Addison Capital Co buys $2,400,125 stake in ITC Holdings Corp. (ITC)

ITC Holdings Corp. (ITC) : Addison Capital Co scooped up 40 additional shares in ITC Holdings Corp. during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 11, 2016. The investment management firm now holds a total of 53,018 shares of ITC Holdings Corp. which is valued at $2,400,125.ITC Holdings Corp. makes up approximately 2.11% of Addison Capital Co’s portfolio.

Other Hedge Funds, Including , 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.Bnp Paribas Arbitrage Sa boosted its stake in ITC in the latest quarter, The investment management firm added 2,240 additional shares and now holds a total of 2,604 shares of ITC Holdings Corp. which is valued at $118,404. 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. Beacon Financial Group sold out all of its stake in ITC during the most recent quarter. The investment firm sold 25,568 shares of ITC which is valued $1,162,577.

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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