QRG Capital Management Inc. Grows Position in National Grid Transco, PLC $NGG

QRG Capital Management Inc. grew its stake in shares of National Grid Transco, PLC (NYSE:NGG) by 50.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 83,182 shares of the utilities provider’s stock after purchasing an additional 27,741 shares during the quarter. QRG Capital Management Inc.’s holdings in National Grid Transco were worth $6,190,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Hilltop National Bank purchased a new stake in shares of National Grid Transco during the second quarter valued at approximately $168,000. Trust Co. of Vermont boosted its stake in shares of National Grid Transco by 526.2% during the second quarter. Trust Co. of Vermont now owns 1,146 shares of the utilities provider’s stock valued at $85,000 after purchasing an additional 963 shares during the period. Greenleaf Trust boosted its stake in shares of National Grid Transco by 18.6% during the second quarter. Greenleaf Trust now owns 4,777 shares of the utilities provider’s stock valued at $355,000 after purchasing an additional 749 shares during the period. Raleigh Capital Management Inc. boosted its stake in shares of National Grid Transco by 2.2% during the second quarter. Raleigh Capital Management Inc. now owns 31,148 shares of the utilities provider’s stock valued at $2,318,000 after purchasing an additional 680 shares during the period. Finally, HB Wealth Management LLC boosted its stake in shares of National Grid Transco by 22.1% during the second quarter. HB Wealth Management LLC now owns 10,820 shares of the utilities provider’s stock valued at $805,000 after purchasing an additional 1,956 shares during the period. Hedge funds and other institutional investors own 4.68% of the company’s stock.

National Grid Transco Price Performance

NGG opened at $73.40 on Monday. The stock has a fifty day simple moving average of $71.05 and a two-hundred day simple moving average of $70.71. The company has a current ratio of 1.35, a quick ratio of 1.30 and a debt-to-equity ratio of 1.13. The company has a market cap of $72.83 billion, a price-to-earnings ratio of 14.12, a price-to-earnings-growth ratio of 1.66 and a beta of 0.70. National Grid Transco, PLC has a 12-month low of $55.82 and a 12-month high of $74.82.

Analysts Set New Price Targets

A number of brokerages recently commented on NGG. Weiss Ratings reaffirmed a “hold (c)” rating on shares of National Grid Transco in a research note on Saturday, September 27th. Zacks Research lowered National Grid Transco from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 1st. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, National Grid Transco currently has a consensus rating of “Moderate Buy” and an average price target of $80.40.

About National Grid Transco

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.