Todays Report: Today, US Bancorp DE Reduces Position in National Grid PLC (NGG)

Today, US Bancorp DE Reduces Position in National Grid PLC (NGG)

US Bancorp DE lowered its position in shares of National Grid PLC (NYSE:NGG) by 15.4% during the third quarter, according to its most recent filing with the SEC. The fund owned 286,839 shares of the company’s stock after selling 52,147 shares during the period. US Bancorp DE’s holdings in National Grid PLC were worth $20,397,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Quantbot Technologies LP purchased a new stake in National Grid PLC during the third quarter worth about $138,000. Integrated Investment Consultants LLC boosted its stake in National Grid PLC by 1.8% in the second quarter. Integrated Investment Consultants LLC now owns 2,046 shares of the company’s stock worth $152,000 after buying an additional 36 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its stake in National Grid PLC by 1.2% in the second quarter. O Shaughnessy Asset Management LLC now owns 2,273 shares of the company’s stock worth $169,000 after buying an additional 28 shares in the last quarter. Cornerstone Advisors Inc. boosted its stake in National Grid PLC by 5,054.3% in the third quarter. Cornerstone Advisors Inc. now owns 2,371 shares of the company’s stock worth $169,000 after buying an additional 2,325 shares in the last quarter. Finally, Pinkerton Retirement Specialists LLC purchased a new stake in National Grid PLC during the second quarter worth about $185,000. Institutional investors and hedge funds own 5.91% of the company’s stock.

National Grid PLC (NYSE:NGG) traded up 1.29% during trading on Friday, reaching $58.10. The company’s stock had a trading volume of 170,779 shares. The company’s 50 day moving average price is $63.06 and its 200-day moving average price is $69.57. The stock has a market cap of $43.73 billion, a P/E ratio of 17.19 and a beta of 0.50. National Grid PLC has a 1-year low of $57.29 and a 1-year high of $74.97.

The company also recently announced a dividend, which will be paid on Wednesday, January 11th. Stockholders of record on Friday, November 25th will be paid a dividend of $0.933 per share. The ex-dividend date is Tuesday, November 22nd.

NGG has been the topic of several recent analyst reports. Zacks Investment Research raised National Grid PLC from a “hold” rating to a “buy” rating and set a $73.00 price target on the stock in a research note on Wednesday, October 19th. RBC Capital Markets lowered National Grid PLC from an “outperform” rating to a “sector perform” rating in a research note on Friday, July 29th. Barclays PLC reaffirmed an “overweight” rating on shares of National Grid PLC in a research note on Sunday, August 21st. Citigroup Inc. reaffirmed a “neutral” rating on shares of National Grid PLC in a research note on Wednesday, August 3rd. Finally, Jefferies Group reaffirmed a “hold” rating on shares of National Grid PLC in a research note on Friday, September 23rd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. National Grid PLC presently has an average rating of “Hold” and an average target price of $76.50.

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