Insigneo Advisory Services LLC Lowers Position in National Grid plc (NYSE:NGG)

Insigneo Advisory Services LLC decreased its holdings in shares of National Grid plc (NYSE:NGG) by 16.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,541 shares of the utilities provider’s stock after selling 693 shares during the quarter. Insigneo Advisory Services LLC’s holdings in National Grid were worth $247,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of NGG. Jane Street Group LLC raised its holdings in shares of National Grid by 211.0% during the 3rd quarter. Jane Street Group LLC now owns 22,156 shares of the utilities provider’s stock valued at $1,544,000 after buying an additional 15,031 shares in the last quarter. Voya Financial Advisors Inc. purchased a new stake in shares of National Grid in the 3rd quarter worth about $202,000. Wellington Management Group LLP boosted its stake in shares of National Grid by 7.5% during the 3rd quarter. Wellington Management Group LLP now owns 63,097 shares of the utilities provider’s stock valued at $4,396,000 after purchasing an additional 4,389 shares in the last quarter. Quantinno Capital Management LP increased its position in shares of National Grid by 364.4% during the third quarter. Quantinno Capital Management LP now owns 57,256 shares of the utilities provider’s stock valued at $3,989,000 after buying an additional 44,926 shares during the period. Finally, Merewether Investment Management LP bought a new position in National Grid in the third quarter worth about $66,535,000. 4.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Citigroup downgraded National Grid from a “buy” rating to a “neutral” rating in a report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft started coverage on shares of National Grid in a report on Wednesday, October 2nd. They set a “buy” rating on the stock. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, National Grid currently has a consensus rating of “Moderate Buy”.

National Grid Stock Performance

NGG stock opened at $61.58 on Tuesday. The business has a 50 day moving average of $64.74 and a 200 day moving average of $63.55. National Grid plc has a twelve month low of $55.13 and a twelve month high of $73.40. The company has a quick ratio of 1.54, a current ratio of 1.61 and a debt-to-equity ratio of 1.18.

National Grid Dividend Announcement

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

About National Grid

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.