RNC Capital Management LLC Has $656,000 Position in National Grid plc (NYSE:NGG)

RNC Capital Management LLC boosted its holdings in National Grid plc (NYSE:NGGGet Rating) by 61.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,068 shares of the utilities provider’s stock after purchasing an additional 3,453 shares during the quarter. RNC Capital Management LLC’s holdings in National Grid were worth $656,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Bank of America Corp DE grew its position in National Grid by 1.8% in the 2nd quarter. Bank of America Corp DE now owns 3,005,423 shares of the utilities provider’s stock valued at $192,166,000 after purchasing an additional 52,351 shares during the period. Royal Bank of Canada grew its position in National Grid by 2.2% in the 3rd quarter. Royal Bank of Canada now owns 1,296,582 shares of the utilities provider’s stock valued at $77,315,000 after purchasing an additional 28,216 shares during the period. Goldman Sachs Group Inc. grew its position in National Grid by 16.0% in the 3rd quarter. Goldman Sachs Group Inc. now owns 1,126,102 shares of the utilities provider’s stock valued at $67,149,000 after purchasing an additional 155,196 shares during the period. Morgan Stanley grew its position in National Grid by 11.3% in the 3rd quarter. Morgan Stanley now owns 671,354 shares of the utilities provider’s stock valued at $40,033,000 after purchasing an additional 68,087 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in National Grid by 2.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 562,870 shares of the utilities provider’s stock worth $33,564,000 after acquiring an additional 12,600 shares during the last quarter. 3.49% of the stock is owned by institutional investors and hedge funds.

NGG stock traded down $0.89 during mid-day trading on Tuesday, reaching $76.26. 12,474 shares of the company traded hands, compared to its average volume of 405,296. The company has a quick ratio of 0.67, a current ratio of 0.69 and a debt-to-equity ratio of 1.61. National Grid plc has a 52-week low of $59.53 and a 52-week high of $80.20. The company has a fifty day moving average price of $75.16 and a 200-day moving average price of $70.63.

A number of equities analysts have issued reports on the stock. Morgan Stanley downgraded shares of National Grid from an “overweight” rating to an “equal weight” rating in a report on Thursday, February 17th. Royal Bank of Canada downgraded shares of National Grid from an “outperform” rating to a “sector perform” rating in a report on Tuesday, January 25th. Citigroup downgraded shares of National Grid from a “buy” rating to a “neutral” rating in a report on Monday, January 24th. Bernstein Bank downgraded shares of National Grid from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from GBX 1,120 ($14.57) to GBX 1,105 ($14.38) in a report on Monday, January 10th. Finally, Sanford C. Bernstein downgraded shares of National Grid from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $1,120.00 to $1,105.00 in a report on Monday, January 10th. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $873.00.

National Grid Profile (Get Rating)

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 (NGV) and Other segments. The UK Electricity Transmission segment owns and operates electricity transmission networks, which comprise approximately 7,236 kilometers of overhead lines.

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Institutional Ownership by Quarter for National Grid (NYSE:NGG)

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