Trade Report: The FTB Advisors Inc. Raises Stake in National Grid PLC (NGG)

The FTB Advisors Inc. Raises Stake in National Grid PLC (NGG)

FTB Advisors Inc. boosted its position in National Grid PLC (NYSE:NGG) by 4.1% during the second quarter, Holdings Channel reports. The firm owned 2,846 shares of the company’s stock after buying an additional 113 shares during the period. FTB Advisors Inc.’s holdings in National Grid PLC were worth $211,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Penobscot Investment Management Company Inc. increased its stake in National Grid PLC by 1.2% in the second quarter. Penobscot Investment Management Company Inc. now owns 9,880 shares of the company’s stock worth $734,000 after buying an additional 120 shares during the period. Cambiar Investors LLC increased its stake in shares of National Grid PLC by 4.4% in the second quarter. Cambiar Investors LLC now owns 2,183,030 shares of the company’s stock worth $162,265,000 after buying an additional 92,346 shares during the period. Aviance Capital Management LLC increased its stake in shares of National Grid PLC by 23.1% in the second quarter. Aviance Capital Management LLC now owns 557,889 shares of the company’s stock worth $41,468,000 after buying an additional 104,738 shares during the period. Genesee Valley Trust Co. increased its stake in shares of National Grid PLC by 2.1% in the second quarter. Genesee Valley Trust Co. now owns 7,337 shares of the company’s stock worth $545,000 after buying an additional 148 shares during the period. Finally, Bank of Montreal Can bought a new stake in shares of National Grid PLC during the second quarter worth approximately $21,380,000. Hedge funds and other institutional investors own 6.09% of the company’s stock.

National Grid PLC (NYSE:NGG) traded down 0.26% during trading on Monday, hitting $64.86. 328,939 shares of the stock were exchanged. The firm has a market capitalization of $48.60 billion, a PE ratio of 14.86 and a beta of 0.38. National Grid PLC has a 12-month low of $64.25 and a 12-month high of $74.97. The stock has a 50 day moving average price of $69.52 and a 200-day moving average price of $71.36.

NGG has been the subject of a number of recent research reports. Zacks Investment Research downgraded National Grid PLC from a “hold” rating to a “sell” rating in a research report on Friday, July 15th. Beaufort Securities reiterated a “buy” rating on shares of National Grid PLC in a research report on Sunday, August 21st. Sanford C. Bernstein downgraded National Grid PLC from an “outperform” rating to a “market perform” rating in a research report on Wednesday, September 7th. Royal Bank Of Canada downgraded National Grid PLC from an “outperform” rating to a “sector perform” rating in a research report on Friday, July 29th. Finally, Jefferies Group reiterated a “hold” rating on shares of National Grid PLC in a research report on Friday, September 23rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $81.50.

About National Grid PLC

National Grid Plc is an electricity and gas utility company. The UK Electricity Transmission includes high voltage electricity transmission networks in Great Britain. Its UK Gas Transmission provides the gas transmission network in Great Britain and UK liquefied natural gas (LNG) storage activities. The Company’s UK Gas Distribution includes four of the eight regional networks of Great Britain’s gas distribution system.

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