Connor Clark & Lunn Investment Management Ltd. Has $2.88 Million Stake in National Grid plc (NYSE:NGG)

Connor Clark & Lunn Investment Management Ltd. cut its holdings in shares of National Grid plc (NYSE:NGG - Free Report) by 83.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 41,326 shares of the utilities provider's stock after selling 208,960 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in National Grid were worth $2,879,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of NGG. Prospera Private Wealth LLC increased its position in National Grid by 2.3% in the 3rd quarter. Prospera Private Wealth LLC now owns 14,641 shares of the utilities provider's stock worth $1,020,000 after purchasing an additional 331 shares during the last quarter. West Family Investments Inc. acquired a new position in National Grid in the third quarter worth approximately $202,000. Caprock Group LLC bought a new position in National Grid during the third quarter valued at approximately $455,000. Pathstone Holdings LLC lifted its stake in National Grid by 46.0% in the third quarter. Pathstone Holdings LLC now owns 36,202 shares of the utilities provider's stock valued at $2,522,000 after acquiring an additional 11,402 shares during the last quarter. Finally, AMG National Trust Bank bought a new stake in National Grid in the third quarter worth approximately $1,122,000. Hedge funds and other institutional investors own 4.68% of the company's stock.

National Grid Price Performance

Shares of NGG traded up $0.15 during mid-day trading on Monday, hitting $63.26. The company's stock had a trading volume of 639,891 shares, compared to its average volume of 538,687. National Grid plc has a one year low of $55.13 and a one year high of $73.40. The stock's 50-day moving average is $66.18 and its two-hundred day moving average is $64.14. The company has a quick ratio of 1.54, a current ratio of 1.61 and a debt-to-equity ratio of 1.18.

National Grid Dividend Announcement

The business also recently declared a semi-annual dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Friday, November 22nd will be given a $2.4939 dividend. The ex-dividend date is Friday, November 22nd. This represents a yield of 4%.

Analyst Upgrades and Downgrades

NGG has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft assumed coverage on National Grid in a research report on Wednesday, October 2nd. They issued a "buy" rating for the company. Citigroup lowered National Grid from a "buy" rating to a "neutral" rating in a report on Thursday, October 3rd. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, National Grid 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.