Havens Advisors adds ITC Holdings Corp. (ITC) to its portfolio

ITC Holdings Corp. (ITC) : Havens Advisors added new position in ITC Holdings Corp. during the most recent quarter end. The investment management firm now holds 87,000 shares of ITC Holdings Corp. which is valued at $3,958,500 , the company said in a statement filed on Oct 13, 2016 with the SEC.ITC Holdings Corp. makes up approximately 3.16% of Havens Advisors’s portfolio.

Other Hedge Funds, Including , Msi Financial Services Inc reduced its stake in ITC by selling 1,372 shares or 27.33% in the most recent quarter. The Hedge Fund company now holds 3,648 shares of ITC which is valued at $165,984. ITC Holdings Corp. makes up approx 0.01% of Msi Financial Services Inc’s portfolio.Creative Planning boosted its stake in ITC in the latest quarter, The investment management firm added 200 additional shares and now holds a total of 5,542 shares of ITC Holdings Corp. which is valued at $252,604. Nisa Investment Advisors sold out all of its stake in ITC during the most recent quarter. The investment firm sold 125,980 shares of ITC which is valued $5,742,168.Advisory Services Network reduced its stake in ITC by selling 448 shares or 4.35% in the most recent quarter. The Hedge Fund company now holds 9,842 shares of ITC which is valued at $444,760. ITC Holdings Corp. makes up approx 0.08% of Advisory Services Network’s portfolio. Washington Trust Bank sold out all of its stake in ITC during the most recent quarter. The investment firm sold 40 shares of ITC which is valued $1,819.

ITC Holdings Corp. opened for trading at $45.4 and hit $45.6 on the upside on Tuesday, eventually ending the session at $45.58, with a gain of 0.68% or 0.31 points. The heightened volatility saw the trading volume jump to 15,97,076 shares. Company has a market cap of $6,991 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 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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