Integrated Wealth Concepts LLC Cuts Stake in National Grid plc (NYSE:NGG)

Integrated Wealth Concepts LLC lowered its position in shares of National Grid plc (NYSE:NGG) by 3.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,162 shares of the utilities provider’s stock after selling 235 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in National Grid were worth $499,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of NGG. FMR LLC raised its position in National Grid by 77.3% during the 3rd quarter. FMR LLC now owns 3,989,726 shares of the utilities provider’s stock worth $277,964,000 after buying an additional 1,739,566 shares during the last quarter. Ausbil Investment Management Ltd purchased a new position in shares of National Grid in the 3rd quarter valued at about $62,421,000. Hsbc Holdings PLC increased its holdings in shares of National Grid by 11,704.2% in the 2nd quarter. Hsbc Holdings PLC now owns 650,060 shares of the utilities provider’s stock valued at $36,917,000 after purchasing an additional 644,553 shares in the last quarter. Mediolanum International Funds Ltd purchased a new position in shares of National Grid in the 3rd quarter valued at about $38,021,000. Finally, Marshall Wace LLP purchased a new position in shares of National Grid in the 2nd quarter valued at about $29,097,000. Hedge funds and other institutional investors own 4.68% of the company’s stock.

National Grid Price Performance

NYSE:NGG opened at $60.96 on Wednesday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.54 and a current ratio of 1.61. The firm has a 50-day moving average price of $64.74 and a two-hundred day moving average price of $63.55. National Grid plc has a twelve month low of $55.13 and a twelve month high of $73.40.

National Grid Dividend Announcement

The firm also recently announced a semi-annual dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Friday, November 22nd will be issued a dividend of $2.4939 per share. The ex-dividend date is Friday, November 22nd. This represents a yield of 4%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on NGG shares. Citigroup downgraded shares of National Grid from a “buy” rating to a “neutral” rating in a report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft started coverage on shares of National Grid in a report on Wednesday, October 2nd. They issued a “buy” rating for the company. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, National Grid 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.