Icon Wealth Advisors LLC Buys 36,243 Shares of National Grid plc (NYSE:NGG)

Icon Wealth Advisors LLC raised its stake in shares of National Grid plc (NYSE:NGG) by 1,620.2% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 38,480 shares of the utilities provider’s stock after buying an additional 36,243 shares during the quarter. Icon Wealth Advisors LLC’s holdings in National Grid were worth $2,681,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Bessemer Group Inc. purchased a new stake in shares of National Grid in the first quarter worth $29,000. Fortitude Family Office LLC bought a new position in National Grid in the 3rd quarter worth about $37,000. Eastern Bank purchased a new stake in shares of National Grid in the 3rd quarter valued at about $42,000. Rothschild Investment LLC bought a new stake in shares of National Grid during the 2nd quarter valued at about $37,000. Finally, Pathway Financial Advisers LLC purchased a new position in shares of National Grid during the first quarter worth about $53,000. 4.68% of the stock is currently owned by institutional investors.

National Grid Stock Performance

Shares of NYSE NGG opened at $63.10 on Friday. The stock has a market cap of $61.66 billion, a price-to-earnings ratio of 13.01, a P/E/G ratio of 6.00 and a beta of 0.62. The stock’s 50-day moving average is $66.45 and its 200 day moving average is $64.31. 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 1-year low of $55.13 and a 1-year high of $73.40.

National Grid Dividend Announcement

The firm also recently disclosed a semi-annual dividend, which will be paid on Tuesday, January 14th. Stockholders of record on Friday, November 22nd will be issued a $2.4939 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a dividend yield of 4%. National Grid’s payout ratio is 102.06%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of National Grid in a research report on Wednesday, October 2nd. They set a “buy” rating for the company. Citigroup cut shares of National Grid from a “buy” rating to a “neutral” rating in a research report on Thursday, October 3rd. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy”.

National Grid Company 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.