ITC Holdings Corp. (ITC) : Farallon Capital Management scooped up 289,814 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 15, 2016. The investment management firm now holds a total of 1,800,214 shares of ITC Holdings Corp. which is valued at $83,709,951.ITC Holdings Corp. makes up approximately 1.56% of Farallon Capital Management’s portfolio.
Other Hedge Funds, Including , Electron Capital Partners sold out all of its stake in ITC during the most recent quarter. The investment firm sold 117,080 shares of ITC which is valued $5,444,220. Edgestream Partners added ITC to its portfolio by purchasing 10,495 company shares during the most recent quarter which is valued at $488,018. ITC Holdings Corp. makes up approx 0.65% of Edgestream Partners’s portfolio.First Eagle Investment Management boosted its stake in ITC in the latest quarter, The investment management firm added 522,893 additional shares and now holds a total of 2,026,125 shares of ITC Holdings Corp. which is valued at $94,538,993. ITC Holdings Corp. makes up approx 0.23% of First Eagle Investment Management’s portfolio. Janney Montgomery Scott added ITC to its portfolio by purchasing 54,582 company shares during the most recent quarter which is valued at $2,523,872. ITC Holdings Corp. makes up approx 0.04% of Janney Montgomery Scott’s portfolio.
ITC Holdings Corp. opened for trading at $45.16 and hit $45.55 on the upside on Thursday, eventually ending the session at $45.55, with a gain of 0.73% or 0.33 points. The heightened volatility saw the trading volume jump to 5,42,954 shares. Company has a market cap of $6,986 M.
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 Companys 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 Companys 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.