Mediolanum International Funds Ltd Purchases New Stake in National Grid plc (NYSE:NGG)

Mediolanum International Funds Ltd purchased a new stake in National Grid plc (NYSE:NGG) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 545,731 shares of the utilities provider’s stock, valued at approximately $38,021,000. Mediolanum International Funds Ltd owned about 0.07% of National Grid as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the company. RFP Financial Group LLC boosted its holdings in National Grid by 119.8% during the first quarter. RFP Financial Group LLC now owns 367 shares of the utilities provider’s stock worth $25,000 after buying an additional 200 shares during the last quarter. Headlands Technologies LLC bought a new stake in National Grid in the 1st quarter valued at $27,000. Richardson Financial Services Inc. bought a new stake in National Grid in the 1st quarter valued at $28,000. Bessemer Group Inc. acquired a new position in shares of National Grid in the 1st quarter valued at approximately $29,000. Finally, Rothschild Investment LLC acquired a new position in shares of National Grid in the 2nd quarter valued at approximately $37,000. Institutional investors own 4.68% of the company’s stock.

National Grid Trading Down 0.8 %

NGG traded down $0.52 during trading on Friday, reaching $65.82. 48,958 shares of the company’s stock were exchanged, compared to its average volume of 530,830. National Grid plc has a one year low of $55.13 and a one year high of $73.40. The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.41. The firm has a fifty day moving average price of $67.57 and a two-hundred day moving average price of $64.58.

Analyst Ratings Changes

Several equities analysts have recently commented on NGG shares. Deutsche Bank Aktiengesellschaft initiated coverage on shares of National Grid in a research report on Wednesday, October 2nd. They issued a “buy” rating for the company. Citigroup lowered shares of National Grid from a “buy” rating to a “neutral” rating in a report on Thursday, October 3rd. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company 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.