CIBC Asset Management Inc Acquires 97,903 Shares of National Grid plc (NGG)
CIBC Asset Management Inc grew its holdings in National Grid plc (NYSE:NGG) by 245.5% in the 1st quarter, HoldingsChannel.com reports. The firm owned 137,783 shares of the utilities provider’s stock after purchasing an additional 97,903 shares during the quarter. CIBC Asset Management Inc’s holdings in National Grid were worth $7,692,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of NGG. Orrstown Financial Services Inc. acquired a new stake in National Grid in the first quarter valued at approximately $26,000. Riverview Trust Co acquired a new stake in National Grid in the first quarter valued at approximately $26,000. Private Capital Group LLC raised its holdings in National Grid by 136.8% in the first quarter. Private Capital Group LLC now owns 540 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 312 shares in the last quarter. Cornerstone Advisors Inc. raised its holdings in National Grid by 135.3% in the first quarter. Cornerstone Advisors Inc. now owns 553 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 318 shares in the last quarter. Finally, Liberty Wealth Management LLC acquired a new stake in National Grid in the fourth quarter valued at approximately $33,000. 5.51% of the stock is owned by institutional investors and hedge funds.
NGG stock opened at $54.22 on Wednesday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.79 and a current ratio of 0.85. National Grid plc has a twelve month low of $46.36 and a twelve month high of $59.82. The company has a market cap of $37.02 billion, a price-to-earnings ratio of 13.80, a P/E/G ratio of 10.43 and a beta of 0.43.
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National Grid Profile
National Grid plc transmits and distributes electricity and natural gas. It operates through UK Electricity Transmission, UK Gas Transmission, US Regulated, and National Grid Ventures and Other Activities segments. The UK Electricity Transmission segment owns and operates electricity transmission networks, which comprise approximately 7,200 kilometers of overhead lines; 1,560 kilometers of underground cables; and 346 substations in England and Wales, as well as Scottish electricity transmission systems.
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