Bank of Montreal Can Sells 88,096 Shares of National Grid plc (NYSE:NGG)

Bank of Montreal Can lowered its position in National Grid plc (NYSE:NGG) by 15.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 465,298 shares of the utilities provider’s stock after selling 88,096 shares during the quarter. Bank of Montreal Can’s holdings in National Grid were worth $27,648,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new position in National Grid in the fourth quarter worth about $67,324,000. FMR LLC lifted its stake in shares of National Grid by 11.9% in the 4th quarter. FMR LLC now owns 4,462,898 shares of the utilities provider’s stock worth $265,185,000 after purchasing an additional 473,172 shares during the period. ABC Arbitrage SA purchased a new position in shares of National Grid in the fourth quarter worth approximately $21,706,000. Guardian Partners Inc. bought a new stake in National Grid during the fourth quarter valued at approximately $9,849,000. Finally, Summit Global Investments increased its holdings in National Grid by 166.7% during the fourth quarter. Summit Global Investments now owns 120,327 shares of the utilities provider’s stock valued at $7,150,000 after buying an additional 75,210 shares during the last quarter. Hedge funds and other institutional investors own 4.68% of the company’s stock.

National Grid Price Performance

NYSE NGG opened at $65.66 on Friday. The company has a current ratio of 1.61, a quick ratio of 1.54 and a debt-to-equity ratio of 1.18. National Grid plc has a 12 month low of $54.24 and a 12 month high of $72.21. The stock has a market cap of $64.25 billion, a price-to-earnings ratio of 12.63, a PEG ratio of 5.64 and a beta of 0.58. The company’s 50 day moving average is $62.86 and its two-hundred day moving average is $62.73.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. StockNews.com upgraded shares of National Grid from a “sell” rating to a “hold” rating in a research note on Friday, March 7th. Sanford C. Bernstein raised National Grid from a “market perform” rating to an “outperform” rating in a report on Monday, March 17th. Finally, Citigroup raised National Grid from a “neutral” rating to a “buy” rating in a report on Tuesday, January 21st. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.

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.