Federated Hermes Inc. Trims Position in National Grid plc (NYSE:NGG)

Federated Hermes Inc. cut its holdings in National Grid plc (NYSE:NGG - Free Report) by 21.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,091,630 shares of the utilities provider's stock after selling 575,724 shares during the quarter. Federated Hermes Inc. owned 0.21% of National Grid worth $124,285,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in NGG. Thrivent Financial for Lutherans purchased a new stake in National Grid in the 3rd quarter worth $248,000. Charles Schwab Investment Management Inc. grew its position in shares of National Grid by 134.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 61,827 shares of the utilities provider's stock valued at $4,307,000 after purchasing an additional 35,451 shares during the period. Quantbot Technologies LP purchased a new stake in shares of National Grid during the third quarter worth about $60,000. BNP Paribas Financial Markets acquired a new position in shares of National Grid during the 3rd quarter worth about $1,798,000. Finally, Townsquare Capital LLC acquired a new position in shares of National Grid during the 3rd quarter worth about $273,000. 4.68% of the stock is currently owned by hedge funds and other institutional investors.

National Grid Price Performance

NYSE NGG traded up $1.90 during trading hours on Friday, hitting $67.49. 522,940 shares of the company's stock traded hands, compared to its average volume of 640,668. The company has a market capitalization of $66.03 billion, a PE ratio of 12.98, a PEG ratio of 5.64 and a beta of 0.58. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.61 and a quick ratio of 1.54. National Grid plc has a 52-week low of $54.24 and a 52-week high of $72.21. The firm's 50-day moving average is $62.86 and its 200-day moving average is $62.73.

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Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. StockNews.com upgraded National Grid from a "sell" rating to a "hold" rating in a report on Friday, March 7th. Sanford C. Bernstein raised National Grid from a "market perform" rating to an "outperform" rating in a research note on Monday, March 17th. Finally, Citigroup raised National Grid from a "neutral" rating to a "buy" rating in a research note on Tuesday, January 21st. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy".

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.