Savant Capital LLC Reduces Stock Position in Consolidated Edison, Inc. (NYSE:ED)

Savant Capital LLC decreased its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 2.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,808 shares of the utilities provider’s stock after selling 298 shares during the quarter. Savant Capital LLC’s holdings in Consolidated Edison were worth $875,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of ED. State Street Corp increased its stake in shares of Consolidated Edison by 1.7% during the 3rd quarter. State Street Corp now owns 23,429,218 shares of the utilities provider’s stock worth $2,439,684,000 after purchasing an additional 399,034 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Consolidated Edison by 1.2% in the third quarter. Geode Capital Management LLC now owns 8,853,788 shares of the utilities provider’s stock worth $919,041,000 after acquiring an additional 107,281 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Consolidated Edison by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,148,666 shares of the utilities provider’s stock valued at $223,741,000 after acquiring an additional 28,254 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Consolidated Edison by 4.0% during the third quarter. JPMorgan Chase & Co. now owns 2,145,128 shares of the utilities provider’s stock valued at $223,373,000 after acquiring an additional 82,985 shares during the last quarter. Finally, FMR LLC boosted its stake in shares of Consolidated Edison by 82.3% during the 3rd quarter. FMR LLC now owns 1,268,424 shares of the utilities provider’s stock worth $132,081,000 after purchasing an additional 572,530 shares during the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Evercore ISI downgraded shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 21st. Scotiabank upgraded Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and increased their price target for the company from $90.00 to $100.00 in a report on Thursday, December 12th. Mizuho upped their target price on Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Barclays dropped their target price on Consolidated Edison from $99.00 to $92.00 and set an “underweight” rating on the stock in a report on Monday, January 27th. Finally, Morgan Stanley decreased their price target on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a report on Friday, November 22nd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $100.00.

Consolidated Edison Price Performance

Shares of ED stock opened at $95.01 on Friday. The firm has a fifty day moving average of $91.84 and a two-hundred day moving average of $98.14. The firm has a market cap of $32.91 billion, a P/E ratio of 17.89, a P/E/G ratio of 3.04 and a beta of 0.39. Consolidated Edison, Inc. has a 1-year low of $85.85 and a 1-year high of $107.75. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93.

Consolidated Edison Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Wednesday, February 19th will be issued a $0.85 dividend. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.83. This represents a $3.40 annualized dividend and a yield of 3.58%. The ex-dividend date of this dividend is Wednesday, February 19th. Consolidated Edison’s payout ratio is currently 62.52%.

Consolidated Edison Company Profile

Consolidated Edison, Inc, through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States. It offers electric services to approximately 3.7 million customers in New York City and Westchester County; gas to approximately 1.1 million customers in Manhattan, the Bronx, parts of Queens, and Westchester County; and steam to approximately 1,530 customers in parts of Manhattan.