IFM Investors Pty Ltd Has $14.52 Million Stock Holdings in Consolidated Edison Inc (NYSE:ED)

IFM Investors Pty Ltd lifted its stake in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 9.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 139,445 shares of the utilities provider's stock after acquiring an additional 11,769 shares during the period. IFM Investors Pty Ltd's holdings in Consolidated Edison were worth $14,520,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Alpine Bank Wealth Management acquired a new stake in Consolidated Edison during the 1st quarter worth approximately $32,000. Fort Vancouver Investment Management LLC acquired a new stake in Consolidated Edison during the 1st quarter worth approximately $33,000. OFI Invest Asset Management acquired a new stake in Consolidated Edison during the 4th quarter worth approximately $35,000. Wood Tarver Financial Group LLC acquired a new stake in Consolidated Edison during the 4th quarter worth approximately $35,000. Finally, Fairway Wealth LLC acquired a new stake in Consolidated Edison during the 4th quarter worth approximately $36,000. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Consolidated Edison Stock Performance

NYSE ED traded down $0.24 during trading on Tuesday, hitting $99.47. The company's stock had a trading volume of 1,379,341 shares, compared to its average volume of 2,392,838. The company has a quick ratio of 1.19, a current ratio of 1.28 and a debt-to-equity ratio of 1.04. The firm has a 50 day moving average price of $103.47 and a 200 day moving average price of $101.20. The firm has a market cap of $35.84 billion, a P/E ratio of 18.39, a price-to-earnings-growth ratio of 3.20 and a beta of 0.26. Consolidated Edison Inc has a 52 week low of $87.28 and a 52 week high of $114.87.

Consolidated Edison (NYSE:ED - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The utilities provider reported $2.25 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.30 by ($0.05). The firm had revenue of $4.80 billion for the quarter, compared to the consensus estimate of $4.21 billion. Consolidated Edison had a net margin of 11.98% and a return on equity of 8.61%. During the same quarter in the prior year, the firm posted $2.15 earnings per share. Equities research analysts forecast that Consolidated Edison Inc will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Wednesday, May 14th were paid a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 3.42%. The ex-dividend date was Wednesday, May 14th. Consolidated Edison's dividend payout ratio is 62.85%.

Analysts Set New Price Targets

Several brokerages have issued reports on ED. UBS Group increased their price objective on shares of Consolidated Edison from $110.00 to $113.00 and gave the company a "neutral" rating in a research report on Friday, March 21st. KeyCorp cut Consolidated Edison from a "sector weight" rating to an "underweight" rating and set a $90.00 price objective on the stock. in a research note on Wednesday, May 14th. Mizuho upgraded Consolidated Edison from a "neutral" rating to an "outperform" rating and raised their target price for the company from $105.00 to $107.00 in a research note on Monday, June 30th. Citigroup raised their target price on Consolidated Edison from $116.00 to $120.00 and gave the company a "buy" rating in a research note on Wednesday, April 9th. Finally, Wells Fargo & Company raised their price target on Consolidated Edison from $103.00 to $114.00 and gave the company an "equal weight" rating in a report on Friday, May 2nd. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $105.27.

About Consolidated Edison

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.