PNC Financial Services Group Inc. Decreases Stock Position in National Grid plc (NYSE:NGG)

PNC Financial Services Group Inc. reduced its position in National Grid plc (NYSE:NGG) by 3.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 53,686 shares of the utilities provider’s stock after selling 1,696 shares during the quarter. PNC Financial Services Group Inc.’s holdings in National Grid were worth $3,190,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Whipplewood Advisors LLC purchased a new position in shares of National Grid in the fourth quarter valued at $25,000. Rothschild Investment LLC grew its position in shares of National Grid by 36.2% in the fourth quarter. Rothschild Investment LLC now owns 723 shares of the utilities provider’s stock valued at $43,000 after purchasing an additional 192 shares in the last quarter. Eastern Bank grew its position in shares of National Grid by 52.7% in the fourth quarter. Eastern Bank now owns 927 shares of the utilities provider’s stock valued at $55,000 after purchasing an additional 320 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of National Grid in the third quarter valued at $60,000. Finally, IFP Advisors Inc grew its position in shares of National Grid by 20.0% in the fourth quarter. IFP Advisors Inc now owns 1,043 shares of the utilities provider’s stock valued at $62,000 after purchasing an additional 174 shares in the last quarter. 4.68% of the stock is owned by hedge funds and other institutional investors.

National Grid Price Performance

National Grid stock opened at $62.31 on Friday. National Grid plc has a 52 week low of $55.13 and a 52 week high of $73.40. The business has a 50-day simple moving average of $60.62 and a 200 day simple moving average of $63.31. The company has a quick ratio of 1.54, a current ratio of 1.61 and a debt-to-equity ratio of 1.18. The stock has a market cap of $60.96 billion, a price-to-earnings ratio of 11.98, a PEG ratio of 5.64 and a beta of 0.63.

Wall Street Analyst Weigh In

NGG has been the subject of several recent research reports. Citigroup upgraded National Grid from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 21st. StockNews.com upgraded National Grid from a “sell” rating to a “hold” rating in a research report on Friday, March 7th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, National Grid 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.