National Grid plc (NYSE:NGG) Shares Sold by RNC Capital Management LLC

RNC Capital Management LLC lowered its stake in shares of National Grid plc (NYSE:NGG) by 12.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,228 shares of the utilities provider’s stock after selling 617 shares during the quarter. RNC Capital Management LLC’s holdings in National Grid were worth $251,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in NGG. GAMMA Investing LLC boosted its holdings in National Grid by 45.4% in the third quarter. GAMMA Investing LLC now owns 1,005 shares of the utilities provider’s stock worth $70,000 after purchasing an additional 314 shares during the period. Atomi Financial Group Inc. acquired a new position in National Grid in the third quarter worth $393,000. Hexagon Capital Partners LLC boosted its holdings in National Grid by 13.7% in the third quarter. Hexagon Capital Partners LLC now owns 3,685 shares of the utilities provider’s stock worth $257,000 after purchasing an additional 445 shares during the period. Marcum Wealth LLC acquired a new position in National Grid in the third quarter worth $209,000. Finally, Valeo Financial Advisors LLC acquired a new position in National Grid in the third quarter worth $205,000. Institutional investors and hedge funds own 4.68% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Citigroup raised shares of National Grid from a “neutral” rating to a “buy” rating in a report on Tuesday, January 21st. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy”.

National Grid Trading Down 0.3 %

Shares of NGG opened at $61.50 on Friday. National Grid plc has a 1 year low of $55.13 and a 1 year high of $73.40. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.61 and a quick ratio of 1.54. The firm has a fifty day moving average of $59.94 and a 200-day moving average of $63.73.

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.