Veriti Management LLC Purchases 2,502 Shares of National Grid plc (NYSE:NGG)

Veriti Management LLC grew its stake in shares of National Grid plc (NYSE:NGGGet Rating) by 19.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,166 shares of the utilities provider’s stock after purchasing an additional 2,502 shares during the quarter. Veriti Management LLC’s holdings in National Grid were worth $1,166,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Bank of America Corp DE increased its position in shares of National Grid by 12.3% during the 4th quarter. Bank of America Corp DE now owns 2,968,920 shares of the utilities provider’s stock worth $214,713,000 after purchasing an additional 325,104 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of National Grid by 21.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,371,365 shares of the utilities provider’s stock worth $99,177,000 after purchasing an additional 245,263 shares during the last quarter. Morgan Stanley increased its position in shares of National Grid by 11.3% during the 3rd quarter. Morgan Stanley now owns 671,354 shares of the utilities provider’s stock worth $40,033,000 after purchasing an additional 68,087 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of National Grid by 0.6% during the 4th quarter. Envestnet Asset Management Inc. now owns 625,823 shares of the utilities provider’s stock worth $45,260,000 after purchasing an additional 3,474 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of National Grid by 2.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 574,848 shares of the utilities provider’s stock worth $41,573,000 after purchasing an additional 11,978 shares during the last quarter. 3.49% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts have weighed in on NGG shares. Deutsche Bank Aktiengesellschaft lowered National Grid from a “buy” rating to a “hold” rating in a research report on Monday, April 25th. Investec lowered National Grid to a “buy” rating in a report on Thursday, April 21st. StockNews.com raised National Grid from a “hold” rating to a “buy” rating in a report on Tuesday, June 14th. Finally, Berenberg Bank lowered National Grid from a “buy” rating to a “hold” rating in a report on Thursday, April 21st. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $1,136.67.

NGG opened at $64.02 on Thursday. The business has a fifty day simple moving average of $72.77 and a 200 day simple moving average of $73.28. National Grid plc has a 1 year low of $59.53 and a 1 year high of $80.20. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.70 and a current ratio of 0.73.

The company also recently declared a semi-annual dividend, which will be paid on Wednesday, August 17th. Investors of record on Monday, June 6th will be paid a $1.1573 dividend. The ex-dividend date is Friday, June 3rd. This represents a yield of 4.1%.

National Grid Company Profile (Get Rating)

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, and New York segments. The UK Electricity Transmission segment provides electricity transmission and construction work services in England and Wales.

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Institutional Ownership by Quarter for National Grid (NYSE:NGG)

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