QRG Capital Management Inc. Cuts Stock Position in National Grid plc (NYSE:NGG)

QRG Capital Management Inc. lowered its holdings in National Grid plc (NYSE:NGG - Free Report) by 48.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,040 shares of the utilities provider's stock after selling 48,149 shares during the period. QRG Capital Management Inc.'s holdings in National Grid were worth $3,556,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. BNP Paribas Financial Markets purchased a new position in shares of National Grid in the 1st quarter worth about $1,372,000. Capital International Investors purchased a new position in shares of National Grid in the 1st quarter valued at $86,218,000. Atria Investments Inc increased its holdings in National Grid by 19.3% during the 1st quarter. Atria Investments Inc now owns 61,319 shares of the utilities provider's stock valued at $4,183,000 after acquiring an additional 9,931 shares in the last quarter. Gradient Investments LLC boosted its stake in shares of National Grid by 8,101.0% in the second quarter. Gradient Investments LLC now owns 8,283 shares of the utilities provider's stock valued at $470,000 after purchasing an additional 8,182 shares during the period. Finally, O Shaughnessy Asset Management LLC increased its holdings in shares of National Grid by 54.6% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 17,185 shares of the utilities provider's stock worth $1,172,000 after acquiring an additional 6,070 shares during the period. 4.68% of the stock is owned by institutional investors.

National Grid Price Performance

NYSE:NGG traded up $0.22 during midday trading on Thursday, hitting $64.34. The stock had a trading volume of 527,555 shares, compared to its average volume of 528,809. National Grid plc has a one year low of $55.13 and a one year high of $73.40. The company has a quick ratio of 0.84, a current ratio of 0.91 and a debt-to-equity ratio of 1.41. The stock has a 50-day moving average of $67.43 and a 200 day moving average of $64.57.

Analysts Set New Price Targets

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