Assenagon Asset Management S.A. Sells 112,991 Shares of Consolidated Edison Inc $ED

Key Points

• Assenagon Asset Management cut its Consolidated Edison stake by 78.4% in the second quarter, selling 112,991 shares and retaining 31,190 shares valued at approximately $3.45 million. Institutional investors collectively own 66.29% of ED.
• Consolidated Edison reported quarterly EPS of $0.83, surpassing the $0.76 consensus estimate, while revenue reached $4.07 billion. The company maintained 2026 EPS guidance of $6.00–$6.20.
• The utility announced a quarterly dividend of $0.8875 per share, equivalent to $3.55 annually and a 3.3% yield. Analyst sentiment remains cautious, with an average “Reduce” rating and a $109.07 price target.

Assenagon Asset Management S.A. cut its holdings in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 78.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,190 shares of the utilities provider's stock after selling 112,991 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Consolidated Edison were worth $3,451,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in ED. Basepoint Wealth LLC acquired a new stake in Consolidated Edison during the 4th quarter valued at $26,000. JPL Wealth Management LLC acquired a new position in shares of Consolidated Edison in the third quarter valued at $26,000. Sachetta LLC increased its holdings in shares of Consolidated Edison by 72.9% in the first quarter. Sachetta LLC now owns 242 shares of the utilities provider's stock valued at $27,000 after purchasing an additional 102 shares during the last quarter. WealthCollab LLC raised its position in shares of Consolidated Edison by 68.4% in the fourth quarter. WealthCollab LLC now owns 315 shares of the utilities provider's stock valued at $31,000 after purchasing an additional 128 shares during the period. Finally, Godfrey Financial Associates Inc. bought a new position in shares of Consolidated Edison in the fourth quarter valued at about $32,000. Institutional investors own 66.29% of the company's stock.

Consolidated Edison Stock Performance

Shares of Consolidated Edison stock opened at $107.49 on Thursday. The company has a current ratio of 1.27, a quick ratio of 1.17 and a debt-to-equity ratio of 1.04. The company has a market cap of $39.75 billion, a PE ratio of 17.65, a price-to-earnings-growth ratio of 2.79 and a beta of 0.27. The company has a 50 day moving average of $109.67 and a 200-day moving average of $109.76. Consolidated Edison Inc has a 1-year low of $94.96 and a 1-year high of $116.23.

Consolidated Edison (NYSE:ED - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The utilities provider reported $0.83 EPS for the quarter, beating the consensus estimate of $0.76 by $0.07. The business had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $3.60 billion. Consolidated Edison had a net margin of 12.53% and a return on equity of 8.44%. During the same period in the previous year, the business earned $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. As a group, equities research analysts forecast that Consolidated Edison Inc will post 6.09 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Wednesday, August 19th will be paid a dividend of $0.8875 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $3.55 annualized dividend and a yield of 3.3%. Consolidated Edison's payout ratio is presently 58.29%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on ED shares. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Consolidated Edison in a report on Tuesday, July 21st. Evercore set a $116.00 price target on shares of Consolidated Edison in a report on Monday, May 11th. Barclays cut their price objective on shares of Consolidated Edison from $112.00 to $106.00 and set an "underweight" rating for the company in a research report on Friday, August 7th. Wells Fargo & Company boosted their price objective on Consolidated Edison from $106.00 to $108.00 and gave the stock an "equal weight" rating in a report on Friday, August 7th. Finally, The Goldman Sachs Group reaffirmed a "sell" rating and issued a $105.00 target price on shares of Consolidated Edison in a research report on Thursday, May 14th. Two research analysts have rated the stock with a Buy rating, seven have given a Hold rating and six have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Reduce" and an average target price of $109.07.

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.

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