Todays Report: Today, M&T Bank Corp Sold shares of National Grid PLC (NGG)

Today, M&T Bank Corp Sold shares of National Grid PLC (NGG)

M&T Bank Corp cut its position in shares of National Grid PLC (NYSE:NGG) by 25.7% during the third quarter, Holdings Channel reports. The fund owned 71,083 shares of the company’s stock after selling 24,599 shares during the period. M&T Bank Corp’s holdings in National Grid PLC were worth $5,054,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cambiar Investors LLC raised its position in 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 last quarter. Raymond James & Associates raised its position in National Grid PLC by 7.9% in the second quarter. Raymond James & Associates now owns 1,884,654 shares of the company’s stock worth $140,086,000 after buying an additional 137,687 shares during the last quarter. Wells Fargo & Company MN raised its position in National Grid PLC by 1.8% in the third quarter. Wells Fargo & Company MN now owns 1,791,772 shares of the company’s stock worth $127,414,000 after buying an additional 31,014 shares during the last quarter. Ameriprise Financial Inc. raised its position in National Grid PLC by 26.0% in the second quarter. Ameriprise Financial Inc. now owns 1,713,780 shares of the company’s stock worth $128,144,000 after buying an additional 353,866 shares during the last quarter. Finally, Hennessy Advisors Inc. raised its position in National Grid PLC by 6.6% in the second quarter. Hennessy Advisors Inc. now owns 1,070,558 shares of the company’s stock worth $79,575,000 after buying an additional 66,500 shares during the last quarter. Institutional investors and hedge funds own 5.71% of the company’s stock.

Shares of National Grid PLC (NYSE:NGG) traded up 0.72% during mid-day trading on Monday, hitting $58.41. 253,529 shares of the stock traded hands. The firm has a market capitalization of $43.96 billion, a P/E ratio of 17.44 and a beta of 0.50. National Grid PLC has a one year low of $57.29 and a one year high of $74.97. The company’s 50 day moving average is $62.79 and its 200 day moving average is $69.47.

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

A number of research analysts recently issued reports on NGG shares. Zacks Investment Research lowered shares of National Grid PLC from a “buy” rating to a “hold” rating in a research note on Wednesday, November 9th. Jefferies Group restated a “hold” rating on shares of National Grid PLC in a research report on Friday, September 23rd. Citigroup Inc. restated a “neutral” rating on shares of National Grid PLC in a research report on Wednesday, August 3rd. Sanford C. Bernstein lowered shares of National Grid PLC from an “outperform” rating to a “market perform” rating in a research report on Wednesday, September 7th. Finally, Barclays PLC restated an “overweight” rating on shares of National Grid PLC in a research report on Sunday, August 21st. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $76.50.

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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