Vestmark Advisory Solutions Inc. Acquires 13,006 Shares of National Grid Transco, PLC $NGG

Key Points

• Vestmark Advisory Solutions Inc. increased its stake in National Grid Transco by 170.3%, acquiring an additional 13,006 shares during the first quarter, bringing its total holdings to 20,642 shares valued at approximately $1.35 million.
• National Grid Transco's stock was recently rated with a consensus of “Moderate Buy” from analysts, with a target price of $80.40 amidst various ratings changes, including downgrades by Royal Bank Of Canada and Wall Street Zen.
• The company declared a semi-annual dividend of $2.0345, but has a high dividend payout ratio of 78.27%, which may raise concerns about sustainability.

Vestmark Advisory Solutions Inc. boosted its position in National Grid Transco, PLC (NYSE:NGG - Free Report) by 170.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 20,642 shares of the utilities provider's stock after purchasing an additional 13,006 shares during the quarter. Vestmark Advisory Solutions Inc.'s holdings in National Grid Transco were worth $1,354,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Federated Hermes Inc. raised its position in shares of National Grid Transco by 49.8% during the 1st quarter. Federated Hermes Inc. now owns 3,133,548 shares of the utilities provider's stock worth $205,592,000 after buying an additional 1,041,918 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of National Grid Transco by 19.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 1,372,417 shares of the utilities provider's stock worth $90,044,000 after buying an additional 228,179 shares in the last quarter. Merewether Investment Management LP raised its holdings in shares of National Grid Transco by 10.3% in the 4th quarter. Merewether Investment Management LP now owns 1,053,461 shares of the utilities provider's stock worth $62,597,000 after purchasing an additional 98,461 shares in the last quarter. LPL Financial LLC raised its holdings in shares of National Grid Transco by 13.1% in the 1st quarter. LPL Financial LLC now owns 883,960 shares of the utilities provider's stock worth $57,997,000 after purchasing an additional 102,388 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of 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 worth $41,968,000 after purchasing an additional 12,228 shares in the last quarter. 4.68% of the stock is currently owned by institutional investors.

National Grid Transco Price Performance

NGG remained flat at $71.43 on Friday. 206,120 shares of the company were exchanged, compared to its average volume of 877,660. The business has a 50-day moving average price of $71.70 and a 200 day moving average price of $68.66. National Grid Transco, PLC has a 52-week low of $55.82 and a 52-week high of $74.82. The stock has a market cap of $70.87 billion, a P/E ratio of 13.74, a price-to-earnings-growth ratio of 1.63 and a beta of 0.63. The company has a current ratio of 1.35, a quick ratio of 1.30 and a debt-to-equity ratio of 1.13.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. UBS Group downgraded shares of National Grid Transco from a "buy" rating to a "neutral" rating in a report on Tuesday, April 29th. Wall Street Zen downgraded shares of National Grid Transco from a "hold" rating to a "sell" rating in a report on Friday, May 16th. BNP Paribas Exane assumed coverage on shares of National Grid Transco in a report on Thursday, May 29th. They set an "outperform" rating and a $80.40 price target on the stock. Royal Bank Of Canada lowered shares of National Grid Transco from an "outperform" rating to a "sector perform" rating in a report on Wednesday, May 28th. Finally, BNP Paribas upgraded shares of National Grid Transco from an "outperform" rating to a "strong-buy" rating in a report on Thursday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target 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.