Consolidated Edison Inc $ED Shares Sold by Intech Investment Management LLC

Key Points

• Intech Investment Management LLC reduced its stake in Consolidated Edison by 6.5%, holding approximately 190,388 shares valued at $21.1 million after selling 13,245 shares in the first quarter.
• Key analysts have issued varied ratings on Consolidated Edison, with three ratings as "Buy," six as "Hold," and three as "Sell," alongside an average target price of $105.82.
• Consolidated Edison announced a quarterly dividend of $0.85 per share, with an annualized dividend yield of 3.5%, payable on September 15th.

Intech Investment Management LLC lessened its position in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 6.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 190,388 shares of the utilities provider's stock after selling 13,245 shares during the quarter. Intech Investment Management LLC owned approximately 0.05% of Consolidated Edison worth $21,055,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Revolve Wealth Partners LLC grew its holdings in Consolidated Edison by 13.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider's stock valued at $332,000 after purchasing an additional 441 shares during the period. Ameriprise Financial Inc. grew its stake in Consolidated Edison by 1.7% in the 4th quarter. Ameriprise Financial Inc. now owns 198,994 shares of the utilities provider's stock valued at $17,767,000 after acquiring an additional 3,275 shares during the period. Ensign Peak Advisors Inc increased its holdings in Consolidated Edison by 8.4% in the 4th quarter. Ensign Peak Advisors Inc now owns 61,405 shares of the utilities provider's stock worth $5,479,000 after acquiring an additional 4,742 shares in the last quarter. Focus Partners Wealth increased its holdings in Consolidated Edison by 124.5% in the 4th quarter. Focus Partners Wealth now owns 55,114 shares of the utilities provider's stock worth $5,020,000 after acquiring an additional 30,560 shares in the last quarter. Finally, Janus Henderson Group PLC raised its position in Consolidated Edison by 2.4% during the fourth quarter. Janus Henderson Group PLC now owns 55,734 shares of the utilities provider's stock worth $4,972,000 after acquiring an additional 1,294 shares during the period. Hedge funds and other institutional investors own 66.29% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ED. KeyCorp reiterated an "overweight" rating on shares of Consolidated Edison in a research report on Wednesday, July 16th. Morgan Stanley reiterated an "underweight" rating on shares of Consolidated Edison in a research note on Thursday, August 21st. Barclays increased their target price on Consolidated Edison from $101.00 to $107.00 and gave the company an "underweight" rating in a report on Wednesday, August 13th. Bank of America lowered Consolidated Edison from a "buy" rating to an "underperform" rating and lowered their price target for the stock from $112.00 to $101.00 in a research note on Friday, August 15th. Finally, Mizuho increased their price objective on Consolidated Edison from $107.00 to $112.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Three research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Consolidated Edison currently has a consensus rating of "Hold" and an average target price of $105.82.

Consolidated Edison Stock Up 0.4%

Shares of ED opened at $97.00 on Wednesday. Consolidated Edison Inc has a 52-week low of $87.28 and a 52-week 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. The stock has a fifty day simple moving average of $101.07 and a two-hundred day simple moving average of $103.96. The company has a market capitalization of $34.98 billion, a PE ratio of 17.60, a price-to-earnings-growth ratio of 2.69 and a beta of 0.28.

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

Consolidated Edison Announces Dividend

The company also recently declared 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 is Wednesday, August 13th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.5%. Consolidated Edison's dividend payout ratio (DPR) is currently 61.71%.

Consolidated Edison 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.

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