Capital International Investors Sells 973,002 Shares of National Grid Transco, PLC $NGG

Key Points

• Capital International Investors sold 973,002 shares of National Grid Transco in Q3, cutting its stake by 99.2% to 8,123 shares valued at about $583,000.
• Institutional ownership of the stock is low at 4.68%, with several smaller funds modestly increasing or initiating positions during the quarter.
• Wall Street’s consensus is a "Hold" with an average target of $83.80—below the recent market price (opened $90.72)—reflecting mixed analyst views (4 Buy, 5 Hold, 1 Sell).

Capital International Investors decreased its holdings in shares of National Grid Transco, PLC (NYSE:NGG - Free Report) by 99.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,123 shares of the utilities provider's stock after selling 973,002 shares during the quarter. Capital International Investors' holdings in National Grid Transco were worth $583,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Salomon & Ludwin LLC grew its holdings in shares of National Grid Transco by 4,218.2% during the 3rd quarter. Salomon & Ludwin LLC now owns 475 shares of the utilities provider's stock valued at $35,000 after purchasing an additional 464 shares during the last quarter. ESL Trust Services LLC lifted its stake in National Grid Transco by 71.4% in the 3rd quarter. ESL Trust Services LLC now owns 480 shares of the utilities provider's stock valued at $35,000 after purchasing an additional 200 shares during the last quarter. Parkside Financial Bank & Trust boosted its position in National Grid Transco by 100.0% in the second quarter. Parkside Financial Bank & Trust now owns 526 shares of the utilities provider's stock valued at $39,000 after buying an additional 263 shares in the last quarter. Mather Group LLC. acquired a new stake in National Grid Transco in the third quarter valued at approximately $39,000. Finally, Bessemer Group Inc. grew its stake in shares of National Grid Transco by 127.0% during the third quarter. Bessemer Group Inc. now owns 588 shares of the utilities provider's stock worth $43,000 after buying an additional 329 shares during the last quarter. Institutional investors own 4.68% of the company's stock.

National Grid Transco Price Performance

NYSE NGG opened at $90.72 on Friday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.90 and a current ratio of 0.97. National Grid Transco, PLC has a twelve month low of $61.85 and a twelve month high of $94.64. The stock has a fifty day simple moving average of $86.38 and a 200 day simple moving average of $78.55.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on NGG shares. Citigroup reissued a "neutral" rating on shares of National Grid Transco in a report on Monday, January 26th. National Bank Financial set a $85.50 target price on National Grid Transco in a report on Friday, December 12th. Weiss Ratings reiterated a "hold (c)" rating on shares of National Grid Transco in a research report on Thursday, January 22nd. Morgan Stanley reissued an "overweight" rating on shares of National Grid Transco in a research note on Thursday, February 5th. Finally, BNP Paribas Exane cut National Grid Transco from an "outperform" rating to an "underperform" rating in a report on Monday, November 24th. Four analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $83.80.

National Grid Transco Profile

National Grid Transco NYSE: NGG is a utility company focused on the transmission and distribution of electricity and natural gas. The company builds, owns, operates and maintains large-scale energy infrastructure, including high-voltage electricity transmission lines, electricity distribution networks and high-pressure gas pipelines. Its core activities center on providing safe, reliable delivery of energy to residential, commercial and industrial customers while meeting regulatory requirements across its service territories.

Services provided by National Grid Transco encompass network operation and maintenance, system balancing and control, metering and connections, and capital investment in grid modernization and reliability projects.

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