Indexiq Advisors buys $3,134,054 stake in ITC Holdings Corp. (ITC)

ITC Holdings Corp. (ITC) : Indexiq Advisors scooped up 34,365 additional shares in ITC Holdings Corp. during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 11, 2016. The investment management firm now holds a total of 67,399 shares of ITC Holdings Corp. which is valued at $3,134,054.ITC Holdings Corp. makes up approximately 0.18% of Indexiq Advisors’s portfolio.

Other Hedge Funds, Including , Sunbelt Securities reduced its stake in ITC by selling 29 shares or 12.39% in the most recent quarter. The Hedge Fund company now holds 205 shares of ITC which is valued at $9,533. ITC Holdings Corp. makes up approx 0.01% of Sunbelt Securities’s portfolio.Reaves W H Co Inc reduced its stake in ITC by selling 353,375 shares or 15.43% in the most recent quarter. The Hedge Fund company now holds 1,937,535 shares of ITC which is valued at $90,405,383. ITC Holdings Corp. makes up approx 3.25% of Reaves W H Co Inc’s portfolio. Argent Trust Co sold out all of its stake in ITC during the most recent quarter. The investment firm sold 7,961 shares of ITC which is valued $368,117.Gabelli Funds boosted its stake in ITC in the latest quarter, The investment management firm added 8,000 additional shares and now holds a total of 134,000 shares of ITC Holdings Corp. which is valued at $6,196,160. ITC Holdings Corp. makes up approx 0.04% of Gabelli Funds’s portfolio.Farmers Merchants Investments Inc reduced its stake in ITC by selling 1,292 shares or 2.21% in the most recent quarter. The Hedge Fund company now holds 57,206 shares of ITC which is valued at $2,643,489. ITC Holdings Corp. makes up approx 0.29% of Farmers Merchants Investments Inc’s portfolio.

ITC Holdings Corp. closed down -0.21 points or -0.45% at $46.66 with 6,21,796 shares getting traded on Tuesday. Post opening the session at $46.81, the shares hit an intraday low of $46.44 and an intraday high of $46.96 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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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