holdings in National Grid Transco, PLC (NYSE:NGG) by 36.1% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 42,765 shares of the utilities provider’s stock after purchasing an additional 11,340 shares during the quarter. Pittenger & Anderson Inc.’s holdings in National Grid Transco were worth $3,182,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Golden State Wealth Management LLC purchased a new position in National Grid Transco in the first quarter valued at approximately $28,000. Trust Co. of Toledo NA OH purchased a new position in National Grid Transco in the second quarter valued at approximately $31,000. V Square Quantitative Management LLC purchased a new position in National Grid Transco in the second quarter valued at approximately $35,000. Capital Analysts LLC raised its holdings in National Grid Transco by 33.6% in the first quarter. Capital Analysts LLC now owns 640 shares of the utilities provider’s stock valued at $42,000 after buying an additional 161 shares during the period. Finally, Bessemer Group Inc. raised its holdings in National Grid Transco by 216.8% in the first quarter. Bessemer Group Inc. now owns 960 shares of the utilities provider’s stock valued at $62,000 after buying an additional 657 shares during the period. Hedge funds and other institutional investors own 4.68% of the company’s stock.

National Grid Transco Trading Down 0.4%

NGG opened at $76.63 on Tuesday. The firm has a market capitalization of $76.04 billion, a P/E ratio of 14.74, a P/E/G ratio of 1.74 and a beta of 0.70. The firm’s 50 day moving average is $71.79 and its 200-day moving average is $71.45. National Grid Transco, PLC has a 52-week low of $55.82 and a 52-week high of $77.01. The company has a quick ratio of 1.30, a current ratio of 1.35 and a debt-to-equity ratio of 1.13.

Analysts Set New Price Targets

NGG has been the topic of several research reports. Weiss Ratings restated a “hold (c)” rating on shares of National Grid Transco in a report on Wednesday, October 8th. Zacks Research lowered shares of National Grid Transco from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 1st. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $80.40.

National Grid Transco 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.