The Manufacturers Life Insurance Company Sells 29,403 Shares of National Grid Transco, PLC $NGG

The Manufacturers Life Insurance Company lessened its stake in National Grid Transco, PLC (NYSE:NGG) by 6.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 441,107 shares of the utilities provider’s stock after selling 29,403 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in National Grid Transco were worth $28,941,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in NGG. Golden State Wealth Management LLC bought a new stake in National Grid Transco in the 1st quarter valued at $28,000. SJS Investment Consulting Inc. acquired a new stake in shares of National Grid Transco in the 1st quarter valued at about $29,000. Capital Analysts LLC lifted its holdings in shares of National Grid Transco by 33.6% in the first quarter. Capital Analysts LLC now owns 640 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 161 shares in the last quarter. Sound Income Strategies LLC boosted its position in shares of National Grid Transco by 197.3% during the first quarter. Sound Income Strategies LLC now owns 877 shares of the utilities provider’s stock worth $58,000 after buying an additional 582 shares during the period. Finally, Bessemer Group Inc. grew its holdings in shares of National Grid Transco by 216.8% during the first quarter. Bessemer Group Inc. now owns 960 shares of the utilities provider’s stock worth $62,000 after buying an additional 657 shares in the last quarter. 4.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have commented on NGG shares. Barclays restated an “overweight” rating on shares of National Grid Transco in a research note on Friday, May 16th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of National Grid Transco in a research report on Wednesday, May 21st. Citigroup reaffirmed a “neutral” rating on shares of National Grid Transco in a research report on Tuesday, May 6th. BNP Paribas raised shares of National Grid Transco from an “outperform” rating to a “strong-buy” rating in a research report on Thursday, May 29th. Finally, Wall Street Zen downgraded shares of National Grid Transco from a “hold” rating to a “sell” rating in a research note on Friday, May 16th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $80.40.

National Grid Transco Price Performance

Shares of NGG opened at $70.61 on Tuesday. The company has a market cap of $70.07 billion, a price-to-earnings ratio of 13.58, a PEG ratio of 1.60 and a beta of 0.68. National Grid Transco, PLC has a 1-year low of $55.82 and a 1-year high of $74.82. The company’s fifty day simple moving average is $71.60 and its 200 day simple moving average is $69.23. The company has a current ratio of 1.35, a quick ratio of 1.30 and a debt-to-equity ratio of 1.13.

National Grid Transco Company 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.