Fifth Third Bancorp Trims Stock Position in National Grid plc (NYSE:NGG)

Fifth Third Bancorp reduced its stake in shares of National Grid plc (NYSE:NGG) by 9.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,905 shares of the utilities provider’s stock after selling 859 shares during the quarter. Fifth Third Bancorp’s holdings in National Grid were worth $537,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Fairfield Bush & CO. purchased a new position in National Grid during the 1st quarter valued at $36,000. Tower Research Capital LLC TRC increased its position in National Grid by 57.0% during the 1st quarter. Tower Research Capital LLC TRC now owns 661 shares of the utilities provider’s stock valued at $45,000 after purchasing an additional 240 shares during the period. Exchange Traded Concepts LLC purchased a new position in National Grid during the 3rd quarter valued at $52,000. Planned Solutions Inc. purchased a new stake in shares of National Grid in the 4th quarter worth about $53,000. Finally, Penserra Capital Management LLC grew its position in shares of National Grid by 50.2% in the 4th quarter. Penserra Capital Management LLC now owns 910 shares of the utilities provider’s stock worth $54,000 after buying an additional 304 shares during the period. 4.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NGG has been the topic of a number of recent research reports. UBS Group raised shares of National Grid from a “neutral” rating to a “buy” rating in a research report on Monday, December 11th. Deutsche Bank Aktiengesellschaft raised shares of National Grid from a “hold” rating to a “buy” rating in a research report on Tuesday, January 16th. StockNews.com raised shares of National Grid from a “sell” rating to a “hold” rating in a research report on Wednesday. BNP Paribas raised shares of National Grid from an “underperform” rating to an “outperform” rating in a research report on Tuesday, April 2nd. Finally, Jefferies Financial Group upgraded shares of National Grid from a “hold” rating to a “buy” rating in a research note on Monday, February 5th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $1,201.67.

National Grid Trading Down 2.8 %

Shares of National Grid stock opened at $66.33 on Friday. The firm’s 50-day moving average is $66.98 and its 200 day moving average is $65.21. National Grid plc has a 1 year low of $56.40 and a 1 year high of $74.48. The company has a current ratio of 0.93, a quick ratio of 0.82 and a debt-to-equity ratio of 1.43.

About National Grid

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