Consolidated Edison Inc $ED Stake Increased by Quantinno Capital Management LP

Key Points

• Quantinno Capital Management increased its Consolidated Edison stake by 47.8% in the first quarter, adding 255,706 shares to own 790,832 shares worth approximately $89.5 million.
• Institutional investors own 66.29% of Consolidated Edison, with Vanguard and State Street among the company’s largest shareholders. Analysts have a consensus “Reduce” rating and an average price target of $108.47.
• Consolidated Edison declared a quarterly dividend of $0.8875 per share, equivalent to $3.55 annually and a 3.2% yield, payable September 15 to shareholders of record on August 19.

Quantinno Capital Management LP boosted its stake in Consolidated Edison Inc (NYSE:ED - Free Report) by 47.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 790,832 shares of the utilities provider's stock after acquiring an additional 255,706 shares during the period. Quantinno Capital Management LP owned 0.21% of Consolidated Edison worth $89,506,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Consolidated Edison by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 45,636,041 shares of the utilities provider's stock worth $4,532,572,000 after purchasing an additional 461,108 shares during the last quarter. State Street Corp raised its stake in Consolidated Edison by 3.6% during the fourth quarter. State Street Corp now owns 24,905,440 shares of the utilities provider's stock valued at $2,473,608,000 after buying an additional 854,868 shares in the last quarter. Lazard Asset Management LLC grew its position in shares of Consolidated Edison by 14.8% in the 1st quarter. Lazard Asset Management LLC now owns 7,075,838 shares of the utilities provider's stock worth $800,843,000 after acquiring an additional 910,244 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Consolidated Edison by 11.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,200,840 shares of the utilities provider's stock valued at $516,549,000 after acquiring an additional 514,178 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Consolidated Edison during the 4th quarter valued at approximately $489,806,000. 66.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Mizuho set a $114.00 price objective on shares of Consolidated Edison in a research report on Monday. Wells Fargo & Company set a $98.00 price target on Consolidated Edison in a research report on Tuesday, April 21st. KeyCorp reduced their price objective on Consolidated Edison from $97.00 to $94.00 and set an "underweight" rating for the company in a research report on Thursday, July 23rd. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Consolidated Edison in a research report on Tuesday, July 21st. Finally, The Goldman Sachs Group reiterated a "sell" rating and issued a $105.00 target price on shares of Consolidated Edison in a research note on Thursday, May 14th. Two investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and six have issued a Sell rating to the stock. Based on data from MarketBeat.com, Consolidated Edison presently has a consensus rating of "Reduce" and a consensus target price of $108.47.

Consolidated Edison Stock Performance

ED opened at $111.50 on Tuesday. The company has a current ratio of 1.19, a quick ratio of 1.09 and a debt-to-equity ratio of 1.00. The business's 50 day moving average is $109.14 and its 200-day moving average is $109.17. The stock has a market cap of $41.09 billion, a PE ratio of 18.77, a price-to-earnings-growth ratio of 2.93 and a beta of 0.27. Consolidated Edison Inc has a twelve month low of $94.96 and a twelve month high of $116.23.

Consolidated Edison Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Wednesday, August 19th 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, August 19th. Consolidated Edison's payout ratio is 59.76%.

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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