National Grid plc (NYSE:NGG) Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc trimmed its holdings in shares of National Grid plc (NYSE:NGG) by 13.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 77,954 shares of the utilities provider’s stock after selling 12,391 shares during the period. CIBC Asset Management Inc’s holdings in National Grid were worth $4,629,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of NGG. Fortitude Family Office LLC acquired a new position in shares of National Grid during the third quarter valued at $37,000. Eastern Bank acquired a new position in shares of National Grid during the third quarter valued at $42,000. Quantbot Technologies LP acquired a new position in shares of National Grid during the third quarter valued at $60,000. Addison Advisors LLC increased its holdings in shares of National Grid by 267.9% during the third quarter. Addison Advisors LLC now owns 986 shares of the utilities provider’s stock valued at $69,000 after purchasing an additional 718 shares during the period. Finally, GAMMA Investing LLC grew its holdings in National Grid by 22.3% during the fourth quarter. GAMMA Investing LLC now owns 1,229 shares of the utilities provider’s stock worth $73,000 after acquiring an additional 224 shares during the period. 4.68% of the stock is owned by institutional investors and hedge funds.

National Grid Price Performance

NYSE:NGG opened at $60.99 on Thursday. The business’s 50-day moving average price is $59.75 and its 200 day moving average price is $63.58. National Grid plc has a 52-week low of $55.13 and a 52-week high of $73.40. The company has a quick ratio of 1.54, a current ratio of 1.61 and a debt-to-equity ratio of 1.18.

Analysts Set New Price Targets

NGG has been the topic of a number of research analyst reports. Citigroup raised National Grid from a “neutral” rating to a “buy” rating in a report on Tuesday, January 21st. StockNews.com lowered National Grid from a “hold” rating to a “sell” rating in a report on Monday. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock 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.