Nuveen Asset Management LLC Sells 212,918 Shares of National Grid plc (NYSE:NGG)

Nuveen Asset Management LLC reduced its holdings in National Grid plc (NYSE:NGG - Free Report) by 29.5% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 509,369 shares of the utilities provider's stock after selling 212,918 shares during the quarter. Nuveen Asset Management LLC owned 0.05% of National Grid worth $30,267,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in NGG. Whipplewood Advisors LLC bought a new position in shares of National Grid in the 4th quarter worth $25,000. Brown Brothers Harriman & Co. increased its holdings in shares of National Grid by 67.6% in the 4th quarter. Brown Brothers Harriman & Co. now owns 491 shares of the utilities provider's stock worth $29,000 after buying an additional 198 shares during the last quarter. Larson Financial Group LLC increased its holdings in shares of National Grid by 145.6% in the 4th quarter. Larson Financial Group LLC now owns 700 shares of the utilities provider's stock worth $42,000 after buying an additional 415 shares during the last quarter. Rothschild Investment LLC increased its holdings in shares of National Grid by 36.2% in the 4th quarter. Rothschild Investment LLC now owns 723 shares of the utilities provider's stock worth $43,000 after buying an additional 192 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp bought a new position in shares of National Grid in the 4th quarter worth $53,000. 4.68% of the stock is currently owned by institutional investors.

National Grid Price Performance

NGG stock opened at $73.57 on Thursday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.54 and a current ratio of 1.61. National Grid plc has a 52 week low of $54.24 and a 52 week high of $74.82. The firm's fifty day moving average is $68.55 and its 200 day moving average is $63.65. The firm has a market cap of $71.98 billion, a P/E ratio of 14.15, a P/E/G ratio of 5.64 and a beta of 0.63.

National Grid Cuts Dividend

The business also recently declared a semi-annual dividend, which will be paid on Monday, July 28th. Investors of record on Friday, May 30th will be given a dividend of $2.0345 per share. The ex-dividend date is Friday, May 30th. This represents a yield of 4.7%. National Grid's payout ratio is 38.65%.

Wall Street Analysts Forecast Growth

NGG has been the topic of several recent research reports. StockNews.com lowered National Grid from a "hold" rating to a "sell" rating in a research report on Friday, May 16th. Barclays reiterated an "overweight" rating on shares of National Grid in a research report on Friday, May 16th. Sanford C. Bernstein upgraded National Grid from a "market perform" rating to an "outperform" rating in a research report on Monday, March 17th. UBS Group lowered National Grid from a "buy" rating to a "neutral" rating in a research report on Tuesday, April 29th. Finally, Citigroup reaffirmed a "neutral" rating on shares of National Grid in a report on Tuesday, May 6th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold".

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.