Congress Wealth Management LLC DE Boosts Stake in National Grid plc (NYSE:NGG)

Congress Wealth Management LLC DE lifted its holdings in shares of National Grid plc (NYSE:NGG) by 6.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,678 shares of the utilities provider’s stock after purchasing an additional 230 shares during the quarter. Congress Wealth Management LLC DE’s holdings in National Grid were worth $219,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NGG. FMR LLC boosted its stake in National Grid by 77.3% during the third quarter. FMR LLC now owns 3,989,726 shares of the utilities provider’s stock worth $277,964,000 after buying an additional 1,739,566 shares during the period. Raymond James Financial Inc. acquired a new position in shares of National Grid in the 4th quarter worth approximately $67,324,000. Merewether Investment Management LP purchased a new position in shares of National Grid during the 3rd quarter worth approximately $66,535,000. ABC Arbitrage SA purchased a new stake in National Grid in the fourth quarter valued at approximately $21,706,000. Finally, Guardian Partners Inc. acquired a new position in National Grid during the fourth quarter worth $9,849,000. 4.68% of the stock is owned by institutional investors and hedge funds.

National Grid Stock Up 2.7 %

NGG stock opened at $65.66 on Monday. The company’s 50 day moving average price is $61.92 and its 200 day moving average price is $62.98. The firm has a market capitalization of $64.24 billion, a price-to-earnings ratio of 12.63, a PEG ratio of 5.64 and a beta of 0.63. National Grid plc has a fifty-two week low of $54.24 and a fifty-two week high of $72.21. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.54 and a current ratio of 1.61.

Wall Street Analyst Weigh In

NGG has been the topic of a number of recent research reports. Sanford C. Bernstein upgraded shares of National Grid from a “market perform” rating to an “outperform” rating in a research note on Monday, March 17th. StockNews.com raised shares of National Grid from a “sell” rating to a “hold” rating in a research report on Friday, March 7th. Finally, Citigroup raised National Grid from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 21st. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average 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.