CIBC Asset Management Inc Sells 4,633 Shares of National Grid plc (NYSE:NGG)

CIBC Asset Management Inc lessened its stake in shares of National Grid plc (NYSE:NGG) by 4.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 90,345 shares of the utilities provider’s stock after selling 4,633 shares during the period. CIBC Asset Management Inc’s holdings in National Grid were worth $6,291,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in NGG. Headlands Technologies LLC bought a new position in shares of National Grid during the 1st quarter valued at about $27,000. Bessemer Group Inc. bought a new position in shares of National Grid during the 1st quarter valued at about $29,000. Rothschild Investment LLC bought a new position in shares of National Grid during the 2nd quarter valued at about $37,000. Fortitude Family Office LLC bought a new position in shares of National Grid during the 3rd quarter valued at about $37,000. Finally, Eastern Bank bought a new position in shares of National Grid during the 3rd quarter valued at about $42,000. Institutional investors own 4.68% of the company’s stock.

National Grid Trading Up 0.6 %

Shares of NYSE:NGG opened at $62.75 on Monday. The company has a quick ratio of 1.54, a current ratio of 1.61 and a debt-to-equity ratio of 1.18. National Grid plc has a 12 month low of $55.13 and a 12 month high of $73.40. The company has a 50-day moving average price of $66.92 and a 200 day moving average price of $64.39.

National Grid Announces Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Tuesday, January 14th. Investors of record on Friday, November 22nd will be given a $2.4939 dividend. This represents a yield of 4%. The ex-dividend date of this dividend is Friday, November 22nd.

Analysts Set New Price Targets

NGG has been the subject of several research reports. Citigroup downgraded shares of National Grid from a “buy” rating to a “neutral” rating in a report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft began coverage on shares of National Grid in a report on Wednesday, October 2nd. They issued a “buy” rating for the company. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, National Grid currently has an average rating of “Moderate Buy”.

National Grid Profile

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.