Lockheed Martin Investment Management Co. Raises Position in National Grid Transco, PLC $NGG

Lockheed Martin Investment Management Co. grew its holdings in shares of National Grid Transco, PLC (NYSE:NGG) by 191.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 282,100 shares of the utilities provider’s stock after acquiring an additional 185,400 shares during the quarter. Lockheed Martin Investment Management Co.’s holdings in National Grid Transco were worth $20,500,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Bank of America Corp DE lifted its position in National Grid Transco by 21.5% during the second quarter. Bank of America Corp DE now owns 4,596,387 shares of the utilities provider’s stock valued at $342,017,000 after purchasing an additional 814,248 shares during the last quarter. Federated Hermes Inc. raised its position in National Grid Transco by 2.1% during the second quarter. Federated Hermes Inc. now owns 3,200,004 shares of the utilities provider’s stock valued at $238,112,000 after purchasing an additional 66,456 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in National Grid Transco by 23.0% during the second quarter. JPMorgan Chase & Co. now owns 2,041,602 shares of the utilities provider’s stock worth $151,916,000 after purchasing an additional 382,392 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of National Grid Transco by 29.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,774,746 shares of the utilities provider’s stock worth $132,059,000 after purchasing an additional 402,329 shares in the last quarter. Finally, Raymond James Financial Inc. increased its position in shares of National Grid Transco by 20.3% during the 2nd quarter. Raymond James Financial Inc. now owns 1,671,746 shares of the utilities provider’s stock valued at $124,395,000 after purchasing an additional 282,085 shares during the last quarter. Hedge funds and other institutional investors own 4.68% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on NGG. BNP Paribas Exane downgraded National Grid Transco from an “outperform” rating to an “underperform” rating in a research report on Monday, November 24th. Weiss Ratings restated a “hold (c)” rating on shares of National Grid Transco in a report on Wednesday, October 8th. National Bankshares set a $85.50 price target on shares of National Grid Transco in a research note on Friday, December 12th. Finally, Morgan Stanley assumed coverage on National Grid Transco in a report on Friday, December 12th. They issued an “overweight” rating and a $85.50 price objective on the stock. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $83.80.

National Grid Transco Stock Down 0.8%

National Grid Transco stock opened at $80.17 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.90 and a debt-to-equity ratio of 1.14. National Grid Transco, PLC has a 1-year low of $59.35 and a 1-year high of $81.00. The firm has a 50-day moving average of $77.20 and a 200-day moving average of $74.20.

National Grid Transco Announces Dividend

The firm also recently disclosed a dividend, which was paid on Tuesday, January 13th. Stockholders of record on Friday, November 21st were given a $1.0657 dividend. This represents a dividend yield of 284.0%. The ex-dividend date was Friday, November 21st.

About National Grid Transco

National Grid Transco (NYSE: NGG) is a utility company focused on the transmission and distribution of electricity and natural gas. The company builds, owns, operates and maintains large-scale energy infrastructure, including high-voltage electricity transmission lines, electricity distribution networks and high-pressure gas pipelines. Its core activities center on providing safe, reliable delivery of energy to residential, commercial and industrial customers while meeting regulatory requirements across its service territories.

Services provided by National Grid Transco encompass network operation and maintenance, system balancing and control, metering and connections, and capital investment in grid modernization and reliability projects.