Maven Securities LTD cut its holdings in shares of National Grid plc (NYSE:NGG) by 41.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,000 shares of the utilities provider’s stock after selling 7,000 shares during the period. Maven Securities LTD’s holdings in National Grid were worth $490,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NGG. Renaissance Technologies LLC boosted its position in shares of National Grid by 23.5% during the 3rd quarter. Renaissance Technologies LLC now owns 3,887,281 shares of the utilities provider’s stock worth $201,594,000 after purchasing an additional 739,853 shares in the last quarter. Capital International Investors grew its stake in National Grid by 9.0% in the 3rd quarter. Capital International Investors now owns 2,935,366 shares of the utilities provider’s stock valued at $152,228,000 after buying an additional 241,800 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in National Grid by 5.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 401,172 shares of the utilities provider’s stock valued at $19,248,000 after buying an additional 21,398 shares in the last quarter. Reaves W H & Co. Inc. purchased a new position in National Grid in the 3rd quarter valued at approximately $16,612,000. Finally, Vaughan David Investments LLC IL grew its stake in National Grid by 3.6% in the 3rd quarter. Vaughan David Investments LLC IL now owns 271,764 shares of the utilities provider’s stock valued at $14,094,000 after buying an additional 9,325 shares in the last quarter. Hedge funds and other institutional investors own 5.46% of the company’s stock.
NGG has been the subject of several analyst reports. Royal Bank of Canada raised shares of National Grid from a “sector perform” rating to an “outperform” rating in a report on Wednesday, February 6th. Zacks Investment Research downgraded shares of National Grid from a “hold” rating to a “sell” rating in a report on Wednesday, November 28th. Finally, Barclays assumed coverage on shares of National Grid in a research note on Wednesday, January 30th. They issued an “overweight” rating for the company. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $61.00.
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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.
Further Reading: The Structure of a Futures Contract
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