National Grid plc (NYSE:NGG) Shares Sold by GSB Wealth Management LLC

GSB Wealth Management LLC cut its position in shares of National Grid plc (NYSE:NGG) by 8.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 5,135 shares of the utilities provider’s stock after selling 500 shares during the quarter. GSB Wealth Management LLC’s holdings in National Grid were worth $358,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of NGG. Capital International Investors bought a new stake in National Grid in the first quarter worth about $86,218,000. Ausbil Investment Management Ltd acquired a new position in shares of National Grid in the 3rd quarter worth approximately $62,421,000. Hsbc Holdings PLC raised its holdings in shares of National Grid by 11,704.2% in the 2nd quarter. Hsbc Holdings PLC now owns 650,060 shares of the utilities provider’s stock worth $36,917,000 after purchasing an additional 644,553 shares in the last quarter. Mediolanum International Funds Ltd acquired a new stake in National Grid during the third quarter valued at approximately $38,021,000. Finally, Marshall Wace LLP bought a new stake in National Grid during the second quarter worth approximately $29,097,000. Institutional investors own 4.68% of the company’s stock.

National Grid Stock Performance

Shares of NGG opened at $65.07 on Thursday. The company’s fifty day moving average is $67.64 and its 200-day moving average is $64.59. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.84 and a current ratio of 0.91. National Grid plc has a 12 month low of $55.13 and a 12 month high of $73.40.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft assumed coverage on National Grid in a research report on Wednesday, October 2nd. They set a “buy” rating for the company. Citigroup lowered National Grid from a “buy” rating to a “neutral” rating in a research report on Thursday, October 3rd. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy”.

About National Grid

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.