Resona Asset Management Co. Ltd. Sells 5,331 Shares of Consolidated Edison Inc $ED

Resona Asset Management Co. Ltd. lowered its stake in Consolidated Edison Inc (NYSE:ED) by 2.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 209,577 shares of the utilities provider’s stock after selling 5,331 shares during the period. Resona Asset Management Co. Ltd. owned 0.06% of Consolidated Edison worth $20,824,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in ED. Lazard Asset Management LLC boosted its holdings in Consolidated Edison by 121,543.9% in the third quarter. Lazard Asset Management LLC now owns 5,960,553 shares of the utilities provider’s stock valued at $599,155,000 after acquiring an additional 5,955,653 shares in the last quarter. PFA Pension Forsikringsaktieselskab bought a new stake in Consolidated Edison in the fourth quarter valued at $113,977,000. AQR Capital Management LLC boosted its holdings in Consolidated Edison by 104.6% in the third quarter. AQR Capital Management LLC now owns 1,905,678 shares of the utilities provider’s stock valued at $190,530,000 after acquiring an additional 974,419 shares in the last quarter. Qube Research & Technologies Ltd boosted its holdings in Consolidated Edison by 94.7% in the third quarter. Qube Research & Technologies Ltd now owns 1,904,876 shares of the utilities provider’s stock valued at $191,478,000 after acquiring an additional 926,716 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in Consolidated Edison by 344.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 891,895 shares of the utilities provider’s stock valued at $88,583,000 after acquiring an additional 691,304 shares in the last quarter. Institutional investors own 66.29% of the company’s stock.

Insiders Place Their Bets

In other Consolidated Edison news, SVP Deneen L. Donnley sold 1,922 shares of the business’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $113.94, for a total value of $218,992.68. Following the completion of the transaction, the senior vice president owned 32,453 shares of the company’s stock, valued at approximately $3,697,694.82. The trade was a 5.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.15% of the company’s stock.

Consolidated Edison Price Performance

ED opened at $108.22 on Wednesday. The stock has a 50-day moving average price of $110.71 and a 200-day moving average price of $105.59. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.19 and a quick ratio of 1.09. The firm has a market cap of $39.88 billion, a PE ratio of 18.22, a P/E/G ratio of 2.70 and a beta of 0.29. Consolidated Edison Inc has a 1 year low of $94.96 and a 1 year high of $116.23.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, May 7th. The utilities provider reported $2.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.28 by ($0.10). Consolidated Edison had a return on equity of 8.33% and a net margin of 12.52%.The company had revenue of $5.10 billion during the quarter, compared to analysts’ expectations of $5.22 billion. During the same period in the prior year, the firm earned $2.26 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Sell-side analysts predict that Consolidated Edison Inc will post 6.09 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Wednesday, May 13th will be given a $0.8875 dividend. The ex-dividend date of this dividend is Wednesday, May 13th. This represents a $3.55 dividend on an annualized basis and a yield of 3.3%. Consolidated Edison’s payout ratio is 59.76%.

Analyst Ratings Changes

ED has been the topic of a number of research reports. KeyCorp boosted their target price on shares of Consolidated Edison from $96.00 to $97.00 and gave the company an “underweight” rating in a report on Tuesday, April 21st. JPMorgan Chase & Co. boosted their target price on shares of Consolidated Edison from $107.00 to $113.00 and gave the company an “underweight” rating in a report on Thursday, March 12th. Wells Fargo & Company set a $98.00 target price on shares of Consolidated Edison in a report on Tuesday, April 21st. Evercore set a $116.00 target price on shares of Consolidated Edison in a report on Monday, May 11th. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a $118.00 target price on shares of Consolidated Edison in a report on Friday, January 23rd. Three research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and six have assigned a Sell rating to the stock. According to MarketBeat, Consolidated Edison presently has a consensus rating of “Reduce” and an average target price of $109.14.

Consolidated Edison Company Profile

Consolidated Edison, Inc, commonly known as Con Edison, is an investor-owned energy company that primarily delivers electricity, natural gas and steam to customers in the New York metropolitan area. Its regulated utility operations include the distribution and transmission of electric power, the distribution of natural gas, and the operation of one of the largest district steam systems in the United States, serving commercial, institutional and residential customers in New York City and nearby counties.

The company operates through regulated utility subsidiaries that serve urban and suburban service territories, together with non-utility businesses that develop, own and manage energy infrastructure and clean energy projects.