Grove Bank & Trust Cuts Holdings in National Grid plc (NYSE:NGG)

Grove Bank & Trust lessened its position in shares of National Grid plc (NYSE:NGG) by 3.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,489 shares of the utilities provider’s stock after selling 179 shares during the period. Grove Bank & Trust’s holdings in National Grid were worth $267,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NGG. FMR LLC raised its holdings in National Grid by 77.3% in the third quarter. FMR LLC now owns 3,989,726 shares of the utilities provider’s stock valued at $277,964,000 after buying an additional 1,739,566 shares during the period. Merewether Investment Management LP acquired a new stake in shares of National Grid in the third quarter worth $66,535,000. Ausbil Investment Management Ltd purchased a new position in shares of National Grid in the 3rd quarter valued at $62,421,000. Mediolanum International Funds Ltd acquired a new position in shares of National Grid during the 3rd quarter valued at $38,021,000. Finally, Marshall Wace LLP acquired a new stake in National Grid in the 2nd quarter valued at $29,097,000. 4.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on NGG shares. Deutsche Bank Aktiengesellschaft assumed coverage on National Grid in a research note on Wednesday, October 2nd. They set a “buy” rating on the stock. Citigroup cut National Grid from a “buy” rating to a “neutral” rating in a report on Thursday, October 3rd. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, National Grid has a consensus rating of “Moderate Buy”.

National Grid Stock Up 0.7 %

NYSE:NGG opened at $59.57 on Monday. National Grid plc has a 1-year low of $55.13 and a 1-year high of $73.40. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.61 and a quick ratio of 1.54. The firm has a 50-day moving average of $60.47 and a two-hundred day moving average of $63.73.

National Grid Dividend Announcement

The firm also recently disclosed a semi-annual dividend, which was paid on Tuesday, January 14th. Shareholders of record on Friday, November 22nd were paid a dividend of $2.4939 per share. The ex-dividend date of this dividend was Friday, November 22nd. This represents a yield of 4%.

National Grid 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.