ABC Arbitrage SA Makes New Investment in National Grid plc (NYSE:NGG)

ABC Arbitrage SA bought a new stake in shares of National Grid plc (NYSE:NGG) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 365,302 shares of the utilities provider’s stock, valued at approximately $21,706,000. National Grid accounts for 3.1% of ABC Arbitrage SA’s investment portfolio, making the stock its 6th largest position.

Several other institutional investors and hedge funds also recently modified their holdings of NGG. Pathstone Holdings LLC grew its holdings in shares of National Grid by 46.0% during the 3rd quarter. Pathstone Holdings LLC now owns 36,202 shares of the utilities provider’s stock valued at $2,522,000 after acquiring an additional 11,402 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of National Grid during the 3rd quarter worth $1,624,000. Icon Wealth Advisors LLC boosted its holdings in National Grid by 1,620.2% during the third quarter. Icon Wealth Advisors LLC now owns 38,480 shares of the utilities provider’s stock valued at $2,681,000 after acquiring an additional 36,243 shares during the period. Natixis Advisors LLC grew its holdings in National Grid by 51.9% in the 3rd quarter. Natixis Advisors LLC now owns 111,526 shares of the utilities provider’s stock valued at $7,770,000 after buying an additional 38,123 shares during the last quarter. Finally, National Bank of Canada FI increased its position in National Grid by 351.1% during the third quarter. National Bank of Canada FI now owns 207,116 shares of the utilities provider’s stock worth $14,429,000 after acquiring an additional 161,204 shares during the period. Institutional investors own 4.68% of the company’s stock.

Analyst Ratings Changes

Separately, Citigroup raised shares of National Grid from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 21st. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy”.

National Grid Stock Down 0.9 %

Shares of NYSE NGG opened at $60.73 on Friday. National Grid plc has a one year low of $55.13 and a one year high of $73.40. The business has a fifty day simple moving average of $59.77 and a 200 day simple moving average of $63.69. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.54 and a current ratio of 1.61.

About National Grid

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.