Legal & General Group Plc Has $436.99 Million Holdings in Consolidated Edison Inc $ED

Legal & General Group Plc boosted its stake in shares of Consolidated Edison Inc (NYSE:ED) by 1.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 4,399,844 shares of the utilities provider’s stock after purchasing an additional 48,314 shares during the quarter. Legal & General Group Plc’s holdings in Consolidated Edison were worth $436,993,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ED. Lazard Asset Management LLC raised its holdings in Consolidated Edison by 121,543.9% during the 3rd quarter. Lazard Asset Management LLC now owns 5,960,553 shares of the utilities provider’s stock worth $599,155,000 after buying an additional 5,955,653 shares during the period. PFA Pension Forsikringsaktieselskab purchased a new position in Consolidated Edison during the 4th quarter valued at about $113,977,000. AQR Capital Management LLC grew its stake in Consolidated Edison by 104.6% during the 3rd 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 grew its stake in Consolidated Edison by 94.7% during the 3rd 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. grew its stake in Consolidated Edison by 344.6% during the 4th 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 and hedge funds own 66.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on ED shares. Scotiabank lifted their target price on Consolidated Edison from $113.00 to $117.00 and gave the company a “sector perform” rating in a research note on Friday, February 20th. Morgan Stanley set a $99.00 target price on Consolidated Edison in a research note on Thursday. Weiss Ratings raised Consolidated Edison from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, April 24th. Evercore set a $116.00 target price on Consolidated Edison in a research note on Monday, May 11th. Finally, Bank of America reaffirmed an “underperform” rating and set a $104.00 target price on shares of Consolidated Edison in a research note on Wednesday, February 25th. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and six have assigned a Sell rating to the stock. According to MarketBeat, Consolidated Edison currently has an average rating of “Reduce” and an average price target of $108.71.

Insider Activity at Consolidated Edison

In related news, SVP Deneen L. Donnley sold 1,922 shares of the business’s stock in a transaction that occurred on 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 sale, 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 SEC, which can be accessed through this link. Insiders own 0.15% of the company’s stock.

Consolidated Edison Trading Up 0.1%

Shares of NYSE ED opened at $108.66 on Tuesday. The stock has a market cap of $40.04 billion, a price-to-earnings ratio of 18.29, a PEG ratio of 2.76 and a beta of 0.29. The business has a 50 day simple moving average of $110.37 and a 200 day simple moving average of $105.88. Consolidated Edison Inc has a 52 week low of $94.96 and a 52 week high of $116.23. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.09 and a current ratio of 1.19.

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

Consolidated Edison Announces Dividend

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

Consolidated Edison 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.