Consolidated Edison Inc $ED Shares Sold by IFM Investors Pty Ltd

Key Points

• IFM Investors Pty Ltd reduced its stake in Consolidated Edison Inc by 16.1%, holding 107,070 shares valued at approximately $11.84 million after selling 20,606 shares in Q1.
• The company has announced a quarterly dividend of $0.85 per share, with a dividend yield of 3.5% and a payout ratio of 61.71%.
• Consolidated Edison reported earnings of $0.67 per share for the last quarter, surpassing analyst expectations, with total revenue of $3.60 billion.

IFM Investors Pty Ltd cut its stake in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 16.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 107,070 shares of the utilities provider's stock after selling 20,606 shares during the quarter. IFM Investors Pty Ltd's holdings in Consolidated Edison were worth $11,841,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Consolidated Edison by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 43,117,094 shares of the utilities provider's stock worth $4,768,319,000 after buying an additional 661,432 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Consolidated Edison by 1.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,868,772 shares of the utilities provider's stock valued at $538,437,000 after buying an additional 48,323 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Consolidated Edison by 6.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,820,449 shares of the utilities provider's stock valued at $430,129,000 after buying an additional 271,088 shares in the last quarter. Deutsche Bank AG raised its stake in Consolidated Edison by 130.6% during the 1st quarter. Deutsche Bank AG now owns 3,926,814 shares of the utilities provider's stock valued at $434,266,000 after purchasing an additional 2,223,959 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in Consolidated Edison by 106.9% during 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. 66.29% of the stock is currently owned by institutional investors.

Consolidated Edison Price Performance

Shares of NYSE ED traded down $0.16 during midday trading on Friday, hitting $97.54. The stock had a trading volume of 1,249,436 shares, compared to its average volume of 2,634,055. The company has a market capitalization of $35.18 billion, a PE ratio of 17.70, a P/E/G ratio of 2.72 and a beta of 0.28. The stock has a 50 day simple moving average of $100.92 and a 200-day simple moving average of $103.88. Consolidated Edison Inc has a 1 year low of $87.28 and a 1 year high of $114.87. 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 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 during the quarter, compared to analysts' expectations of $3.39 billion. Consolidated Edison had a return on equity of 8.56% and a net margin of 11.98%.During the same quarter 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, sell-side analysts expect that Consolidated Edison Inc will post 5.62 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Wednesday, August 13th will be paid 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 yield of 3.5%. Consolidated Edison's dividend payout ratio (DPR) is 61.71%.

Analysts Set New Price Targets

ED has been the topic of a number of research reports. Scotiabank lifted their price objective on Consolidated Edison from $101.00 to $106.00 and gave the stock a "sector perform" rating in a research note on Monday, August 11th. Mizuho boosted their price objective on Consolidated Edison from $107.00 to $112.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Morgan Stanley reiterated an "underweight" rating on shares of Consolidated Edison in a report on Thursday, August 21st. Bank of America cut Consolidated Edison from a "buy" rating to an "underperform" rating and decreased their price objective for the stock from $112.00 to $101.00 in a research note on Friday, August 15th. Finally, KeyCorp reaffirmed an "overweight" rating on shares of Consolidated Edison in a research report on Wednesday, July 16th. Three investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price 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.