Mediolanum International Funds Ltd Takes Position in National Grid plc (NYSE:NGG)

Mediolanum International Funds Ltd acquired a new stake in National Grid plc (NYSE:NGG) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 545,731 shares of the utilities provider’s stock, valued at approximately $38,021,000.

Other institutional investors also recently modified their holdings of the company. RFP Financial Group LLC boosted its stake in shares of National Grid by 119.8% in the 1st quarter. RFP Financial Group LLC now owns 367 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 200 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of National Grid during the 1st quarter valued at $27,000. Richardson Financial Services Inc. acquired a new position in shares of National Grid during the 1st quarter valued at $28,000. Bessemer Group Inc. acquired a new position in shares of National Grid during the 1st quarter valued at $29,000. Finally, Rothschild Investment LLC acquired a new position in shares of National Grid during the 2nd quarter valued at $37,000. 4.68% of the stock is owned by institutional investors.

National Grid Stock Performance

NGG traded down $0.52 during trading on Friday, hitting $65.82. 48,958 shares of the company’s stock were exchanged, compared to its average volume of 530,830. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.84 and a current ratio of 0.91. The business’s 50 day moving average is $67.57 and its two-hundred day moving average is $64.58. National Grid plc has a fifty-two week low of $55.13 and a fifty-two week high of $73.40.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on NGG. Citigroup downgraded shares of National Grid from a “buy” rating to a “neutral” rating in a research report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft began coverage on shares of National Grid in a research report on Wednesday, October 2nd. They set a “buy” rating on the stock. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, National Grid currently 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.