Connor Clark & Lunn Investment Management Ltd. Cuts Stake in National Grid plc (NYSE:NGG)

Connor Clark & Lunn Investment Management Ltd. lessened its stake in shares of National Grid plc (NYSE:NGG) by 83.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 41,326 shares of the utilities provider’s stock after selling 208,960 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in National Grid were worth $2,879,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in NGG. Ausbil Investment Management Ltd acquired a new position in shares of National Grid during the 3rd quarter worth approximately $62,421,000. Hsbc Holdings PLC grew its holdings in shares of National Grid by 11,704.2% during the 2nd quarter. Hsbc Holdings PLC now owns 650,060 shares of the utilities provider’s stock worth $36,917,000 after purchasing an additional 644,553 shares during the period. Mediolanum International Funds Ltd purchased a new position in National Grid during the third quarter worth about $38,021,000. Marshall Wace LLP acquired a new stake in National Grid in the 2nd quarter valued at approximately $29,097,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of National Grid in the third quarter valued at $12,222,000. 4.68% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently weighed in on NGG shares. Deutsche Bank Aktiengesellschaft started coverage on shares of National Grid in a report on Wednesday, October 2nd. They issued a “buy” rating for the company. Citigroup downgraded National Grid from a “buy” rating to a “neutral” rating in a report on Thursday, October 3rd. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, National Grid presently has a consensus rating of “Moderate Buy”.

National Grid Trading Up 0.0 %

Shares of National Grid stock opened at $63.11 on Monday. National Grid plc has a 12-month low of $55.13 and a 12-month high of $73.40. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.54 and a current ratio of 1.61. The company has a fifty day simple moving average of $66.32 and a 200-day simple moving average of $64.19.

National Grid Announces Dividend

The company also recently announced a semi-annual dividend, which will be paid on Tuesday, January 14th. Stockholders of record on Friday, November 22nd will be given a dividend of $2.4939 per share. This represents a dividend yield of 4%. The ex-dividend date is Friday, November 22nd.

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.