Marshall Wace North America L.P. Trims Stake in National Grid plc (NGG)

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Marshall Wace North America L.P. cut its stake in National Grid plc (NYSE:NGG) by 91.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,008 shares of the utilities provider’s stock after selling 101,917 shares during the period. Marshall Wace North America L.P.’s holdings in National Grid were worth $519,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Martin Capital Partners LLC lifted its stake in National Grid by 2.7% in the third quarter. Martin Capital Partners LLC now owns 38,501 shares of the utilities provider’s stock valued at $1,997,000 after buying an additional 997 shares during the period. Oppenheimer Asset Management Inc. lifted its stake in National Grid by 4.9% in the third quarter. Oppenheimer Asset Management Inc. now owns 22,129 shares of the utilities provider’s stock valued at $1,148,000 after buying an additional 1,026 shares during the period. Baird Financial Group Inc. raised its position in shares of National Grid by 17.7% during the third quarter. Baird Financial Group Inc. now owns 7,114 shares of the utilities provider’s stock worth $367,000 after purchasing an additional 1,072 shares during the period. NumerixS Investment Technologies Inc raised its position in shares of National Grid by 216.7% during the second quarter. NumerixS Investment Technologies Inc now owns 1,900 shares of the utilities provider’s stock worth $105,000 after purchasing an additional 1,300 shares during the period. Finally, Gilman Hill Asset Management LLC raised its position in shares of National Grid by 4.7% during the third quarter. Gilman Hill Asset Management LLC now owns 29,272 shares of the utilities provider’s stock worth $1,518,000 after purchasing an additional 1,314 shares during the period. Institutional investors and hedge funds own 5.42% of the company’s stock.

A number of brokerages have recently weighed in on NGG. Zacks Investment Research lowered National Grid from a “hold” rating to a “sell” rating in a research report on Tuesday, September 25th. ValuEngine raised National Grid from a “sell” rating to a “hold” rating in a research report on Thursday, October 11th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $65.00.

NYSE NGG opened at $46.72 on Wednesday. The firm has a market capitalization of $35.21 billion, a P/E ratio of 11.89, a P/E/G ratio of 9.42 and a beta of 0.22. National Grid plc has a 12 month low of $46.36 and a 12 month high of $59.82. The company has a quick ratio of 0.79, a current ratio of 0.85 and a debt-to-equity ratio of 1.22.

The business also recently declared a special dividend, which will be paid on Wednesday, January 9th. Investors of record on Friday, November 23rd will be given a $1.0616 dividend. This represents a yield of 7.4%. The ex-dividend date of this dividend is Wednesday, November 21st. National Grid’s payout ratio is currently 53.44%.

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About National Grid

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.

See Also: Depreciation

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

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