Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 37,498 Shares of Consolidated Edison Inc $ED

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lessened its position in Consolidated Edison Inc (NYSE:ED - Free Report) by 5.5% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 639,705 shares of the utilities provider's stock after selling 37,498 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned approximately 0.17% of Consolidated Edison worth $72,402,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of ED. Basepoint Wealth LLC acquired a new stake in Consolidated Edison in the 4th quarter valued at $26,000. JPL Wealth Management LLC acquired a new position in Consolidated Edison during the third quarter worth $26,000. Aventura Private Wealth LLC bought a new position in shares of Consolidated Edison in the fourth quarter valued at $27,000. Westfuller Advisors LLC acquired a new position in shares of Consolidated Edison during the fourth quarter valued at about $27,000. Finally, Sachetta LLC grew its holdings in shares of Consolidated Edison by 72.9% during the first quarter. Sachetta LLC now owns 242 shares of the utilities provider's stock valued at $27,000 after buying an additional 102 shares during the last quarter. Institutional investors own 66.29% of the company's stock.

Analyst Upgrades and Downgrades

ED has been the topic of a number of analyst reports. Morgan Stanley restated an "underweight" rating on shares of Consolidated Edison in a report on Wednesday, June 24th. KeyCorp increased their price objective on Consolidated Edison from $96.00 to $97.00 and gave the stock an "underweight" rating in a research note on Tuesday, April 21st. Evercore set a $116.00 target price on Consolidated Edison in a report on Monday, May 11th. Mizuho reaffirmed a "neutral" rating and set a $105.00 target price on shares of Consolidated Edison in a research report on Tuesday, June 2nd. Finally, Weiss Ratings upgraded Consolidated Edison from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, April 24th. Two equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and six have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and a consensus target price of $108.07.

Consolidated Edison Stock Up 0.9%

ED stock traded up $0.97 during trading on Friday, reaching $111.24. The stock had a trading volume of 1,343,906 shares, compared to its average volume of 2,254,874. The company has a quick ratio of 1.09, a current ratio of 1.19 and a debt-to-equity ratio of 1.00. The company has a market capitalization of $41.00 billion, a price-to-earnings ratio of 18.73, a P/E/G ratio of 2.82 and a beta of 0.27. Consolidated Edison Inc has a one year low of $94.96 and a one year high of $116.23. The company's 50 day moving average is $108.12 and its two-hundred day moving average is $108.15.

Consolidated Edison Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Wednesday, May 13th were given a dividend of $0.8875 per share. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Wednesday, May 13th. Consolidated Edison's dividend payout ratio (DPR) is presently 59.76%.

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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