PNC Financial Services Group Inc. Sells 1,710 Shares of National Grid plc (NYSE:NGG)

PNC Financial Services Group Inc. lowered its stake in National Grid plc (NYSE:NGG) by 2.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 66,656 shares of the utilities provider’s stock after selling 1,710 shares during the quarter. PNC Financial Services Group Inc.’s holdings in National Grid were worth $4,532,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NGG. Cetera Trust Company N.A purchased a new stake in shares of National Grid in the fourth quarter worth $51,000. Planned Solutions Inc. purchased a new stake in National Grid during the 4th quarter valued at about $53,000. UMB Bank n.a. increased its stake in National Grid by 22.7% during the 4th quarter. UMB Bank n.a. now owns 826 shares of the utilities provider’s stock valued at $56,000 after purchasing an additional 153 shares in the last quarter. GAMMA Investing LLC purchased a new position in National Grid in the fourth quarter worth about $59,000. Finally, Headlands Technologies LLC bought a new position in shares of National Grid in the third quarter worth approximately $64,000. Institutional investors own 4.68% of the company’s stock.

National Grid Trading Down 1.7 %

NYSE:NGG opened at $60.68 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.93 and a debt-to-equity ratio of 1.43. The company has a 50 day simple moving average of $67.77 and a two-hundred day simple moving average of $66.97. National Grid plc has a 12 month low of $56.40 and a 12 month high of $73.40.

National Grid Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Friday, July 19th. Investors of record on Friday, June 7th will be given a dividend of $2.4939 per share. This represents a yield of 6%. The ex-dividend date is Friday, June 7th. This is a boost from National Grid’s previous semi-annual dividend of $1.19.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Jefferies Financial Group raised shares of National Grid from a “hold” rating to a “buy” rating in a research report on Monday, February 5th. StockNews.com raised National Grid from a “sell” rating to a “hold” rating in a report on Wednesday, April 3rd. Finally, BNP Paribas raised National Grid from an “underperform” rating to an “outperform” rating in a research report on Tuesday, April 2nd. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,050.00.

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.