National Grid plc (NYSE:NGG) Shares Sold by UMB Bank n.a.

UMB Bank n.a. lessened its stake in shares of National Grid plc (NYSE:NGG – Get Rating) by 26.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 944 shares of the utilities provider’s stock after selling 348 shares during the quarter. UMB Bank n.a.’s holdings in National Grid were worth $61,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in NGG. Guggenheim Capital LLC increased its stake in shares of National Grid by 7.3% during the fourth quarter. Guggenheim Capital LLC now owns 27,651 shares of the utilities provider’s stock valued at $2,000,000 after acquiring an additional 1,881 shares during the period. Cetera Investment Advisers lifted its holdings in shares of National Grid by 8.7% in the fourth quarter. Cetera Investment Advisers now owns 21,743 shares of the utilities provider’s stock valued at $1,572,000 after buying an additional 1,733 shares during the period. CIBC World Markets Inc. lifted its holdings in shares of National Grid by 6.2% in the fourth quarter. CIBC World Markets Inc. now owns 22,821 shares of the utilities provider’s stock valued at $1,650,000 after buying an additional 1,324 shares during the period. MML Investors Services LLC lifted its holdings in shares of National Grid by 2.5% in the fourth quarter. MML Investors Services LLC now owns 46,382 shares of the utilities provider’s stock valued at $3,354,000 after buying an additional 1,149 shares during the period. Finally, Laurel Wealth Advisors Inc. acquired a new position in shares of National Grid in the 4th quarter worth approximately $231,000. Institutional investors and hedge funds own 3.68% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on NGG shares. Credit Suisse Group lifted their price objective on shares of National Grid from GBX 1,200 ($14.50) to GBX 1,225 ($14.80) in a research note on Friday, June 24th. Citigroup upgraded National Grid from a “sell” rating to a “neutral” rating in a research report on Tuesday. StockNews.com downgraded National Grid from a “buy” rating to a “hold” rating in a research report on Monday, August 15th. Finally, Jefferies Financial Group cut National Grid from a “buy” rating to a “hold” rating in a research note on Thursday, June 30th. Eleven research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $1,145.00.

National Grid Stock Down 2.5 % Shares of National Grid stock opened at $52.51 on Thursday. National Grid plc has a 1 year low of $51.12 and a 1 year high of $80.20. The company has a market cap of $41.00 billion, a P/E ratio of 12.13, a P/E/G ratio of 1.84 and a beta of 0.57. The company has a current ratio of 0.73, a quick ratio of 0.70 and a debt-to-equity ratio of 1.40. The stock has a 50-day moving average price of $63.79 and a 200 day moving average price of $68.92. About National Grid

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National Grid plc transmits and distributes electricity and gas. The company operates through UK Electricity Transmission, UK Electricity Distribution, UK Electricity System Operator, New England, and New York segments. The UK Electricity Transmission segment provides electricity transmission and construction work services in England and Wales.

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