Invesco Ltd. Sells 62,036 Shares of National Grid Transco, PLC $NGG

Key Points

• Invesco Ltd. has reduced its stake in National Grid Transco, PLC by 11.5%, now holding 475,233 shares worth approximately $31.18 million.
• Various institutional investors are actively trading NGG shares, with notable alterations including Guggenheim Capital's position increasing by 377.5%.
• Wall Street analysts have a generally positive outlook on National Grid Transco, with an average rating of "Moderate Buy" and a target price of $80.40.

Invesco Ltd. reduced its holdings in shares of National Grid Transco, PLC (NYSE:NGG - Free Report) by 11.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 475,233 shares of the utilities provider's stock after selling 62,036 shares during the quarter. Invesco Ltd.'s holdings in National Grid Transco were worth $31,180,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mayflower Financial Advisors LLC boosted its holdings in National Grid Transco by 4.0% during the first quarter. Mayflower Financial Advisors LLC now owns 3,649 shares of the utilities provider's stock worth $239,000 after purchasing an additional 140 shares during the last quarter. First Horizon Advisors Inc. boosted its holdings in National Grid Transco by 13.9% during the first quarter. First Horizon Advisors Inc. now owns 1,227 shares of the utilities provider's stock worth $81,000 after purchasing an additional 150 shares during the last quarter. Sage Rhino Capital LLC boosted its holdings in National Grid Transco by 3.6% during the first quarter. Sage Rhino Capital LLC now owns 4,524 shares of the utilities provider's stock worth $297,000 after purchasing an additional 156 shares during the last quarter. Gradient Investments LLC boosted its holdings in National Grid Transco by 2.0% during the first quarter. Gradient Investments LLC now owns 8,156 shares of the utilities provider's stock worth $535,000 after purchasing an additional 163 shares during the last quarter. Finally, Barry Investment Advisors LLC boosted its holdings in National Grid Transco by 1.9% during the first quarter. Barry Investment Advisors LLC now owns 9,246 shares of the utilities provider's stock worth $607,000 after purchasing an additional 172 shares during the last quarter. 4.68% of the stock is currently owned by hedge funds and other institutional investors.

National Grid Transco Stock Performance

Shares of NYSE NGG traded down $0.91 during midday trading on Monday, hitting $70.50. The company's stock had a trading volume of 320,861 shares, compared to its average volume of 677,036. The stock has a fifty day moving average price of $71.66 and a 200 day moving average price of $68.88. National Grid Transco, PLC has a one year low of $55.82 and a one year high of $74.82. The company has a current ratio of 1.35, a quick ratio of 1.30 and a debt-to-equity ratio of 1.13. The firm has a market capitalization of $69.95 billion, a price-to-earnings ratio of 13.56, a P/E/G ratio of 1.62 and a beta of 0.63.

Wall Street Analyst Weigh In

NGG has been the topic of several analyst reports. Barclays restated an "overweight" rating on shares of National Grid Transco in a report on Friday, May 16th. Citigroup reiterated a "neutral" rating on shares of National Grid Transco in a research note on Tuesday, May 6th. Wall Street Zen cut shares of National Grid Transco from a "hold" rating to a "sell" rating in a research note on Friday, May 16th. Royal Bank Of Canada cut shares of National Grid Transco from an "outperform" rating to a "sector perform" rating in a research note on Wednesday, May 28th. Finally, BNP Paribas Exane initiated coverage on shares of National Grid Transco in a research note on Thursday, May 29th. They issued an "outperform" rating and a $80.40 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, National Grid Transco currently has a consensus rating of "Moderate Buy" and a consensus target price of $80.40.

National Grid Transco 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.