Clearbridge Investments LLC Sells 28,995 Shares of National Grid plc (NYSE:NGG)

Clearbridge Investments LLC reduced its position in shares of National Grid plc (NYSE:NGG) by 16.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 149,169 shares of the utilities provider’s stock after selling 28,995 shares during the quarter. Clearbridge Investments LLC’s holdings in National Grid were worth $8,864,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Whipplewood Advisors LLC acquired a new position in shares of National Grid during the fourth quarter worth approximately $25,000. Brown Brothers Harriman & Co. increased its stake in National Grid by 67.6% during the 4th quarter. Brown Brothers Harriman & Co. now owns 491 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 198 shares in the last quarter. Larson Financial Group LLC increased its stake in National Grid by 145.6% during the 4th quarter. Larson Financial Group LLC now owns 700 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 415 shares in the last quarter. Rothschild Investment LLC raised its holdings in National Grid by 36.2% during the fourth quarter. Rothschild Investment LLC now owns 723 shares of the utilities provider’s stock worth $43,000 after buying an additional 192 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp bought a new position in shares of National Grid in the fourth quarter valued at $53,000. Institutional investors own 4.68% of the company’s stock.

Wall Street Analyst Weigh In

NGG has been the topic of several recent research reports. Sanford C. Bernstein raised shares of National Grid from a “market perform” rating to an “outperform” rating in a research report on Monday, March 17th. Citigroup upgraded shares of National Grid from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 21st. Finally, StockNews.com raised shares of National Grid from a “sell” rating to a “hold” rating in a research report on Friday, March 7th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy”.

National Grid Stock Performance

Shares of NGG opened at $65.79 on Thursday. The stock has a 50 day moving average of $62.24 and a 200 day moving average of $62.95. The company has a market capitalization of $64.37 billion, a price-to-earnings ratio of 12.65, a PEG ratio of 5.64 and a beta of 0.63. National Grid plc has a 12 month low of $54.24 and a 12 month high of $72.21. 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 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.