Reaves W H Co Inc Lowers stake in ITC Holdings Corp. (ITC)

ITC Holdings Corp. (ITC) : Reaves W H Co Inc reduced its stake in ITC Holdings Corp. by 15.43% during the most recent quarter end. The investment management company now holds a total of 1,937,535 shares of ITC Holdings Corp. which is valued at $90,405,383 after selling 353,375 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 3.25% of Reaves W H Co Inc’s portfolio.

Other Hedge Funds, Including , First Personal Financial Services boosted its stake in ITC in the latest quarter, The investment management firm added 45 additional shares and now holds a total of 445 shares of ITC Holdings Corp. which is valued at $20,563. ITC Holdings Corp. makes up approx 0.01% of First Personal Financial Services’s portfolio.Jaffetilchin Investment Partners reduced its stake in ITC by selling 3,080 shares or 40.51% in the most recent quarter. The Hedge Fund company now holds 4,523 shares of ITC which is valued at $209,144. ITC Holdings Corp. makes up approx 0.06% of Jaffetilchin Investment Partners’s portfolio. Her Majesty The Queen In Right Of The Province Of Alberta… added ITC to its portfolio by purchasing 167,000 company shares during the most recent quarter which is valued at $7,725,420. ITC Holdings Corp. makes up approx 0.10% of Her Majesty The Queen In Right Of The Province Of Alberta…’s portfolio. Goelzer Investment Management sold out all of its stake in ITC during the most recent quarter. The investment firm sold 83,308 shares of ITC which is valued $3,881,320. Independent Portfolio Consultants sold out all of its stake in ITC during the most recent quarter. The investment firm sold 1,645 shares of ITC which is valued $76,377.

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 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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