Todays Report: Today: Havens Advisors LLC Invests $4,044,000 in ITC Holdings Corp. (ITC)

Today: Havens Advisors LLC Invests $4,044,000 in ITC Holdings Corp. (ITC)

Havens Advisors LLC purchased a new stake in shares of ITC Holdings Corp. (NYSE:ITC) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 87,000 shares of the company’s stock, valued at approximately $4,044,000. ITC Holdings Corp. makes up about 3.2% of Havens Advisors LLC’s investment portfolio, making the stock its 9th largest position.

Several other hedge funds also recently added to or reduced their stakes in ITC. BNP Paribas Arbitrage SA raised its stake in shares of ITC Holdings Corp. by 615.4% in the third quarter. BNP Paribas Arbitrage SA now owns 2,604 shares of the company’s stock worth $121,000 after buying an additional 2,240 shares in the last quarter. Point72 Asia Hong Kong Ltd raised its stake in shares of ITC Holdings Corp. by 900.0% in the second quarter. Point72 Asia Hong Kong Ltd now owns 4,000 shares of the company’s stock worth $187,000 after buying an additional 3,600 shares in the last quarter. Nuveen Fund Advisors LLC bought a new stake in shares of ITC Holdings Corp. during the second quarter worth $225,000. Stratos Wealth Partners LTD. bought a new stake in shares of ITC Holdings Corp. during the second quarter worth $247,000. Finally, Creative Planning raised its stake in shares of ITC Holdings Corp. by 0.9% in the second quarter. Creative Planning now owns 5,342 shares of the company’s stock worth $250,000 after buying an additional 48 shares in the last quarter. 84.21% of the stock is currently owned by institutional investors and hedge funds.

ITC Holdings Corp. (NYSE:ITC) remained flat at $45.50 during mid-day trading on Monday. ITC Holdings Corp. has a 1-year low of $33.82 and a 1-year high of $47.46. The firm has a 50-day moving average of $45.50 and a 200-day moving average of $45.74.

ITC has been the subject of a number of research reports. Zacks Investment Research raised shares of ITC Holdings Corp. from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a report on Thursday, September 22nd. Edward Jones lowered shares of ITC Holdings Corp. from a “buy” rating to a “hold” rating in a report on Thursday, October 13th. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. ITC Holdings Corp. has a consensus rating of “Hold” and a consensus price target of $44.75.

About ITC Holdings Corp.

ITC Holdings Corp. (ITC Holdings) is a holding company. The Company is engaged in owning, operating, maintaining and investing in transmission infrastructure. The Company’s business consists primarily of the electric transmission operations of its Regulated Operating Subsidiaries. Its Regulated Operating Subsidiaries include International Transmission Company (ITCTransmission), Michigan Electric Transmission Company, LLC (METC), ITC Midwest LLC (ITC Midwest).

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