State Treasurer State of Michigan lowered its position in National Grid Transco, PLC (NYSE:NGG) by 73.9% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 39,587 shares of the utilities provider’s stock after selling 112,000 shares during the period. State Treasurer State of Michigan’s holdings in National Grid Transco, PLC were worth $2,483,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. BlueCrest Capital Management Ltd purchased a new position in National Grid Transco, PLC in the 2nd quarter valued at $448,000. Arrowstreet Capital Limited Partnership lifted its holdings in National Grid Transco, PLC by 172.2% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,263,824 shares of the utilities provider’s stock valued at $79,393,000 after purchasing an additional 799,514 shares in the last quarter. Wellington Management Group LLP lifted its holdings in National Grid Transco, PLC by 2.2% in the 1st quarter. Wellington Management Group LLP now owns 4,708 shares of the utilities provider’s stock valued at $299,000 after purchasing an additional 100 shares in the last quarter. First Trust Advisors LP lifted its holdings in National Grid Transco, PLC by 30.3% in the 2nd quarter. First Trust Advisors LP now owns 7,478 shares of the utilities provider’s stock valued at $470,000 after purchasing an additional 1,738 shares in the last quarter. Finally, Blair William & Co. IL purchased a new position in National Grid Transco, PLC in the 2nd quarter valued at $1,096,000. Institutional investors own 5.11% of the company’s stock.

A number of brokerages have weighed in on NGG. Zacks Investment Research upgraded National Grid Transco, PLC from a “sell” rating to a “hold” rating in a report on Wednesday, July 26th. BidaskClub upgraded National Grid Transco, PLC from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Berenberg Bank upgraded National Grid Transco, PLC from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Finally, HSBC Holdings plc upgraded National Grid Transco, PLC from a “hold” rating to a “buy” rating in a report on Thursday, July 13th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. National Grid Transco, PLC has a consensus rating of “Hold” and an average price target of $69.00.

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National Grid Transco, PLC Profile

National Grid plc is an electricity and gas utility company focused on transmission and distribution activities in electricity and gas in both the United Kingdom and the United States. The Company’s segments include UK Electricity Transmission, which is engaged in high voltage electricity transmission networks in Great Britain; UK Gas Transmission, which is the gas transmission network in Great Britain and United Kingdom liquefied natural gas (LNG) storage activities; UK Gas Distribution, which includes approximately four of the eight regional networks of Great Britain’s gas distribution system, and US Regulated, which includes gas distribution networks, electricity distribution networks and high voltage electricity transmission networks in New York, and New England and electricity generation facilities in New York.

Institutional Ownership by Quarter for National Grid Transco, PLC (NYSE:NGG)

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