Todd Asset Management LLC reduced its stake in shares of National Grid plc (NYSE:NGG) by 1.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,574 shares of the utilities provider’s stock after selling 235 shares during the quarter. Todd Asset Management LLC’s holdings in National Grid were worth $1,316,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Orrstown Financial Services Inc. bought a new stake in shares of National Grid in the first quarter valued at about $26,000. Riverview Trust Co bought a new position in National Grid in the first quarter worth about $26,000. Private Capital Group LLC raised its holdings in National Grid by 136.8% in the first quarter. Private Capital Group LLC now owns 540 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 312 shares in the last quarter. Cornerstone Advisors Inc. raised its holdings in National Grid by 135.3% in the first quarter. Cornerstone Advisors Inc. now owns 553 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 318 shares in the last quarter. Finally, Liberty Wealth Management LLC bought a new position in National Grid in the fourth quarter worth about $33,000. 5.67% of the stock is owned by hedge funds and other institutional investors.

NGG has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of National Grid from a “sell” rating to a “buy” rating and set a $61.00 target price for the company in a report on Wednesday, February 13th. Barclays initiated coverage on shares of National Grid in a report on Wednesday, January 30th. They issued an “overweight” rating for the company. Finally, Royal Bank of Canada upgraded shares of National Grid from a “sector perform” rating to an “outperform” rating in a report on Wednesday, February 6th.

Shares of NGG stock traded down $0.41 during trading hours on Thursday, reaching $51.09. 55,274 shares of the company’s stock were exchanged, compared to its average volume of 438,600. National Grid plc has a 1 year low of $46.36 and a 1 year high of $59.29. The firm has a market capitalization of $35.01 billion, a price-to-earnings ratio of 13.45, a PEG ratio of 9.95 and a beta of 0.43. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.83 and a current ratio of 0.87.

The firm also recently declared a semiannual dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Friday, May 31st will be paid a dividend of $2.0256 per share. The ex-dividend date is Thursday, May 30th. National Grid’s payout ratio is 54.83%.

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About National Grid

National Grid plc transmits and distributes electricity and natural gas. It operates through UK Electricity Transmission, UK Gas Transmission, US Regulated, and National Grid Ventures and Other Activities segments. The UK Electricity Transmission segment owns and operates electricity transmission networks, which comprise approximately 7,200 kilometers of overhead lines; 1,560 kilometers of underground cables; and 346 substations in England and Wales, as well as Scottish electricity transmission systems.

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

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