National Grid plc (NGG) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC lowered its position in National Grid plc (NYSE:NGG) by 3.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 170,016 shares of the utilities provider’s stock after selling 6,300 shares during the quarter. Gabelli Funds LLC’s holdings in National Grid were worth $8,817,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of NGG. Renaissance Technologies LLC lifted its stake in shares of National Grid by 18.9% during the second quarter. Renaissance Technologies LLC now owns 3,147,428 shares of the utilities provider’s stock worth $175,784,000 after purchasing an additional 500,155 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of National Grid by 6.4% during the second quarter. Bank of America Corp DE now owns 2,849,318 shares of the utilities provider’s stock worth $159,135,000 after purchasing an additional 172,362 shares in the last quarter. Morgan Stanley lifted its stake in shares of National Grid by 6.0% during the second quarter. Morgan Stanley now owns 1,915,671 shares of the utilities provider’s stock worth $106,991,000 after purchasing an additional 108,547 shares in the last quarter. Northern Trust Corp lifted its stake in shares of National Grid by 6.8% during the second quarter. Northern Trust Corp now owns 627,051 shares of the utilities provider’s stock worth $35,021,000 after purchasing an additional 39,760 shares in the last quarter. Finally, Aperio Group LLC lifted its stake in shares of National Grid by 28.1% during the second quarter. Aperio Group LLC now owns 373,668 shares of the utilities provider’s stock worth $20,869,000 after purchasing an additional 81,979 shares in the last quarter. Hedge funds and other institutional investors own 5.48% of the company’s stock.

A number of brokerages have commented on NGG. ValuEngine upgraded National Grid from a “sell” rating to a “hold” rating in a research note on Thursday, October 11th. Zacks Investment Research upgraded National Grid from a “sell” rating to a “hold” rating in a research note on Thursday, August 23rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $65.00.

Shares of NGG opened at $55.42 on Friday. National Grid plc has a 12 month low of $50.52 and a 12 month high of $60.69. The company has a quick ratio of 0.73, a current ratio of 0.77 and a debt-to-equity ratio of 1.18.

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About National Grid

National Grid Plc engages in the transmission and distribution of electricity and gas. It operates through the following segments: UK Electricity Transmission, UK Gas Transmission, and U.S. Regulated. The UK Electricity Transmission segment engages in electricity transmission in England and Wales. The UK Gas Transmission segment owns and operates the gas national transmission system in Great Britain, with day-to-day responsibility for balancing demand.

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

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