P Schoenfeld Asset Management Lp buys $35,521,118 stake in ITC Holdings Corp. (ITC)

ITC Holdings Corp. (ITC) : P Schoenfeld Asset Management Lp scooped up 74,213 additional shares in ITC Holdings Corp. during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 10, 2016. The investment management firm now holds a total of 763,895 shares of ITC Holdings Corp. which is valued at $35,521,118.ITC Holdings Corp. makes up approximately 4.93% of P Schoenfeld Asset Management Lp’s portfolio.

Other Hedge Funds, Including , Blackrock Advisors boosted its stake in ITC in the latest quarter, The investment management firm added 7,290 additional shares and now holds a total of 83,889 shares of ITC Holdings Corp. which is valued at $3,900,839.Maple-brown Abbott Ltd reduced its stake in ITC by selling 125,882 shares or 46.42% in the most recent quarter. The Hedge Fund company now holds 145,311 shares of ITC which is valued at $6,780,211. ITC Holdings Corp. makes up approx 2.08% of Maple-brown Abbott Ltd’s portfolio.Gabelli Funds boosted its stake in ITC in the latest quarter, The investment management firm added 8,000 additional shares and now holds a total of 134,000 shares of ITC Holdings Corp. which is valued at $6,196,160. ITC Holdings Corp. makes up approx 0.04% of Gabelli Funds’s portfolio. First Trust Advisors Lp added ITC to its portfolio by purchasing 1,321,282 company shares during the most recent quarter which is valued at $61,096,080. ITC Holdings Corp. makes up approx 0.19% of First Trust Advisors Lp’s portfolio.

ITC Holdings Corp. closed down -0.16 points or -0.34% at $46.9 with 4,16,729 shares getting traded on Friday. Post opening the session at $46.85, the shares hit an intraday low of $46.57 and an intraday high of $46.97 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, ITC Holdings Corp. reported $0.58 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.54. The company had revenue of $298.00 million for the quarter, compared to analysts expectations of $303.67 million. The company’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 EPS.

ITC Holdings Corp. is an independent electricity transmission company in the United States. The Company operates maintains and invests in transmission infrastructure. The Company’s customers include investor-owned utilities municipalities cooperatives power marketers and alternative energy suppliers. Its regional infrastructure includes four North Central Multi-Value Projects (MVPs) and the Thumb Loop Project. The Company’s subsidiaries operations include asset planning; engineering design and construction; maintenance and real time operations. The Asset Planning group uses system models and load forecasts to develop its system expansion capital plans. The Engineering Design and Construction group is engaged in the design equipment specifications maintenance plans and project engineering for capital operation and maintenance work. The Company develops and tracks preventive maintenance plans. Its real time operations include system and local balancing authoring operations.

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