Granite Investment Advisors LLC reduced its position in shares of National Grid Transco, PLC (NYSE:NGG) by 13.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,502 shares of the utilities provider’s stock after selling 9,905 shares during the period. Granite Investment Advisors LLC’s holdings in National Grid Transco, PLC were worth $3,986,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Sheaff Brock Investment Advisors LLC raised its stake in National Grid Transco, PLC by 11.0% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 4,026 shares of the utilities provider’s stock worth $256,000 after buying an additional 400 shares during the period. Conning Inc. bought a new stake in National Grid Transco, PLC during the first quarter worth approximately $336,000. Cribstone Capital Management LLC raised its stake in National Grid Transco, PLC by 8.5% in the first quarter. Cribstone Capital Management LLC now owns 26,161 shares of the utilities provider’s stock worth $1,664,000 after buying an additional 2,054 shares during the period. M&T Bank Corp raised its stake in National Grid Transco, PLC by 55.3% in the first quarter. M&T Bank Corp now owns 60,587 shares of the utilities provider’s stock worth $3,846,000 after buying an additional 21,567 shares during the period. Finally, Wellington Management Group LLP raised its stake in National Grid Transco, PLC by 2.2% in the first quarter. Wellington Management Group LLP now owns 4,708 shares of the utilities provider’s stock worth $299,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 5.67% of the company’s stock.

National Grid Transco, PLC (NGG) opened at 63.37 on Friday. The company has a market cap of $43.61 billion, a price-to-earnings ratio of 4.27 and a beta of 0.45. National Grid Transco, PLC has a one year low of $60.08 and a one year high of $79.56. The firm has a 50-day moving average price of $62.58 and a 200 day moving average price of $66.60.

The company also recently disclosed a special dividend, which will be paid on Wednesday, August 16th. Shareholders of record on Friday, June 2nd will be given a dividend of $1.872 per share. This is a boost from National Grid Transco, PLC’s previous special dividend of $0.93. The ex-dividend date is Wednesday, May 31st.

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Several brokerages recently commented on NGG. Deutsche Bank AG lowered National Grid Transco, PLC from a “hold” rating to a “sell” rating in a research report on Thursday, June 8th. Royal Bank Of Canada lowered National Grid Transco, PLC from an “outperform” rating to a “sector perform” rating in a research report on Thursday, May 4th. Zacks Investment Research upgraded National Grid Transco, PLC from a “hold” rating to a “buy” rating and set a $72.00 target price on the stock in a research report on Tuesday, June 27th. BidaskClub upgraded National Grid Transco, PLC from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Finally, Berenberg Bank upgraded National Grid Transco, PLC from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Three analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $70.50.

About National Grid Transco, PLC

National Grid plc is an electricity and gas utility company focused on transmission and distribution activities in electricity and gas in both the United Kingdom and the United States. The Company’s segments include UK Electricity Transmission, which is engaged in high voltage electricity transmission networks in Great Britain; UK Gas Transmission, which is the gas transmission network in Great Britain and United Kingdom liquefied natural gas (LNG) storage activities; UK Gas Distribution, which includes approximately four of the eight regional networks of Great Britain’s gas distribution system, and US Regulated, which includes gas distribution networks, electricity distribution networks and high voltage electricity transmission networks in New York, and New England and electricity generation facilities in New York.

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

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