First Mercantile Trust Co. Has $648,000 Stock Holdings in National Grid plc (NYSE:NGG)

First Mercantile Trust Co. boosted its holdings in shares of National Grid plc (NYSE:NGG) by 7.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,963 shares of the utilities provider’s stock after buying an additional 873 shares during the period. First Mercantile Trust Co.’s holdings in National Grid were worth $648,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in NGG. Renaissance Technologies LLC raised its holdings in National Grid by 12.5% during the second quarter. Renaissance Technologies LLC now owns 5,973,068 shares of the utilities provider’s stock worth $317,648,000 after buying an additional 662,742 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in National Grid during the second quarter worth $17,018,000. Miller Howard Investments Inc. NY raised its holdings in National Grid by 195.4% during the second quarter. Miller Howard Investments Inc. NY now owns 288,300 shares of the utilities provider’s stock worth $15,332,000 after buying an additional 190,703 shares during the last quarter. Bank of America Corp DE raised its holdings in National Grid by 1.9% during the second quarter. Bank of America Corp DE now owns 3,484,323 shares of the utilities provider’s stock worth $185,296,000 after buying an additional 66,485 shares during the last quarter. Finally, Parametric Portfolio Associates LLC raised its holdings in National Grid by 11.5% during the second quarter. Parametric Portfolio Associates LLC now owns 618,291 shares of the utilities provider’s stock worth $32,881,000 after buying an additional 63,577 shares during the last quarter. Hedge funds and other institutional investors own 5.27% of the company’s stock.

Several research analysts have weighed in on NGG shares. Zacks Investment Research upgraded shares of National Grid from a “sell” rating to a “hold” rating in a report on Wednesday, July 24th. Credit Suisse Group upgraded shares of National Grid from a “neutral” rating to an “outperform” rating in a report on Thursday, October 17th. Finally, Deutsche Bank upgraded shares of National Grid from a “hold” rating to a “buy” rating in a report on Tuesday, July 23rd. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $61.00.

Shares of NGG stock traded down $0.07 on Friday, hitting $56.82. The stock had a trading volume of 8,903 shares, compared to its average volume of 738,857. The business has a 50 day moving average of $55.86 and a 200 day moving average of $53.29. The stock has a market cap of $42.12 billion, a price-to-earnings ratio of 14.92, a price-to-earnings-growth ratio of 11.14 and a beta of 0.44. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.87 and a quick ratio of 0.83. National Grid plc has a 12-month low of $46.36 and a 12-month high of $59.50.

National Grid Profile

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.

Featured Article: What is the return on assets (ROA) ratio?

Want to see what other hedge funds are holding NGG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for National Grid plc (NYSE:NGG).

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

Receive News & Ratings for National Grid Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for National Grid and related companies with MarketBeat.com's FREE daily email newsletter.