Assetmark Inc. Increases Holdings in Consolidated Edison Inc $ED

Key Points

• Assetmark Inc. raised its stake in Consolidated Edison by 4.5% in Q4 to 702,037 shares, valued at about $69.7 million.
• Consolidated Edison beat Q4 estimates with EPS of $0.89 (vs. $0.86) and revenue of $4.0 billion (vs. $3.71 billion), and issued FY2026 guidance of 6.000–6.200 EPS.
• The company increased its quarterly dividend to $0.8875 (annualized $3.55, ~3.2% yield), even as analysts show a consensus rating of "Reduce" with an average target of $108.

Assetmark Inc. raised its stake in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 4.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 702,037 shares of the utilities provider's stock after buying an additional 30,549 shares during the quarter. Assetmark Inc. owned about 0.19% of Consolidated Edison worth $69,726,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Consolidated Edison by 0.3% during the third quarter. Vanguard Group Inc. now owns 45,174,933 shares of the utilities provider's stock valued at $4,540,984,000 after buying an additional 134,122 shares during the last quarter. State Street Corp raised its stake in Consolidated Edison by 0.3% during the third quarter. State Street Corp now owns 24,050,572 shares of the utilities provider's stock valued at $2,417,563,000 after buying an additional 63,346 shares during the last quarter. Lazard Asset Management LLC raised its stake in Consolidated Edison by 121,543.9% during 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 buying an additional 5,955,653 shares during the last quarter. Legal & General Group Plc raised its stake in Consolidated Edison by 1.2% during the third quarter. Legal & General Group Plc now owns 4,351,530 shares of the utilities provider's stock valued at $437,416,000 after buying an additional 52,061 shares during the last quarter. Finally, Northern Trust Corp raised its stake in Consolidated Edison by 1.4% during the third quarter. Northern Trust Corp now owns 4,128,793 shares of the utilities provider's stock valued at $415,026,000 after buying an additional 57,365 shares during the last quarter. Hedge funds and other institutional investors own 66.29% of the company's stock.

Consolidated Edison Stock Down 1.5%

ED stock opened at $111.85 on Tuesday. Consolidated Edison Inc has a 1-year low of $94.96 and a 1-year high of $116.23. The business has a fifty day moving average price of $111.88 and a 200-day moving average price of $104.22. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.02 and a quick ratio of 0.94. The stock has a market capitalization of $41.21 billion, a P/E ratio of 19.80, a P/E/G ratio of 2.89 and a beta of 0.34.

Consolidated Edison (NYSE:ED - Get Free Report) last posted its quarterly earnings results on Thursday, February 19th. The utilities provider reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.03. Consolidated Edison had a return on equity of 8.50% and a net margin of 11.95%.The firm had revenue of $4 billion during the quarter, compared to analysts' expectations of $3.71 billion. During the same quarter in the previous year, the business earned $0.98 earnings per share. The company's revenue was up 8.9% on a year-over-year basis. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Equities analysts forecast that Consolidated Edison Inc will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Wednesday, February 18th were issued a $0.8875 dividend. The ex-dividend date of this dividend was Wednesday, February 18th. This is an increase from Consolidated Edison's previous quarterly dividend of $0.85. This represents a $3.55 annualized dividend and a dividend yield of 3.2%. Consolidated Edison's dividend payout ratio is presently 62.83%.

Insider Activity at Consolidated Edison

In related news, SVP Deneen L. Donnley sold 1,922 shares of Consolidated Edison stock in a transaction 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 $3,697,694.82. The trade was a 5.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.17% of the stock is owned by insiders.

Analyst Ratings Changes

ED has been the subject of several recent analyst reports. TD Cowen boosted their price target on Consolidated Edison from $105.00 to $112.00 and gave the stock a "hold" rating in a research note on Tuesday, February 24th. Citigroup restated a "buy" rating on shares of Consolidated Edison in a research note on Monday, February 23rd. Royal Bank Of Canada restated a "sector perform" rating and issued a $118.00 price target on shares of Consolidated Edison in a research note on Friday, January 23rd. JPMorgan Chase & Co. boosted their price target on Consolidated Edison from $107.00 to $113.00 and gave the stock an "underweight" rating in a research note on Thursday, March 12th. Finally, Bank of America restated an "underperform" rating and issued a $104.00 price target on shares of Consolidated Edison in a research note on Wednesday, February 25th. Three analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat, Consolidated Edison presently has a consensus rating of "Reduce" and an average target price of $108.00.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.