National Grid plc (NYSE:NGG) Stock Position Reduced by Wrapmanager Inc.

Wrapmanager Inc. lowered its stake in shares of National Grid plc (NYSE:NGG) by 22.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,212 shares of the utilities provider’s stock after selling 1,503 shares during the period. Wrapmanager Inc.’s holdings in National Grid were worth $363,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Bessemer Group Inc. acquired a new position in National Grid in the first quarter worth approximately $29,000. Rothschild Investment LLC bought a new position in shares of National Grid during the 2nd quarter valued at $37,000. Fortitude Family Office LLC acquired a new stake in shares of National Grid in the 3rd quarter valued at $37,000. Eastern Bank bought a new stake in National Grid in the third quarter worth $42,000. Finally, Mather Group LLC. increased its position in National Grid by 89.9% during the second quarter. Mather Group LLC. now owns 900 shares of the utilities provider’s stock worth $51,000 after buying an additional 426 shares during the last quarter. Institutional investors and hedge funds own 4.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Citigroup downgraded National Grid from a “buy” rating to a “neutral” rating in a research note on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft initiated coverage on National Grid in a report on Wednesday, October 2nd. They set a “buy” rating on the stock. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

National Grid Stock Up 1.1 %

National Grid stock opened at $63.58 on Wednesday. The business’s 50-day simple moving average is $66.69 and its 200-day simple moving average is $64.32. National Grid plc has a 52 week low of $55.13 and a 52 week high of $73.40. The company has a current ratio of 1.61, a quick ratio of 1.54 and a debt-to-equity ratio of 1.18.

National Grid Announces Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Tuesday, January 14th. Stockholders of record on Friday, November 22nd will be issued a dividend of $2.4939 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a dividend yield of 4%.

National Grid Profile

National Grid plc transmits and distributes electricity and gas. It 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.