Sei Investments Co. Sells 23,099 Shares of National Grid plc (NGG)

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Sei Investments Co. lowered its stake in National Grid plc (NYSE:NGG) by 56.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 17,902 shares of the utilities provider’s stock after selling 23,099 shares during the quarter. Sei Investments Co.’s holdings in National Grid were worth $1,011,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of NGG. Delpha Capital Management LLC acquired a new stake in shares of National Grid in the fourth quarter valued at about $129,000. M Holdings Securities Inc. acquired a new stake in shares of National Grid in the fourth quarter valued at about $142,000. Aevitas Wealth Management Inc. acquired a new stake in shares of National Grid in the fourth quarter valued at about $154,000. Quadrant Capital Group LLC grew its stake in shares of National Grid by 708.2% in the first quarter. Quadrant Capital Group LLC now owns 3,451 shares of the utilities provider’s stock valued at $190,000 after buying an additional 3,024 shares in the last quarter. Finally, Ellington Management Group LLC acquired a new stake in shares of National Grid in the fourth quarter valued at about $200,000. Institutional investors and hedge funds own 5.39% of the company’s stock.

Shares of National Grid opened at $55.51 on Friday, according to MarketBeat Ratings. National Grid plc has a fifty-two week low of $51.44 and a fifty-two week high of $65.60. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.77 and a quick ratio of 0.73.

The firm also recently disclosed a semiannual dividend, which will be paid on Wednesday, August 15th. Shareholders of record on Friday, June 1st will be paid a dividend of $2.0606 per share. This represents a yield of 6.91%. The ex-dividend date is Thursday, May 31st. This is a positive change from National Grid’s previous semiannual dividend of $1.02. National Grid’s dividend payout ratio (DPR) is 103.82%.

A number of research firms have recently issued reports on NGG. Deutsche Bank reiterated a “neutral” rating on shares of National Grid in a research note on Friday, May 4th. UBS Group upgraded National Grid from a “sell” rating to a “neutral” rating in a research note on Wednesday, March 14th. ValuEngine lowered National Grid from a “hold” rating to a “sell” rating in a research note on Saturday, June 2nd. Zacks Investment Research lowered National Grid from a “buy” rating to a “hold” rating in a research note on Tuesday, March 27th. Finally, Societe Generale began coverage on National Grid in a research note on Monday, March 19th. They issued a “buy” rating for the company. Two analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $65.00.

National Grid Profile

National Grid plc transmits and distributes electricity and natural gas. It operates through UK Electricity Transmission, UK Gas Transmission, and US Regulated segments. The UK Electricity Transmission segment owns and operates electricity transmission networks, which comprise approximately 7,200 kilometers of overhead lines; 1,500 kilometers of underground cables; and 346 substations located in England and Wales.

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Institutional Ownership by Quarter for National Grid (NYSE:NGG)

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