Consolidated Edison Inc $ED Shares Sold by Acadian Asset Management LLC

Acadian Asset Management LLC trimmed its position in Consolidated Edison Inc (NYSE:ED) by 41.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 251,809 shares of the utilities provider’s stock after selling 178,189 shares during the period. Acadian Asset Management LLC owned approximately 0.07% of Consolidated Edison worth $27,845,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Consolidated Edison by 1.6% in the first quarter. Vanguard Group Inc. now owns 43,117,094 shares of the utilities provider’s stock worth $4,768,319,000 after purchasing an additional 661,432 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Consolidated Edison by 1.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,868,772 shares of the utilities provider’s stock worth $538,437,000 after purchasing an additional 48,323 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Consolidated Edison by 6.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,820,449 shares of the utilities provider’s stock worth $430,129,000 after purchasing an additional 271,088 shares during the period. Deutsche Bank AG increased its holdings in shares of Consolidated Edison by 130.6% in the first quarter. Deutsche Bank AG now owns 3,926,814 shares of the utilities provider’s stock valued at $434,266,000 after buying an additional 2,223,959 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Consolidated Edison by 106.9% in the first quarter. JPMorgan Chase & Co. now owns 2,790,876 shares of the utilities provider’s stock valued at $308,643,000 after buying an additional 1,441,785 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Price Performance

Shares of NYSE:ED opened at $97.05 on Thursday. The company’s fifty day moving average is $101.02 and its two-hundred day moving average is $103.91. The company has a quick ratio of 1.01, a current ratio of 1.10 and a debt-to-equity ratio of 1.04. Consolidated Edison Inc has a 12-month low of $87.28 and a 12-month high of $114.87. The company has a market cap of $35.00 billion, a P/E ratio of 17.61, a price-to-earnings-growth ratio of 2.69 and a beta of 0.28.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, August 7th. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.01. Consolidated Edison had a net margin of 11.98% and a return on equity of 8.56%. The company had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.39 billion. During the same period in the previous year, the business earned $0.59 EPS. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. Equities analysts expect that Consolidated Edison Inc will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Wednesday, August 13th will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Wednesday, August 13th. Consolidated Edison’s payout ratio is 61.71%.

Analysts Set New Price Targets

ED has been the topic of several research reports. Mizuho upped their price target on Consolidated Edison from $107.00 to $112.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Morgan Stanley reaffirmed an “underweight” rating on shares of Consolidated Edison in a report on Thursday, August 21st. Barclays upped their price target on Consolidated Edison from $101.00 to $107.00 and gave the company an “underweight” rating in a report on Wednesday, August 13th. Scotiabank upped their price target on Consolidated Edison from $101.00 to $106.00 and gave the company a “sector perform” rating in a report on Monday, August 11th. Finally, Bank of America cut Consolidated Edison from a “buy” rating to an “underperform” rating and dropped their price target for the company from $112.00 to $101.00 in a report on Friday, August 15th. Three analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $105.82.

About Consolidated Edison

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.