Icon Wealth Advisors LLC Grows Stock Position in National Grid plc (NYSE:NGG)

Icon Wealth Advisors LLC increased its stake in National Grid plc (NYSE:NGG) by 1,620.2% in the third quarter, HoldingsChannel reports. The fund owned 38,480 shares of the utilities provider’s stock after purchasing an additional 36,243 shares during the period. Icon Wealth Advisors LLC’s holdings in National Grid were worth $2,681,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of National Grid in a research report on Wednesday, October 2nd. They issued a “buy” rating on the stock. Citigroup downgraded National Grid from a “buy” rating to a “neutral” rating in a report on Thursday, October 3rd. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy”.

National Grid Stock Performance

NYSE:NGG opened at $63.10 on Friday. The company has a quick ratio of 1.54, a current ratio of 1.61 and a debt-to-equity ratio of 1.18. The firm’s fifty day simple moving average is $66.45 and its 200 day simple moving average is $64.31. The stock has a market cap of $61.66 billion, a P/E ratio of 13.01, a price-to-earnings-growth ratio of 6.00 and a beta of 0.62. National Grid plc has a twelve month low of $55.13 and a twelve month high of $73.40.

National Grid Announces Dividend

The business also recently announced a semi-annual dividend, which will be paid on Tuesday, January 14th. Stockholders of record on Friday, November 22nd will be paid a dividend of $2.4939 per share. This represents a dividend yield of 4%. The ex-dividend date is Friday, November 22nd. National Grid’s payout ratio is 102.06%.

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.