Community Financial Services Group Lowers stake in ITC Holdings Corp. (ITC)

ITC Holdings Corp. (ITC) : Community Financial Services Group reduced its stake in ITC Holdings Corp. by 2.63% during the most recent quarter end. The investment management company now holds a total of 106,325 shares of ITC Holdings Corp. which is valued at $4,918,595 after selling 2,868 shares in ITC Holdings Corp. , the firm said in a disclosure report filed with the SEC on Aug 2, 2016.ITC Holdings Corp. makes up approximately 2.34% of Community Financial Services Group’s portfolio.

Other Hedge Funds, Including , Rdl Financial Inc sold out all of its stake in ITC during the most recent quarter. The investment firm sold 5,405 shares of ITC which is valued $250,035.Proficio Capital Partners reduced its stake in ITC by selling 39 shares or 7.66% in the most recent quarter. The Hedge Fund company now holds 470 shares of ITC which is valued at $21,738. ITC Holdings Corp. makes up approx 0.01% of Proficio Capital Partners’s portfolio.Msi Financial Services Inc reduced its stake in ITC by selling 5,474 shares or 52.16% in the most recent quarter. The Hedge Fund company now holds 5,020 shares of ITC which is valued at $230,016. ITC Holdings Corp. makes up approx 0.01% of Msi Financial Services Inc’s portfolio.

ITC Holdings Corp. closed down -0.03 points or -0.06% at $46.21 with 3,15,018 shares getting traded on Monday. Post opening the session at $46.3, the shares hit an intraday low of $46.11 and an intraday high of $46.39 and the price fluctuated in this range throughout the day.Shares ended Monday 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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