National Grid plc (NYSE:NGG) Stock Position Decreased by DAVENPORT & Co LLC

DAVENPORT & Co LLC lessened its holdings in shares of National Grid plc (NYSE:NGG) by 6.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 63,723 shares of the utilities provider’s stock after selling 4,682 shares during the quarter. DAVENPORT & Co LLC’s holdings in National Grid were worth $3,786,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Fortitude Family Office LLC bought a new position in National Grid in the 3rd quarter worth about $37,000. Eastern Bank bought a new position in National Grid in the 3rd quarter worth about $42,000. Quantbot Technologies LP bought a new position in National Grid in the 3rd quarter worth about $60,000. Addison Advisors LLC grew its position in National Grid by 267.9% in the 3rd quarter. Addison Advisors LLC now owns 986 shares of the utilities provider’s stock worth $69,000 after purchasing an additional 718 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in National Grid by 45.4% in the 3rd quarter. GAMMA Investing LLC now owns 1,005 shares of the utilities provider’s stock worth $70,000 after purchasing an additional 314 shares during the last quarter. Institutional investors own 4.68% of the company’s stock.

Analysts Set New Price Targets

Separately, Citigroup upgraded shares of National Grid from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 21st. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy”.

National Grid Price Performance

Shares of NYSE:NGG opened at $61.98 on Tuesday. The company has a 50 day moving average of $60.03 and a 200-day moving average of $63.75. National Grid plc has a twelve month low of $55.13 and a twelve month high of $73.40. The company has a quick ratio of 1.54, a current ratio of 1.61 and a debt-to-equity ratio of 1.18.

National Grid Dividend Announcement

The business also recently declared a semi-annual dividend, which was paid on Tuesday, January 14th. Stockholders of record on Friday, November 22nd were paid a $2.4939 dividend. This represents a dividend yield of 4%. The ex-dividend date was Friday, November 22nd.

National Grid 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.