Consolidated Edison Inc $ED Shares Sold by State of Michigan Retirement System

Key Points

• Institutional rebalancing: State of Michigan Retirement System trimmed its stake in Consolidated Edison by 10.1% (sold 11,200 shares, leaving 99,642 shares worth $9.90M), while Lazard Asset Management massively increased its position to ~5.96M shares; institutional investors own about 66.29% of the stock.
• Earnings and guidance: Con Ed beat Q results with EPS of $0.89 vs. $0.86 and revenue of $4.0B, and set FY 2026 guidance of 6.00–6.20 EPS (analysts forecast ~6.08 EPS).
• Dividend and analyst view: The company declared a quarterly dividend of $0.8875 ($3.55 annualized, ~3.2% yield; ex-dividend May 13, pay June 15), while the consensus analyst rating is "Reduce" with an average target price of $108.50.

State of Michigan Retirement System decreased its position in Consolidated Edison Inc (NYSE:ED - Free Report) by 10.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 99,642 shares of the utilities provider's stock after selling 11,200 shares during the quarter. State of Michigan Retirement System's holdings in Consolidated Edison were worth $9,896,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in ED. Lazard Asset Management LLC grew its position in shares of Consolidated Edison by 121,543.9% in the 3rd quarter. Lazard Asset Management LLC now owns 5,960,553 shares of the utilities provider's stock worth $599,155,000 after acquiring an additional 5,955,653 shares in the last quarter. AQR Capital Management LLC grew its position in shares of Consolidated Edison by 104.6% in the 3rd quarter. AQR Capital Management LLC now owns 1,905,678 shares of the utilities provider's stock worth $190,530,000 after acquiring an additional 974,419 shares in the last quarter. Qube Research & Technologies Ltd grew its position in shares of Consolidated Edison by 94.7% in the 3rd quarter. Qube Research & Technologies Ltd now owns 1,904,876 shares of the utilities provider's stock worth $191,478,000 after acquiring an additional 926,716 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of Consolidated Edison by 344.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 891,895 shares of the utilities provider's stock worth $88,583,000 after acquiring an additional 691,304 shares in the last quarter. Finally, Rakuten Investment Management Inc. acquired a new position in shares of Consolidated Edison in the 3rd quarter worth approximately $60,497,000. Institutional investors and hedge funds own 66.29% of the company's stock.

Consolidated Edison Trading Up 0.8%

NYSE:ED opened at $109.71 on Wednesday. Consolidated Edison Inc has a 12-month low of $94.96 and a 12-month high of $116.23. The firm has a market capitalization of $40.42 billion, a P/E ratio of 19.42, a P/E/G ratio of 2.77 and a beta of 0.34. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.02 and a quick ratio of 0.94. The business has a 50 day simple moving average of $111.82 and a 200 day simple moving average of $104.99.

Consolidated Edison (NYSE:ED - Get Free Report) last released its quarterly earnings data on Thursday, February 19th. The utilities provider reported $0.89 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.86 by $0.03. Consolidated Edison had a return on equity of 8.50% and a net margin of 11.95%.The business had revenue of $4 billion during the quarter, compared to analyst estimates of $3.71 billion. During the same quarter in the previous year, the firm posted $0.98 EPS. The business's revenue for the quarter was up 8.9% compared to the same quarter last year. 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 year.

Consolidated Edison Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Wednesday, May 13th will be given a dividend of $0.8875 per share. This represents a $3.55 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Wednesday, May 13th. Consolidated Edison's payout ratio is 62.83%.

Insider Transactions at Consolidated Edison

In other Consolidated Edison news, SVP Deneen L. Donnley sold 1,922 shares of the business's stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $113.94, for a total transaction of $218,992.68. Following the completion of the transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.15% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on ED shares. Morgan Stanley decreased their target price on Consolidated Edison from $106.00 to $105.00 and set an "overweight" rating for the company in a research report on Tuesday, April 21st. Mizuho set a $118.00 price objective on Consolidated Edison in a research report on Monday, February 23rd. UBS Group boosted their price objective on Consolidated Edison from $108.00 to $112.00 and gave the company a "neutral" rating in a research report on Friday, January 23rd. KeyCorp boosted their price objective on Consolidated Edison from $96.00 to $97.00 and gave the company an "underweight" rating in a research report on Tuesday, April 21st. Finally, Barclays boosted their price objective on Consolidated Edison from $100.00 to $110.00 and gave the company an "underweight" rating in a research report on Tuesday, February 24th. Three investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat.com, Consolidated Edison presently has a consensus rating of "Reduce" and an average target price of $108.50.

About Consolidated Edison

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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