Whittier Trust Co. Cuts Stock Holdings in National Grid plc (NYSE:NGG)

Whittier Trust Co. lowered its position in shares of National Grid plc (NYSE:NGG) by 71.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 742 shares of the utilities provider’s stock after selling 1,853 shares during the quarter. Whittier Trust Co.’s holdings in National Grid were worth $42,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. International Assets Investment Management LLC purchased a new stake in National Grid in the 4th quarter valued at $11,446,000. Atria Wealth Solutions Inc. purchased a new stake in shares of National Grid in the fourth quarter valued at about $222,000. Fisher Asset Management LLC increased its position in National Grid by 25.4% during the fourth quarter. Fisher Asset Management LLC now owns 7,219 shares of the utilities provider’s stock worth $491,000 after purchasing an additional 1,463 shares during the last quarter. First Horizon Advisors Inc. raised its stake in National Grid by 23.2% during the fourth quarter. First Horizon Advisors Inc. now owns 1,310 shares of the utilities provider’s stock worth $89,000 after purchasing an additional 247 shares during the period. Finally, Summit Global Investments acquired a new position in National Grid in the 4th quarter valued at about $1,049,000. Hedge funds and other institutional investors own 4.68% of the company’s stock.

National Grid Price Performance

Shares of NGG opened at $66.60 on Friday. The firm has a 50-day simple moving average of $62.27 and a two-hundred day simple moving average of $64.32. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.91 and a quick ratio of 0.84. National Grid plc has a 1-year low of $55.13 and a 1-year high of $73.40. The stock has a market cap of $52.84 billion, a PE ratio of 13.93, a P/E/G ratio of 5.74 and a beta of 0.61.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. The Goldman Sachs Group upgraded shares of National Grid from a “neutral” rating to a “buy” rating in a report on Wednesday, June 12th. Citigroup upgraded National Grid from a “neutral” rating to a “buy” rating in a research report on Monday, June 3rd. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average 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.