Baird Amends NSTAR Electric Preferred Stock Ownership

TL;DR

**Baird updated its NSTAR Electric preferred stock holdings, showing its continued institutional interest.**

AI Summary

Robert W. Baird & Co. Incorporated filed an amended Schedule 13G/A on February 12, 2024, indicating their beneficial ownership of NSTAR Electric Company's 4.25% Preferred Stock as of December 31, 2023. This amendment, number 6, updates their previous filing regarding their stake in the utility company's preferred shares. This matters to investors because it provides transparency into institutional ownership changes, which can influence market perception and liquidity for NSTAR Electric Company's preferred stock.

Why It Matters

This filing shows an institutional investor's updated stake in NSTAR Electric Company's preferred stock, offering insight into their investment strategy and potential market sentiment for this specific security.

Risk Assessment

Risk Level: low — This is a routine amendment to an ownership filing and does not indicate any immediate significant risk or opportunity.

Analyst Insight

Investors in NSTAR Electric Company's preferred stock should note the continued institutional interest from Robert W. Baird & Co. Incorporated, which suggests stability in this specific security, but this filing alone doesn't warrant immediate action.

Key Numbers

• 67021C206 — CUSIP Number (identifies the NSTAR Electric Company 4.25% Preferred Stock)
• 005-41421 — SEC File Number (identifies NSTAR Electric Company's registration with the SEC)
• Amendment No. 6 — Filing Amendment Number (indicates this is the sixth update to the original Schedule 13G filing)

Key Players & Entities

• NSTAR Electric Company (company) — the issuer of the 4.25% Preferred Stock
• Robert W. Baird & Co. Incorporated (company) — the reporting person filing the SC 13G/A
• December 31, 2023 (date) — the date of the event which required the filing
• February 12, 2024 (date) — the filing date of the SC 13G/A
• 4.25% (dollar_amount) — the dividend rate of the preferred stock

Forward-Looking Statements

• Robert W. Baird & Co. Incorporated will maintain its beneficial ownership in NSTAR Electric Company's 4.25% Preferred Stock. (Robert W. Baird & Co. Incorporated) — medium confidence, target: December 31, 2024

FAQ

Filing Documents

• rwbci_nstar-sc13ga.htm (SC 13G/A) — 118KB
• 0000898531-24-000066.txt ( ) — 120KB

From the Filing

SC 13G/A 1 rwbci_nstar-sc13ga.htm AMENDED SCHEDULE FILED TO REPORT ACQUISITION OF BENEFICIAL OWNERSHIP 12-31-23 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D.C. 20549 SCHEDULE 13G/A Under the Securities Exchange Act of 1934 (Amendment No. 6)* NSTAR Electric Company (Name of Issuer) 4.25% Preferred Stock (Title of Class of Securities) 67021C206 (CUSIP Number) December 31, 2023 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [X] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d) * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosure provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). Page 1 of 10 SCHEDULE 13G/A NSTAR Electric Company CUSIP No. 67021C206 CUSIP No. 67021C206 1. Names of Reporting Persons Robert W. Baird & Co. Incorporated 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) [ ] (b) [ ] 3. SEC Use Only 4. Citizenship or Place of Organization Wisconsin Number of Shares Beneficially Owned by Each Reporting Person With: 5. Sole Voting Power 0 6. Shared Voting Power 9,603* 7. Sole Dispositive Power 0 8. Shared Dispositive Power 9,603* 9. Aggregate Amount Beneficially Owned by Each Reporting Person 9,603* 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] 11. Percent of Class Represented by Amount in Row (9) 5.3%* 12. Type of Reporting Person (See Instructions) IA, CO * Reflects Shares that Robert W. Baird & Co. Incorporated ("RWB") may be deemed to beneficially own within the meaning of Rule 13d-3 of the Securities Exchange Act of 1934, as amended (the "Act"), by virtue of the investment discretion or voting authority granted to it by its clients over such Shares. Page 2 of 10 SCHEDULE 13G/A NSTAR Electric Company CUSIP No. 67021C206 CUSIP No. 67021C206 1. Names of Reporting Persons Baird Financial Corporation 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) [ ] (b) [ ] 3. SEC Use Only 4. Citizenship or Place of Organization Wisconsin Number of Shares Beneficially Owned by Each Reporting Person With: 5. Sole Voting Power 0 6. Shared Voting Power 9,603* 7. Sole Dispositive Power 0 8. Shared Dispositive Power 9,603* 9. Aggregate Amount Beneficially Owned by Each Reporting Person 9,603* 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] 11. Percent of Class Represented by Amount in Row (9) 5.3%* 12. Type of Reporting Person (See Instructions) HC, CO * Consists of Shares held by Robert W. Baird & Co. Incorporated. Page 3 of 10 SCHEDULE 13G/A NSTAR Electric Company CUSIP No. 67021C206 CUSIP No. 67021C206 1. Names of Reporting Persons Baird Financial Group, Inc. 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) [ ] (b) [ ] 3. SEC Use Only 4. Citizenship or Place of Organization Wisconsin Number of Shares Beneficially Owned by Each Reporting Person With: 5. Sole Voting Power 0 6. Shared Voting Power 9,603* 7. Sole Dispositive Power 0 8. Shared Dispositive Power 9,603* 9. Aggregate Amount Beneficially Owned by Each Reporting Person 9,603* 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] 11. Percent of Class Represented by Amount in Row (9) 5.3%* 12. Type of Reporting Person (See Instructions) HC, CO * Consists of Shares held by Robert W. Baird & Co. Incorporated. Page 4 of 10 SCHEDULE 13G/A NSTAR Electric Company CUSIP No. 67021C206 Item 1. (a) Name of Issuer: NSTAR Electric Company (b) Address of Issuer's Principal Executive Offices: 800 Boylston Street Boston, Massachusetts 02199 Item 2.* (a) Name of Person Filing: (1) Robert W. Baird & Co. Incorporated ("RWB") (2) Baird Financial Corporation ("BFC") (3) Baird Financial Group, Inc. ("BFG") (b) Address of Principal Business Office or, if none, Residence: The address of the principal business office of each of RWB, BFC and BFG is: 777 East Wisconsin Avenue Milwaukee, Wisconsin 53202 (c) Citizenship: RWB, BFC and BFG are Wisconsin corporations. (d) Title of Class of Securities: 4.25% Preferred Stock ("Shares") (e) CUSIP Number: 67021C206 Page 5 of 10 SCHEDULE 13G/A NSTAR Electric Company CUSIP No. 67021C206 Item 3. If this statement is filed pursu

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