Consolidated Edison Inc $ED Shares Sold by M&T Bank Corp

Key Points

• M&T Bank Corp trimmed its stake in Consolidated Edison by 56.9% in Q4, selling 31,399 shares and ending the period with 23,750 shares valued at about $2.36 million.
• Other institutions ramped up positions: Lazard added roughly 5.96 million shares, AQR and Qube roughly doubled their holdings, and institutional investors/hedge funds now own about 66.29% of ED.
• Fundamentals and shareholder return: Con Edison beat quarterly estimates (EPS $0.89 vs. $0.86; revenue $4.0B vs. $3.71B), set FY2026 EPS guidance of $6.00–$6.20, and declared a quarterly dividend of $0.8875 ($3.55 annual, ~3.3% yield; ex-dividend May 13).

M&T Bank Corp trimmed its holdings in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 56.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,750 shares of the utilities provider's stock after selling 31,399 shares during the period. M&T Bank Corp's holdings in Consolidated Edison were worth $2,359,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ED. Lazard Asset Management LLC lifted its position in Consolidated Edison by 121,543.9% during the third quarter. Lazard Asset Management LLC now owns 5,960,553 shares of the utilities provider's stock valued at $599,155,000 after buying an additional 5,955,653 shares in the last quarter. AQR Capital Management LLC lifted its position in Consolidated Edison by 104.6% during the third quarter. AQR Capital Management LLC now owns 1,905,678 shares of the utilities provider's stock valued at $190,530,000 after buying an additional 974,419 shares in the last quarter. Qube Research & Technologies Ltd lifted its position in Consolidated Edison by 94.7% during the third quarter. Qube Research & Technologies Ltd now owns 1,904,876 shares of the utilities provider's stock valued at $191,478,000 after buying an additional 926,716 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Consolidated Edison by 344.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 891,895 shares of the utilities provider's stock worth $88,583,000 after purchasing an additional 691,304 shares in the last quarter. Finally, Rakuten Investment Management Inc. acquired a new position in shares of Consolidated Edison during the third quarter worth $60,497,000. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Trading Down 0.2%

NYSE ED opened at $108.89 on Tuesday. The company has a current ratio of 1.02, a quick ratio of 0.94 and a debt-to-equity ratio of 1.06. The company's fifty day simple moving average is $111.90 and its 200-day simple moving average is $104.93. The stock has a market cap of $40.12 billion, a P/E ratio of 19.27, a PEG ratio of 2.77 and a beta of 0.34. Consolidated Edison Inc has a 52 week low of $94.96 and a 52 week high of $116.23.

Consolidated Edison (NYSE:ED - Get Free Report) last issued its quarterly earnings results on Thursday, February 19th. The utilities provider reported $0.89 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.86 by $0.03. The business had revenue of $4 billion during the quarter, compared to analyst estimates of $3.71 billion. Consolidated Edison had a net margin of 11.95% and a return on equity of 8.50%. The business's revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.98 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Equities research analysts predict that Consolidated Edison Inc will post 6.08 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Wednesday, May 13th will be paid a $0.8875 dividend. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Wednesday, May 13th. Consolidated Edison's payout ratio is 62.83%.

Analysts Set New Price Targets

ED has been the topic of a number of recent research reports. JPMorgan Chase & Co. boosted their target price on shares of Consolidated Edison from $107.00 to $113.00 and gave the stock an "underweight" rating in a research report on Thursday, March 12th. Barclays boosted their target price on shares of Consolidated Edison from $100.00 to $110.00 and gave the stock an "underweight" rating in a research report on Tuesday, February 24th. Wells Fargo & Company set a $98.00 target price on shares of Consolidated Edison in a research report on Tuesday, April 21st. Citigroup reissued a "buy" rating on shares of Consolidated Edison in a research report on Monday, February 23rd. Finally, Scotiabank boosted their target price on shares of Consolidated Edison from $113.00 to $117.00 and gave the stock a "sector perform" rating in a research report on Friday, February 20th. Three equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, Consolidated Edison presently has an average rating of "Reduce" and an average target price of $108.50.

Insider Activity

In related news, SVP Deneen L. Donnley sold 1,922 shares of Consolidated Edison stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $113.94, for a total value of $218,992.68. Following the completion of the sale, the senior vice president owned 32,453 shares in the company, valued at approximately $3,697,694.82. The trade was a 5.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.19% of the company's stock.

Consolidated Edison 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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