DAVENPORT & Co LLC Acquires 8,209 Shares of National Grid Transco, PLC $NGG

DAVENPORT & Co LLC lifted its holdings in shares of National Grid Transco, PLC (NYSE:NGG - Free Report) by 10.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 89,706 shares of the utilities provider's stock after purchasing an additional 8,209 shares during the quarter. DAVENPORT & Co LLC's holdings in National Grid Transco were worth $6,675,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Checchi Capital Advisers LLC boosted its position in shares of National Grid Transco by 6.9% during the 2nd quarter. Checchi Capital Advisers LLC now owns 3,483 shares of the utilities provider's stock worth $259,000 after acquiring an additional 226 shares in the last quarter. Hennessy Advisors Inc. boosted its position in shares of National Grid Transco by 5.9% during the 2nd quarter. Hennessy Advisors Inc. now owns 211,044 shares of the utilities provider's stock worth $15,704,000 after acquiring an additional 11,700 shares in the last quarter. QRG Capital Management Inc. boosted its position in shares of National Grid Transco by 50.0% during the 2nd quarter. QRG Capital Management Inc. now owns 83,182 shares of the utilities provider's stock worth $6,190,000 after acquiring an additional 27,741 shares in the last quarter. Hilltop National Bank acquired a new stake in shares of National Grid Transco during the 2nd quarter worth approximately $168,000. Finally, Trust Co. of Vermont boosted its position in shares of National Grid Transco by 526.2% during the 2nd quarter. Trust Co. of Vermont now owns 1,146 shares of the utilities provider's stock worth $85,000 after acquiring an additional 963 shares in the last quarter. 4.68% of the stock is owned by institutional investors.

National Grid Transco Stock Performance

Shares of National Grid Transco stock opened at $73.90 on Wednesday. National Grid Transco, PLC has a fifty-two week low of $55.82 and a fifty-two week high of $74.82. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.35 and a quick ratio of 1.30. The firm has a market capitalization of $73.33 billion, a P/E ratio of 14.21, a P/E/G ratio of 1.67 and a beta of 0.70. The company's 50 day moving average price is $71.19 and its two-hundred day moving average price is $70.81.

Analyst Ratings Changes

Several research firms recently issued reports on NGG. Zacks Research lowered shares of National Grid Transco from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 1st. Weiss Ratings reiterated a "hold (c)" rating on shares of National Grid Transco in a research report on Saturday, September 27th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $80.40.

National Grid Transco Company 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.

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