Assetmark Inc. raised its holdings in National Grid plc (NYSE:NGG – Get Rating) by 406.6% during the third quarter, HoldingsChannel reports. The firm owned 1,530 shares of the utilities provider’s stock after buying an additional 1,228 shares during the period. Assetmark Inc.’s holdings in National Grid were worth $79,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently bought and sold shares of NGG. Fairfield Bush & CO. acquired a new position in shares of National Grid during the first quarter worth about $36,000. Bank of New York Mellon Corp increased its stake in shares of National Grid by 3.2% during the first quarter. Bank of New York Mellon Corp now owns 71,544 shares of the utilities provider’s stock worth $5,501,000 after acquiring an additional 2,222 shares during the period. BlackRock Inc. increased its stake in shares of National Grid by 8.2% during the first quarter. BlackRock Inc. now owns 397,048 shares of the utilities provider’s stock worth $30,521,000 after acquiring an additional 30,176 shares during the period. Cibc World Market Inc. increased its stake in shares of National Grid by 103.0% during the first quarter. Cibc World Market Inc. now owns 46,322 shares of the utilities provider’s stock worth $3,561,000 after acquiring an additional 23,501 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of National Grid by 5.5% during the first quarter. Dimensional Fund Advisors LP now owns 606,543 shares of the utilities provider’s stock worth $46,625,000 after acquiring an additional 31,695 shares during the period. 3.49% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research analysts have recently issued reports on NGG shares. Deutsche Bank Aktiengesellschaft boosted their price target on shares of National Grid from GBX 1,020 ($12.45) to GBX 1,070 ($13.06) in a research note on Friday, January 13th. Citigroup raised shares of National Grid from a “sell” rating to a “neutral” rating in a report on Tuesday, October 4th. JPMorgan Chase & Co. assumed coverage on shares of National Grid in a report on Tuesday, November 8th. They set an “overweight” rating on the stock. StockNews.com raised shares of National Grid from a “hold” rating to a “buy” rating in a report on Wednesday, November 16th. Finally, Morgan Stanley raised shares of National Grid from an “equal weight” rating to an “overweight” rating in a report on Friday, January 6th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, National Grid currently has an average rating of “Moderate Buy” and a consensus price target of $1,110.00.
National Grid Trading Up 0.2 %
National Grid Increases Dividend
The firm also recently declared a semi-annual dividend, which was paid on Wednesday, January 11th. Shareholders of record on Friday, November 25th were issued a $2.0929 dividend. This represents a dividend yield of 7.1%. The ex-dividend date was Wednesday, November 23rd. This is an increase from National Grid’s previous semi-annual dividend of $1.16.
National Grid Profile
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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