Truist Financial Corp Has $23.18 Million Holdings in National Grid plc (NYSE:NGG)

Truist Financial Corp trimmed its position in shares of National Grid plc (NYSE:NGG) by 1.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 340,899 shares of the utilities provider’s stock after selling 3,829 shares during the period. Truist Financial Corp’s holdings in National Grid were worth $23,178,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Cetera Trust Company N.A bought a new stake in National Grid during the 4th quarter valued at approximately $51,000. Exchange Traded Concepts LLC bought a new stake in shares of National Grid in the third quarter valued at approximately $52,000. Planned Solutions Inc. bought a new stake in shares of National Grid in the fourth quarter valued at approximately $53,000. UMB Bank n.a. grew its stake in shares of National Grid by 22.7% in the fourth quarter. UMB Bank n.a. now owns 826 shares of the utilities provider’s stock worth $56,000 after acquiring an additional 153 shares during the last quarter. Finally, GAMMA Investing LLC bought a new position in National Grid during the fourth quarter worth $59,000. 4.68% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NGG has been the subject of a number of research reports. BNP Paribas raised shares of National Grid from an “underperform” rating to an “outperform” rating in a report on Tuesday, April 2nd. StockNews.com upgraded shares of National Grid from a “sell” rating to a “hold” rating in a research note on Wednesday, April 3rd. Deutsche Bank Aktiengesellschaft upgraded National Grid from a “hold” rating to a “buy” rating in a research note on Tuesday, January 16th. Finally, Jefferies Financial Group raised National Grid from a “hold” rating to a “buy” rating in a report on Monday, February 5th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,165.00.

National Grid Stock Performance

Shares of NGG stock opened at $67.14 on Tuesday. The firm has a fifty day moving average of $66.91 and a 200-day moving average of $65.83. National Grid plc has a 52-week low of $56.40 and a 52-week high of $74.48. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.82 and a current ratio of 0.93.

About National Grid

National Grid plc transmits and distributes electricity and gas. The company 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.