Renaissance Technologies LLC Sells 194,900 Shares of National Grid plc (NYSE:NGG)

Renaissance Technologies LLC lowered its position in shares of National Grid plc (NYSE:NGG) by 6.0% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,065,885 shares of the utilities provider’s stock after selling 194,900 shares during the quarter. Renaissance Technologies LLC owned approximately 0.39% of National Grid worth $174,142,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Envestnet Asset Management Inc. grew its holdings in National Grid by 5.8% during the 4th quarter. Envestnet Asset Management Inc. now owns 1,286,459 shares of the utilities provider’s stock worth $87,466,000 after acquiring an additional 70,730 shares during the period. Capital International Investors acquired a new stake in shares of National Grid during the first quarter worth $86,218,000. Wells Fargo & Company MN increased its holdings in National Grid by 10.3% in the fourth quarter. Wells Fargo & Company MN now owns 1,215,723 shares of the utilities provider’s stock valued at $82,657,000 after purchasing an additional 113,208 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in National Grid by 0.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 670,631 shares of the utilities provider’s stock valued at $45,596,000 after buying an additional 5,934 shares during the period. Finally, Stifel Financial Corp boosted its holdings in National Grid by 11.6% during the fourth quarter. Stifel Financial Corp now owns 247,902 shares of the utilities provider’s stock worth $16,855,000 after buying an additional 25,673 shares during the last quarter. 4.68% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NGG has been the topic of a number of analyst reports. The Goldman Sachs Group upgraded shares of National Grid from a “neutral” rating to a “buy” rating in a research report on Wednesday, June 12th. Citigroup raised shares of National Grid from a “neutral” rating to a “buy” rating in a report on Monday, June 3rd. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy”.

National Grid Stock Performance

NYSE:NGG opened at $69.60 on Monday. National Grid plc has a twelve month low of $55.13 and a twelve month high of $73.40. The stock’s 50 day moving average price is $64.52 and its two-hundred day moving average price is $64.50. The company has a quick ratio of 0.84, a current ratio of 0.91 and a debt-to-equity ratio of 1.41.

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.