Intech Investment Management LLC Sells 15,315 Shares of Consolidated Edison Inc $ED

Intech Investment Management LLC cut its holdings in shares of Consolidated Edison Inc (NYSE:ED) by 8.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 175,073 shares of the utilities provider’s stock after selling 15,315 shares during the period. Intech Investment Management LLC’s holdings in Consolidated Edison were worth $17,569,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of ED. Vanguard Group Inc. lifted its position in Consolidated Edison by 1.6% during the first quarter. Vanguard Group Inc. now owns 43,117,094 shares of the utilities provider’s stock valued at $4,768,319,000 after purchasing an additional 661,432 shares during the period. Geode Capital Management LLC raised its stake in Consolidated Edison by 6.1% during the 2nd quarter. Geode Capital Management LLC now owns 9,796,782 shares of the utilities provider’s stock valued at $979,204,000 after buying an additional 566,358 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Consolidated Edison by 1.0% during the 1st 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 valued at $538,437,000 after buying an additional 48,323 shares during the period. Deutsche Bank AG boosted its stake in shares of Consolidated Edison by 130.6% in the 1st quarter. Deutsche Bank AG now owns 3,926,814 shares of the utilities provider’s stock worth $434,266,000 after buying an additional 2,223,959 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Consolidated Edison by 106.9% in the 1st quarter. JPMorgan Chase & Co. now owns 2,790,876 shares of the utilities provider’s stock worth $308,643,000 after buying an additional 1,441,785 shares during the last quarter. 66.29% of the stock is currently owned by institutional investors.

Consolidated Edison Stock Performance

NYSE ED opened at $101.60 on Friday. 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 twelve month low of $87.28 and a twelve month high of $114.87. The business has a 50-day moving average price of $98.97 and a 200-day moving average price of $101.27. The firm has a market cap of $36.67 billion, a price-to-earnings ratio of 18.44, a price-to-earnings-growth ratio of 2.70 and a beta of 0.32.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, November 6th. The utilities provider reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.14. Consolidated Edison had a net margin of 11.98% and a return on equity of 8.56%. During the same quarter last year, the company posted $1.68 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. As a group, equities research analysts predict that Consolidated Edison Inc will post 5.62 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Wednesday, November 19th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Wednesday, November 19th. Consolidated Edison’s payout ratio is 59.44%.

Analyst Ratings Changes

Several research analysts have issued reports on ED shares. Evercore ISI started coverage on Consolidated Edison in a research report on Tuesday, October 7th. They issued an “in-line” rating and a $106.00 target price on the stock. Scotiabank raised their price objective on shares of Consolidated Edison from $101.00 to $106.00 and gave the stock a “sector perform” rating in a report on Monday, August 11th. Wells Fargo & Company raised shares of Consolidated Edison to a “hold” rating in a report on Tuesday, October 28th. New Street Research set a $106.00 price target on shares of Consolidated Edison in a research note on Monday, October 6th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Consolidated Edison in a research note on Tuesday. Three equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, Consolidated Edison presently has an average rating of “Reduce” and an average price target of $104.75.

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.