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. lessened its stake in shares of National Grid Transco, PLC (NYSE:NGG - Free Report) by 8.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 72,813 shares of the utilities provider's stock after selling 6,689 shares during the period. Russell Investments Group Ltd.'s holdings in National Grid Transco were worth $4,777,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. NewEdge Advisors LLC lifted its position in shares of National Grid Transco by 6.0% in the fourth quarter. NewEdge Advisors LLC now owns 7,796 shares of the utilities provider's stock valued at $463,000 after acquiring an additional 440 shares in the last quarter. First Trust Advisors LP acquired a new position in National Grid Transco in the 4th quarter valued at $1,023,000. Dimensional Fund Advisors LP lifted its holdings in National Grid Transco by 1.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 706,290 shares of the utilities provider's stock valued at $41,968,000 after purchasing an additional 12,228 shares in the last quarter. MML Investors Services LLC boosted its stake in National Grid Transco by 3.5% during the 4th quarter. MML Investors Services LLC now owns 76,582 shares of the utilities provider's stock worth $4,550,000 after purchasing an additional 2,622 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its stake in National Grid Transco by 5.7% during the 4th quarter. Hsbc Holdings PLC now owns 5,285 shares of the utilities provider's stock worth $313,000 after purchasing an additional 283 shares during the last quarter. 4.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on NGG. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of National Grid Transco in a research note on Wednesday, May 21st. BNP Paribas Exane started 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. Citigroup restated a "neutral" rating on shares of National Grid Transco in a report on Tuesday, May 6th. BNP Paribas raised National Grid Transco from an "outperform" rating to a "strong-buy" rating in a report on Thursday, May 29th. Finally, Barclays reiterated an "overweight" rating on shares of National Grid Transco in a research report on Friday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $80.40.

National Grid Transco Trading Down 0.1%

National Grid Transco stock traded down $0.0390 during mid-day trading on Friday, hitting $71.3910. The company's stock had a trading volume of 435,376 shares, compared to its average volume of 682,936. The stock's fifty day moving average is $71.68 and its two-hundred day moving average is $68.77. 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 $70.84 billion, a PE ratio of 13.73, a price-to-earnings-growth ratio of 1.62 and a beta of 0.63. National Grid Transco, PLC has a 1 year low of $55.82 and a 1 year high of $74.82.

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.