ITC Holdings Corp. (ITC) : Maple-brown Abbott Ltd reduced its stake in ITC Holdings Corp. by 46.42% during the most recent quarter end. The investment management company now holds a total of 145,311 shares of ITC Holdings Corp. which is valued at $6,780,211 after selling 125,882 shares in ITC Holdings Corp. , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.ITC Holdings Corp. makes up approximately 2.08% of Maple-brown Abbott Ltd’s portfolio.
Other Hedge Funds, Including , Sfe Investment Counsel reduced its stake in ITC by selling 3,652 shares or 12.91% in the most recent quarter. The Hedge Fund company now holds 24,640 shares of ITC which is valued at $1,139,846. ITC Holdings Corp. makes up approx 0.51% of Sfe Investment Counsel’s portfolio.United Bank Va reduced its stake in ITC by selling 4,031 shares or 8.54% in the most recent quarter. The Hedge Fund company now holds 43,180 shares of ITC which is valued at $1,978,508. ITC Holdings Corp. makes up approx 1.86% of United Bank Va’s portfolio.Creative Planning boosted its stake in ITC in the latest quarter, The investment management firm added 48 additional shares and now holds a total of 5,342 shares of ITC Holdings Corp. which is valued at $250,219.
ITC Holdings Corp. opened for trading at $46.46 and hit $46.99 on the upside on Wednesday, eventually ending the session at $46.69, with a gain of 0.73% or 0.34 points. The heightened volatility saw the trading volume jump to 5,46,586 shares. Company has a market cap of $7,161 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.