Addison Capital Co Lowers stake in ITC Holdings Corp. (ITC)

ITC Holdings Corp. (ITC) : Addison Capital Co reduced its stake in ITC Holdings Corp. by 0.37% during the most recent quarter end. The investment management company now holds a total of 53,068 shares of ITC Holdings Corp. which is valued at $2,290,946 after selling 195 shares in ITC Holdings Corp. , the firm said in a disclosure report filed with the SEC on Apr 11, 2016.ITC Holdings Corp. makes up approximately 1.73% of Addison Capital Co’s portfolio.

ITC Holdings Corp. opened for trading at $42.63 and hit $43.3 on the upside on Friday, eventually ending the session at $43.17, with a gain of 0.75% or 0.32 points. The heightened volatility saw the trading volume jump to 7,94,439 shares. Company has a market cap of $6,593 M.

Other Hedge Funds, Including , Creative Planning reduced its stake in ITC by selling 117 shares or 2.16% in the most recent quarter. The Hedge Fund company now holds 5,294 shares of ITC which is valued at $227,695. Proficio Capital Partners added ITC to its portfolio by purchasing 509 company shares during the most recent quarter which is valued at $21,892. ITC Holdings Corp. makes up approx 0.02% of Proficio Capital Partners’s portfolio. Deane Retirement Strategies sold out all of its stake in ITC during the most recent quarter. The investment firm sold 60,364 shares of ITC which is valued $2,596,256.Kistler-tiffany Companies boosted its stake in ITC in the latest quarter, The investment management firm added 1 additional shares and now holds a total of 326 shares of ITC Holdings Corp. which is valued at $14,021. ITC Holdings Corp. makes up approx 0.01% of Kistler-tiffany Companies’s portfolio.

On the company’s financial health, ITC Holdings Corp. reported $0.57 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Feb 25, 2016. Analyst had a consensus of $0.56. The company had revenue of $224.00 million for the quarter, compared to analysts expectations of $320.53 million. The company’s revenue was down -3.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.48 EPS.

Many Wall Street Analysts have commented on ITC Holdings Corp.. Deutsche Bank Downgraded ITC Holdings Corp. on Mar 15, 2016 to ” Hold”, Price Target of the shares are set at $43.ITC Holdings Corp. was Downgraded by Gabelli & Co to ” Hold” on Feb 26, 2016. ITC Holdings Corp. was Downgraded by Wells Fargo to ” Market Perform” on Feb 10, 2016.

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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