First Mercantile Trust Co. cut its stake in shares of National Grid Transco, PLC (NYSE:NGG) by 40.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,140 shares of the utilities provider’s stock after selling 13,161 shares during the period. First Mercantile Trust Co.’s holdings in National Grid Transco, PLC were worth $1,202,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Bronfman E.L. Rothschild L.P. increased its stake in National Grid Transco, PLC by 66.1% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,928 shares of the utilities provider’s stock worth $122,000 after buying an additional 767 shares in the last quarter. Lipe & Dalton purchased a new stake in National Grid Transco, PLC during the first quarter worth $154,000. American Trust Investment Advisors LLC purchased a new stake in National Grid Transco, PLC during the first quarter worth $207,000. Bainco International Investors purchased a new stake in National Grid Transco, PLC during the first quarter worth $207,000. Finally, Cypress Wealth Advisors LLC purchased a new stake in National Grid Transco, PLC during the first quarter worth $214,000. 5.67% of the stock is owned by institutional investors and hedge funds.

Shares of National Grid Transco, PLC (NGG) opened at 62.88 on Friday. The firm has a 50 day moving average price of $62.54 and a 200 day moving average price of $66.59. The stock has a market cap of $43.28 billion, a PE ratio of 4.23 and a beta of 0.45. National Grid Transco, PLC has a 12-month low of $60.08 and a 12-month high of $79.56.

The business also recently disclosed a special dividend, which will be paid on Wednesday, August 16th. Shareholders of record on Friday, June 2nd will be given a dividend of $1.872 per share. The ex-dividend date of this dividend is Wednesday, May 31st. This is an increase from National Grid Transco, PLC’s previous special dividend of $0.93.

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NGG has been the subject of a number of analyst reports. Zacks Investment Research downgraded National Grid Transco, PLC from a “buy” rating to a “hold” rating in a research note on Saturday, June 24th. Berenberg Bank upgraded National Grid Transco, PLC from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. BidaskClub cut National Grid Transco, PLC from a “buy” rating to a “hold” rating in a report on Thursday, June 22nd. Citigroup Inc. upgraded National Grid Transco, PLC from a “neutral” rating to a “buy” rating in a report on Tuesday, June 20th. Finally, HSBC Holdings plc cut National Grid Transco, PLC from a “buy” rating to a “hold” rating in a report on Wednesday, June 21st. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. National Grid Transco, PLC currently has an average rating of “Hold” and a consensus target price of $70.50.

National Grid Transco, PLC Company 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.

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

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