National Grid Transco, PLC $NGG Shares Sold by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. reduced its stake in National Grid Transco, PLC by 8.4%, selling 6,689 shares, leaving them with 72,813 shares valued at approximately $4.77 million.
• Institutional investors are active in National Grid, with several making significant changes to their holdings, including Allspring Global Investments increasing its stake by 97.3%.
• Despite a mix of ratings from analysts, the average rating for National Grid Transco is a Moderate Buy, with a consensus price target set at $80.40.

Russell Investments Group Ltd. trimmed its position in shares of National Grid Transco, PLC (NYSE:NGG - Free Report) by 8.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 72,813 shares of the utilities provider's stock after selling 6,689 shares during the quarter. Russell Investments Group Ltd.'s holdings in National Grid Transco were worth $4,777,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Golden State Wealth Management LLC acquired a new position in shares of National Grid Transco during the first quarter worth about $28,000. SJS Investment Consulting Inc. acquired a new position in National Grid Transco during the first quarter worth about $29,000. Sound Income Strategies LLC grew its position in National Grid Transco by 197.3% during the first quarter. Sound Income Strategies LLC now owns 877 shares of the utilities provider's stock worth $58,000 after buying an additional 582 shares during the period. Bessemer Group Inc. grew its position in National Grid Transco by 216.8% during the first quarter. Bessemer Group Inc. now owns 960 shares of the utilities provider's stock worth $62,000 after buying an additional 657 shares during the period. Finally, TruNorth Capital Management LLC acquired a new position in National Grid Transco during the first quarter worth about $71,000. 4.68% of the stock is currently owned by institutional investors and hedge funds.

National Grid Transco Trading Up 1.0%

Shares of NGG traded up $0.71 on Wednesday, hitting $71.75. 478,585 shares of the stock traded hands, compared to its average volume of 580,744. The company has a quick ratio of 1.30, a current ratio of 1.35 and a debt-to-equity ratio of 1.13. The firm has a market capitalization of $71.19 billion, a P/E ratio of 13.80, a P/E/G ratio of 1.61 and a beta of 0.63. The stock's 50 day moving average is $71.66 and its two-hundred day moving average is $68.92. National Grid Transco, PLC has a 1 year low of $55.82 and a 1 year high of $74.82.

Wall Street Analyst Weigh In

Several research analysts have weighed in on NGG shares. Royal Bank Of Canada lowered shares of National Grid Transco from an "outperform" rating to a "sector perform" rating in a research report on Wednesday, May 28th. UBS Group lowered shares of National Grid Transco from a "buy" rating to a "neutral" rating in a research report on Tuesday, April 29th. Citigroup restated a "neutral" rating on shares of National Grid Transco in a research report on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of National Grid Transco in a research report on Wednesday, May 21st. Finally, Wall Street Zen downgraded shares of National Grid Transco from a "hold" rating to a "sell" rating in a report on Friday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $80.40.

About National Grid Transco

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.