Gabelli Funds LLC Sells 10,000 Shares of National Grid plc (NYSE:NGG)

Gabelli Funds LLC reduced its position in National Grid plc (NYSE:NGG) by 6.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 139,500 shares of the utilities provider’s stock after selling 10,000 shares during the period. Gabelli Funds LLC’s holdings in National Grid were worth $7,924,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Mayflower Financial Advisors LLC raised its holdings in National Grid by 4.5% during the first quarter. Mayflower Financial Advisors LLC now owns 3,681 shares of the utilities provider’s stock worth $251,000 after buying an additional 160 shares during the last quarter. RFP Financial Group LLC raised its holdings in shares of National Grid by 119.8% in the 1st quarter. RFP Financial Group LLC now owns 367 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 200 shares during the last quarter. Profund Advisors LLC lifted its position in National Grid by 3.0% in the 2nd quarter. Profund Advisors LLC now owns 7,003 shares of the utilities provider’s stock valued at $398,000 after acquiring an additional 203 shares in the last quarter. Dearborn Partners LLC boosted its stake in National Grid by 5.5% during the 1st quarter. Dearborn Partners LLC now owns 4,120 shares of the utilities provider’s stock valued at $281,000 after purchasing an additional 213 shares during the last quarter. Finally, Bailard Inc. increased its holdings in National Grid by 4.4% during the 2nd quarter. Bailard Inc. now owns 5,116 shares of the utilities provider’s stock worth $291,000 after purchasing an additional 217 shares in the last quarter. 4.68% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

NGG has been the topic of a number of recent research reports. The Goldman Sachs Group upgraded 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 note on Monday, June 3rd. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy”.

National Grid Stock Performance

NGG stock opened at $70.46 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. The firm has a market cap of $55.90 billion, a PE ratio of 14.44, a P/E/G ratio of 4.81 and a beta of 0.61. The business has a 50 day moving average of $65.54 and a 200-day moving average of $64.59. National Grid plc has a 12-month low of $55.13 and a 12-month high of $73.40.

National Grid Profile

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.