Federated Hermes Inc. Trims Position in National Grid plc (NYSE:NGG)

Federated Hermes Inc. decreased its position in shares of National Grid plc (NYSE:NGG) by 21.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,091,630 shares of the utilities provider’s stock after selling 575,724 shares during the period. Federated Hermes Inc.’s holdings in National Grid were worth $124,285,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Oppenheimer & Co. Inc. lifted its position in shares of National Grid by 24.2% in the fourth quarter. Oppenheimer & Co. Inc. now owns 4,455 shares of the utilities provider’s stock valued at $265,000 after acquiring an additional 868 shares in the last quarter. XTX Topco Ltd purchased a new position in National Grid in the 3rd quarter worth approximately $1,624,000. National Bank of Canada FI boosted its stake in National Grid by 351.1% in the 3rd quarter. National Bank of Canada FI now owns 207,116 shares of the utilities provider’s stock worth $14,429,000 after purchasing an additional 161,204 shares during the period. Walleye Capital LLC purchased a new stake in National Grid during the 3rd quarter valued at approximately $962,000. Finally, Atria Wealth Solutions Inc. bought a new stake in shares of National Grid during the fourth quarter valued at approximately $239,000. Institutional investors own 4.68% of the company’s stock.

National Grid Trading Down 4.9 %

Shares of NGG opened at $66.01 on Friday. The stock has a market capitalization of $64.59 billion, a PE ratio of 12.69, a P/E/G ratio of 5.64 and a beta of 0.58. The company’s fifty day moving average is $62.53 and its 200 day moving average is $62.92. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.54 and a current ratio of 1.61. National Grid plc has a fifty-two week low of $54.24 and a fifty-two week high of $72.21.

Wall Street Analyst Weigh In

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