Strategy Asset Managers LLC cut its holdings in shares of National Grid plc (NYSE:NGG) by 1.3% during the first quarter, HoldingsChannel.com reports. The firm owned 30,817 shares of the utilities provider’s stock after selling 397 shares during the quarter. Strategy Asset Managers LLC’s holdings in National Grid were worth $1,721,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the business. Orrstown Financial Services Inc. acquired a new position in National Grid in the first quarter valued at approximately $26,000. Riverview Trust Co acquired a new stake in shares of National Grid in the first quarter valued at approximately $26,000. Private Capital Group LLC boosted its holdings in shares of National Grid by 136.8% in the first quarter. Private Capital Group LLC now owns 540 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 312 shares during the period. Cornerstone Advisors Inc. boosted its holdings in shares of National Grid by 135.3% in the first quarter. Cornerstone Advisors Inc. now owns 553 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 318 shares during the period. Finally, Liberty Wealth Management LLC acquired a new stake in shares of National Grid in the fourth quarter valued at approximately $33,000. Institutional investors own 5.51% of the company’s stock.
NGG has been the subject of several research analyst reports. Zacks Investment Research raised National Grid from a “sell” rating to a “buy” rating and set a $61.00 price objective for the company in a report on Wednesday, February 13th. Barclays initiated coverage on National Grid in a report on Wednesday, January 30th. They issued an “overweight” rating for the company. Finally, Royal Bank of Canada raised National Grid from a “sector perform” rating to an “outperform” rating in a report on Wednesday, February 6th.
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National Grid Company Profile
National Grid plc transmits and distributes electricity and natural gas. It operates through UK Electricity Transmission, UK Gas Transmission, US Regulated, and National Grid Ventures and Other Activities segments. The UK Electricity Transmission segment owns and operates electricity transmission networks, which comprise approximately 7,200 kilometers of overhead lines; 1,560 kilometers of underground cables; and 346 substations in England and Wales, as well as Scottish electricity transmission systems.
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