Consolidated Edison Inc $ED Shares Sold by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC reduced its stake in Consolidated Edison by 41.4%, selling 178,189 shares, which now constitutes approximately 0.07% of the company's total worth.
• Consolidated Edison reported a Q2 EPS of $0.67, surpassing estimates, and established a fiscal year 2025 guidance range of 5.500-5.700 EPS.
• The company announced a quarterly dividend of $0.85 per share, resulting in an annualized dividend of $3.40 and a yield of 3.5% for shareholders.

Acadian Asset Management LLC reduced its holdings in Consolidated Edison Inc (NYSE:ED - Free Report) by 41.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 251,809 shares of the utilities provider's stock after selling 178,189 shares during the period. Acadian Asset Management LLC owned approximately 0.07% of Consolidated Edison worth $27,845,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Alpine Bank Wealth Management purchased a new position in Consolidated Edison during the first quarter worth about $32,000. Fort Vancouver Investment Management LLC purchased a new position in Consolidated Edison during the first quarter worth about $33,000. Financial Network Wealth Advisors LLC purchased a new position in Consolidated Edison during the first quarter worth about $33,000. Cary Street Partners Investment Advisory LLC increased its position in shares of Consolidated Edison by 64.9% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 305 shares of the utilities provider's stock valued at $34,000 after acquiring an additional 120 shares during the last quarter. Finally, Elite Financial Inc. acquired a new stake in shares of Consolidated Edison during the first quarter valued at about $38,000. 66.29% of the stock is owned by hedge funds and other institutional investors.

Consolidated Edison Trading Down 0.2%

Shares of ED traded down $0.16 during mid-day trading on Friday, hitting $97.54. The company had a trading volume of 1,249,436 shares, compared to its average volume of 2,634,055. The business's 50-day simple moving average is $100.92 and its 200-day simple moving average is $103.90. The company has a quick ratio of 1.01, a current ratio of 1.10 and a debt-to-equity ratio of 1.04. Consolidated Edison Inc has a 1-year low of $87.28 and a 1-year high of $114.87. The stock has a market cap of $35.18 billion, a PE ratio of 17.70, a P/E/G ratio of 2.72 and a beta of 0.28.

Consolidated Edison (NYSE:ED - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The utilities provider reported $0.67 EPS for the quarter, beating the consensus estimate of $0.66 by $0.01. The firm had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.39 billion. Consolidated Edison had a net margin of 11.98% and a return on equity of 8.56%. During the same quarter last year, the firm posted $0.59 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. Sell-side analysts forecast that Consolidated Edison Inc will post 5.62 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Wednesday, August 13th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Wednesday, August 13th. Consolidated Edison's payout ratio is 61.71%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Mizuho lifted their price target on shares of Consolidated Edison from $107.00 to $112.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. KeyCorp reiterated an "overweight" rating on shares of Consolidated Edison in a report on Wednesday, July 16th. Morgan Stanley reiterated an "underweight" rating on shares of Consolidated Edison in a report on Thursday, August 21st. Bank of America cut shares of Consolidated Edison from a "buy" rating to an "underperform" rating and lowered their target price for the company from $112.00 to $101.00 in a report on Friday, August 15th. Finally, Barclays upped their price target on shares of Consolidated Edison from $101.00 to $107.00 and gave the company an "underweight" rating in a research report on Wednesday, August 13th. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, Consolidated Edison presently has a consensus rating of "Hold" and a consensus price target of $105.82.

Consolidated Edison Company Profile

Consolidated Edison, Inc, through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States. It offers electric services to approximately 3.7 million customers in New York City and Westchester County; gas to approximately 1.1 million customers in Manhattan, the Bronx, parts of Queens, and Westchester County; and steam to approximately 1,530 customers in parts of Manhattan.