QRG Capital Management Inc. Sells 48,149 Shares of National Grid plc (NYSE:NGG)

QRG Capital Management Inc. reduced its position in National Grid plc (NYSE:NGG) by 48.5% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 51,040 shares of the utilities provider’s stock after selling 48,149 shares during the period. QRG Capital Management Inc.’s holdings in National Grid were worth $3,556,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. BNP Paribas Financial Markets purchased a new stake in National Grid in the 1st quarter worth $1,372,000. Capital International Investors acquired a new position in National Grid during the 1st quarter worth approximately $86,218,000. Atria Investments Inc increased its holdings in National Grid by 19.3% in the first quarter. Atria Investments Inc now owns 61,319 shares of the utilities provider’s stock valued at $4,183,000 after buying an additional 9,931 shares during the last quarter. Gradient Investments LLC raised its position in shares of National Grid by 8,101.0% during the 2nd quarter. Gradient Investments LLC now owns 8,283 shares of the utilities provider’s stock worth $470,000 after acquiring an additional 8,182 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC raised its holdings in National Grid by 54.6% during the first quarter. O Shaughnessy Asset Management LLC now owns 17,185 shares of the utilities provider’s stock worth $1,172,000 after purchasing an additional 6,070 shares in the last quarter. Institutional investors and hedge funds own 4.68% of the company’s stock.

Wall Street Analysts Forecast Growth

NGG has been the topic of several recent 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 note on Wednesday, October 2nd. They issued a “buy” rating for the company. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

National Grid Price Performance

Shares of NYSE:NGG opened at $64.12 on Thursday. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.91 and a quick ratio of 0.84. The company’s fifty day moving average is $67.43 and its two-hundred day moving average is $64.57. National Grid plc has a 1-year low of $55.13 and a 1-year high of $73.40.

National Grid 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.