Greenleaf Trust Cuts Stock Holdings in National Grid plc (NYSE:NGG)

Greenleaf Trust cut its stake in National Grid plc (NYSE:NGG) by 16.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,808 shares of the utilities provider’s stock after selling 757 shares during the period. Greenleaf Trust’s holdings in National Grid were worth $259,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP boosted its stake in shares of National Grid by 3.9% in the 3rd quarter. Wellington Management Group LLP now owns 53,984 shares of the utilities provider’s stock valued at $3,273,000 after buying an additional 2,049 shares during the period. DAVENPORT & Co LLC lifted its stake in National Grid by 6.3% in the fourth quarter. DAVENPORT & Co LLC now owns 70,514 shares of the utilities provider’s stock worth $4,794,000 after acquiring an additional 4,162 shares during the last quarter. Raymond James & Associates grew its holdings in National Grid by 0.7% during the 4th quarter. Raymond James & Associates now owns 1,260,656 shares of the utilities provider’s stock worth $85,712,000 after acquiring an additional 8,192 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC purchased a new stake in shares of National Grid in the 3rd quarter valued at approximately $2,775,000. Finally, FMR LLC raised its holdings in shares of National Grid by 23.9% in the 3rd quarter. FMR LLC now owns 1,648,729 shares of the utilities provider’s stock valued at $99,962,000 after purchasing an additional 318,533 shares in the last quarter. 4.68% of the stock is owned by institutional investors and hedge funds.

National Grid Stock Performance

NGG opened at $66.82 on Thursday. National Grid plc has a one year low of $56.40 and a one year high of $74.48. The company has a current ratio of 0.93, a quick ratio of 0.82 and a debt-to-equity ratio of 1.43. The business’s 50-day simple moving average is $66.81 and its 200-day simple moving average is $65.64.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on NGG shares. Deutsche Bank Aktiengesellschaft upgraded shares of National Grid from a “hold” rating to a “buy” rating in a research note on Tuesday, January 16th. BNP Paribas upgraded National Grid from an “underperform” rating to an “outperform” rating in a report on Tuesday, April 2nd. StockNews.com upgraded National Grid from a “sell” rating to a “hold” rating in a research note on Wednesday, April 3rd. Finally, Jefferies Financial Group upgraded shares of National Grid from a “hold” rating to a “buy” rating in a research note on Monday, February 5th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, National Grid has an average rating of “Moderate Buy” and an average target price of $1,165.00.

National Grid Company Profile

National Grid plc transmits and distributes electricity and gas. The company 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.