Naviter Wealth LLC Buys 1,286 Shares of National Grid Transco, PLC $NGG

Naviter Wealth LLC boosted its stake in shares of National Grid Transco, PLC (NYSE:NGG) by 6.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,373 shares of the utilities provider’s stock after purchasing an additional 1,286 shares during the period. Naviter Wealth LLC’s holdings in National Grid Transco were worth $1,708,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Federated Hermes Inc. raised its stake in National Grid Transco by 49.8% during the 1st quarter. Federated Hermes Inc. now owns 3,133,548 shares of the utilities provider’s stock valued at $205,592,000 after buying an additional 1,041,918 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of National Grid Transco by 4.9% in the first quarter. Goldman Sachs Group Inc. now owns 2,012,862 shares of the utilities provider’s stock worth $132,064,000 after acquiring an additional 94,839 shares during the period. Royal Bank of Canada increased its position in National Grid Transco by 7.9% during the first quarter. Royal Bank of Canada now owns 1,880,406 shares of the utilities provider’s stock valued at $123,375,000 after acquiring an additional 137,541 shares during the last quarter. Raymond James Financial Inc. lifted its holdings in National Grid Transco by 22.7% in the first quarter. Raymond James Financial Inc. now owns 1,389,661 shares of the utilities provider’s stock valued at $91,176,000 after acquiring an additional 256,645 shares during the period. Finally, Envestnet Asset Management Inc. lifted its holdings in National Grid Transco by 19.9% in the first quarter. Envestnet Asset Management Inc. now owns 1,372,417 shares of the utilities provider’s stock valued at $90,044,000 after acquiring an additional 228,179 shares during the period. Hedge funds and other institutional investors own 4.68% of the company’s stock.

National Grid Transco Stock Down 1.6%

NYSE NGG opened at $73.30 on Tuesday. National Grid Transco, PLC has a 52 week low of $55.82 and a 52 week high of $74.82. The company has a quick ratio of 1.30, a current ratio of 1.35 and a debt-to-equity ratio of 1.13. The company has a market capitalization of $72.73 billion, a P/E ratio of 14.10, a price-to-earnings-growth ratio of 1.69 and a beta of 0.70. The stock’s 50-day moving average price is $71.39 and its 200-day moving average price is $71.13.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on NGG shares. Zacks Research lowered shares of National Grid Transco from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 1st. Weiss Ratings restated a “hold (c)” rating on shares of National Grid Transco in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, National Grid Transco currently has an average rating of “Moderate Buy” and an average target price of $80.40.

National Grid Transco 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.