Campbell & CO Investment Adviser LLC Has $1.59 Million Stock Holdings in Consolidated Edison Inc $ED

Key Points

• Campbell & CO Investment Adviser LLC reduced its stake in Consolidated Edison by **74%**, ending the first quarter with 14,339 shares valued at approximately $1.59 million.
• Consolidated Edison reported a quarterly EPS of **$0.67**, slightly surpassing analyst expectations, with revenues totaling **$3.60 billion** against an expected **$3.39 billion**.
• The company announced a quarterly dividend of **$0.85** per share, representing a **3.4% annual yield**, with a payout ratio of **61.71%**.

Campbell & CO Investment Adviser LLC trimmed its holdings in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 74.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,339 shares of the utilities provider's stock after selling 40,743 shares during the period. Campbell & CO Investment Adviser LLC's holdings in Consolidated Edison were worth $1,586,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of ED. Deutsche Bank AG boosted its stake in shares of Consolidated Edison by 130.6% during the 1st quarter. Deutsche Bank AG now owns 3,926,814 shares of the utilities provider's stock worth $434,266,000 after buying an additional 2,223,959 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Consolidated Edison by 106.9% in the 1st quarter. JPMorgan Chase & Co. now owns 2,790,876 shares of the utilities provider's stock valued at $308,643,000 after purchasing an additional 1,441,785 shares during the period. Nuveen LLC bought a new stake in shares of Consolidated Edison in the 1st quarter valued at about $146,073,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Consolidated Edison by 215.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,688,480 shares of the utilities provider's stock valued at $186,730,000 after purchasing an additional 1,152,892 shares during the period. Finally, GAMMA Investing LLC raised its holdings in shares of Consolidated Edison by 15,937.5% in the 1st quarter. GAMMA Investing LLC now owns 1,022,073 shares of the utilities provider's stock valued at $113,031,000 after purchasing an additional 1,015,700 shares during the period. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on ED shares. Wells Fargo & Company upped their target price on shares of Consolidated Edison from $103.00 to $114.00 and gave the company an "equal weight" rating in a report on Friday, May 2nd. KeyCorp reaffirmed an "overweight" rating on shares of Consolidated Edison in a report on Wednesday, July 16th. Guggenheim upped their target price on shares of Consolidated Edison from $96.00 to $103.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Barclays upped their target price on shares of Consolidated Edison from $101.00 to $107.00 and gave the company an "underweight" rating in a report on Wednesday, August 13th. Finally, Bank of America cut shares of Consolidated Edison from a "buy" rating to an "underperform" rating and dropped their target price for the company from $112.00 to $101.00 in a report on Friday, August 15th. Three investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, Consolidated Edison currently has an average rating of "Hold" and a consensus target price of $105.82.

Consolidated Edison Stock Performance

Shares of ED traded up $0.13 during mid-day trading on Friday, hitting $98.30. 4,219,518 shares of the company's stock were exchanged, compared to its average volume of 2,747,407. Consolidated Edison Inc has a 52 week low of $87.28 and a 52 week high of $114.87. The stock's 50-day simple moving average is $101.36 and its 200-day simple moving average is $103.81. The firm has a market cap of $35.45 billion, a price-to-earnings ratio of 17.84, a price-to-earnings-growth ratio of 2.73 and a beta of 0.24. 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 (NYSE:ED - Get Free Report) last announced its earnings results on Thursday, August 7th. The utilities provider reported $0.67 EPS for the quarter, topping the consensus estimate of $0.66 by $0.01. Consolidated Edison had a net margin of 11.98% and a return on equity of 8.56%. The company had revenue of $3.60 billion for the quarter, compared to analysts' expectations of $3.39 billion. During the same period last year, the firm earned $0.59 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. On average, equities research analysts expect that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Wednesday, August 13th will be issued a dividend of $0.85 per share. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $3.40 annualized dividend and a dividend yield of 3.5%. Consolidated Edison's dividend payout ratio (DPR) is currently 61.71%.

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.