Ausbil Investment Management Ltd Invests $62.42 Million in National Grid plc (NYSE:NGG)

Ausbil Investment Management Ltd acquired a new position in National Grid plc (NYSE:NGG - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 895,953 shares of the utilities provider's stock, valued at approximately $62,421,000. National Grid makes up approximately 18.2% of Ausbil Investment Management Ltd's holdings, making the stock its biggest position. Ausbil Investment Management Ltd owned about 0.11% of National Grid at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. First Bank & Trust lifted its holdings in shares of National Grid by 3.0% during the 1st quarter. First Bank & Trust now owns 53,996 shares of the utilities provider's stock valued at $3,684,000 after buying an additional 1,590 shares during the period. Optas LLC lifted its holdings in National Grid by 5.3% in the first quarter. Optas LLC now owns 6,163 shares of the utilities provider's stock valued at $420,000 after acquiring an additional 308 shares during the period. LVW Advisors LLC bought a new stake in shares of National Grid during the 1st quarter valued at about $322,000. Allspring Global Investments Holdings LLC grew its stake in shares of National Grid by 7,995.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,862 shares of the utilities provider's stock valued at $127,000 after purchasing an additional 1,839 shares during the period. Finally, Naviter Wealth LLC increased its position in shares of National Grid by 7.8% during the 1st quarter. Naviter Wealth LLC now owns 16,325 shares of the utilities provider's stock valued at $1,114,000 after purchasing an additional 1,177 shares during the last quarter. Hedge funds and other institutional investors own 4.68% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NGG. Deutsche Bank Aktiengesellschaft began coverage on shares of National Grid in a research report on Wednesday, October 2nd. They set a "buy" rating for the company. Citigroup downgraded shares of National Grid from a "buy" rating to a "neutral" rating in a research report on Thursday, October 3rd. Two 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 presently has an average rating of "Moderate Buy".

National Grid Stock Performance

National Grid stock traded down $0.10 during midday trading on Thursday, hitting $66.34. The stock had a trading volume of 277,438 shares, compared to its average volume of 533,170. National Grid plc has a 52-week low of $55.13 and a 52-week high of $73.40. The company has a market capitalization of $52.64 billion, a PE ratio of 13.62, a P/E/G ratio of 4.50 and a beta of 0.61. The firm's fifty day moving average is $67.57 and its two-hundred day moving average is $64.58. The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.41.

National Grid Company 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.