Fifth Third Bancorp Has $284,000 Stock Holdings in National Grid plc (NYSE:NGG)

Fifth Third Bancorp lowered its position in shares of National Grid plc (NYSE:NGG) by 20.2% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,003 shares of the utilities provider’s stock after selling 1,269 shares during the quarter. Fifth Third Bancorp’s holdings in National Grid were worth $284,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Capital International Investors acquired a new stake in National Grid in the 1st quarter worth about $86,218,000. International Assets Investment Management LLC bought a new position in shares of National Grid during the fourth quarter worth approximately $11,446,000. Wells Fargo & Company MN raised its position in shares of National Grid by 10.3% in the fourth quarter. Wells Fargo & Company MN now owns 1,215,723 shares of the utilities provider’s stock valued at $82,657,000 after buying an additional 113,208 shares in the last quarter. Jennison Associates LLC bought a new stake in shares of National Grid in the fourth quarter valued at approximately $6,123,000. Finally, Envestnet Asset Management Inc. grew its position in National Grid by 5.8% during the fourth quarter. Envestnet Asset Management Inc. now owns 1,286,459 shares of the utilities provider’s stock worth $87,466,000 after buying an additional 70,730 shares in the last quarter. Institutional investors own 4.68% of the company’s stock.

National Grid Trading Up 1.8 %

Shares of NGG stock opened at $66.61 on Friday. National Grid plc has a fifty-two week low of $55.13 and a fifty-two week high of $73.40. The stock’s fifty day moving average price is $61.47 and its two-hundred day moving average price is $64.27. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.84 and a current ratio of 0.91. The company has a market cap of $52.85 billion, a PE ratio of 13.94, a P/E/G ratio of 5.74 and a beta of 0.61.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Citigroup raised National Grid from a “neutral” rating to a “buy” rating in a report on Monday, June 3rd. The Goldman Sachs Group raised National Grid from a “neutral” rating to a “buy” rating in a research note on Wednesday, June 12th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, National Grid has a consensus rating of “Moderate Buy”.

National Grid Company Profile

National Grid plc transmits and distributes electricity and gas. The company 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.