National Grid plc (NYSE:NGG) Shares Sold by Park Avenue Securities LLC

Park Avenue Securities LLC decreased its position in shares of National Grid plc (NYSE:NGG) by 20.4% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 23,379 shares of the utilities provider’s stock after selling 5,997 shares during the quarter. Park Avenue Securities LLC’s holdings in National Grid were worth $1,629,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of NGG. Capital International Investors purchased a new position in shares of National Grid during the 1st quarter worth $86,218,000. Hsbc Holdings PLC boosted its stake in National Grid by 11,704.2% in the 2nd quarter. Hsbc Holdings PLC now owns 650,060 shares of the utilities provider’s stock worth $36,917,000 after buying an additional 644,553 shares during the last quarter. Marshall Wace LLP purchased a new stake in National Grid in the 2nd quarter valued at about $29,097,000. Bank of Montreal Can increased its stake in shares of National Grid by 20.3% during the 2nd quarter. Bank of Montreal Can now owns 536,784 shares of the utilities provider’s stock valued at $31,005,000 after acquiring an additional 90,722 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of National Grid by 128.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 148,184 shares of the utilities provider’s stock worth $8,417,000 after acquiring an additional 83,310 shares during the period. Institutional investors and hedge funds own 4.68% of the company’s stock.

National Grid Trading Down 1.5 %

Shares of NGG stock opened at $65.50 on Tuesday. The company has a quick ratio of 0.84, a current ratio of 0.91 and a debt-to-equity ratio of 1.41. National Grid plc has a fifty-two week low of $55.13 and a fifty-two week high of $73.40. The firm’s 50 day moving average price is $66.81 and its two-hundred day moving average price is $64.67. The stock has a market cap of $51.97 billion, a price-to-earnings ratio of 13.37, a price-to-earnings-growth ratio of 4.89 and a beta of 0.61.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on NGG shares. Citigroup downgraded shares of National Grid from a “buy” rating to a “neutral” rating in a report on Thursday, October 3rd. The Goldman Sachs Group raised shares of National Grid from a “neutral” rating to a “buy” rating in a research note on Wednesday, June 12th. Finally, Deutsche Bank Aktiengesellschaft began coverage on National Grid in a research report on Wednesday, October 2nd. They issued a “buy” rating on the stock. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy”.

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.