Ilmarinen Mutual Pension Insurance Co Acquires Shares of 58,000 Consolidated Edison Inc $ED

Key Points

• Ilmarinen Mutual Pension Insurance Co initiated a new position in Consolidated Edison, buying 58,000 shares valued at about $5.76 million in the fourth quarter.
• Analyst sentiment remains cautious: Consolidated Edison has a consensus rating of “Reduce” and an average target price of $108.71, with mixed views from firms like TD Cowen, Barclays, and Evercore.
• The company recently reported Q1 results below expectations with EPS of $2.18 versus the $2.28 estimate, while also announcing a quarterly dividend of $0.8875 per share payable June 15, implying a 3.3% yield.

Ilmarinen Mutual Pension Insurance Co acquired a new stake in Consolidated Edison Inc (NYSE:ED - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 58,000 shares of the utilities provider's stock, valued at approximately $5,761,000.

Several other institutional investors have also recently bought and sold shares of the business. Meadowbrook Wealth Management LLC raised its position in Consolidated Edison by 2.2% in the 4th quarter. Meadowbrook Wealth Management LLC now owns 4,687 shares of the utilities provider's stock valued at $466,000 after purchasing an additional 100 shares during the last quarter. bLong Financial LLC raised its position in Consolidated Edison by 1.3% in the 4th quarter. bLong Financial LLC now owns 7,775 shares of the utilities provider's stock valued at $772,000 after purchasing an additional 100 shares during the last quarter. Bridgewater Advisors Inc. raised its position in Consolidated Edison by 1.6% in the 4th quarter. Bridgewater Advisors Inc. now owns 6,635 shares of the utilities provider's stock valued at $689,000 after purchasing an additional 105 shares during the last quarter. HighPoint Advisor Group LLC raised its position in Consolidated Edison by 0.7% in the 3rd quarter. HighPoint Advisor Group LLC now owns 14,811 shares of the utilities provider's stock valued at $1,489,000 after purchasing an additional 110 shares during the last quarter. Finally, JFS Wealth Advisors LLC increased its stake in shares of Consolidated Edison by 36.4% in the 3rd quarter. JFS Wealth Advisors LLC now owns 412 shares of the utilities provider's stock valued at $41,000 after buying an additional 110 shares during the period. Institutional investors own 66.29% of the company's stock.

Wall Street Analyst Weigh In

ED has been the subject of a number of recent research reports. TD Cowen boosted their target price on Consolidated Edison from $105.00 to $112.00 and gave the stock a "hold" rating in a research report on Tuesday, February 24th. Morgan Stanley set a $99.00 target price on Consolidated Edison in a research report on Thursday, May 21st. Barclays dropped their target price on Consolidated Edison from $110.00 to $107.00 and set an "underweight" rating for the company in a research report on Monday, May 11th. Evercore set a $116.00 target price on Consolidated Edison in a research report on Monday, May 11th. Finally, Wells Fargo & Company set a $98.00 target price on Consolidated Edison in a research report on Tuesday, April 21st. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and six have issued a Sell rating to the company's stock. Based on data from MarketBeat, Consolidated Edison has a consensus rating of "Reduce" and a consensus target price of $108.71.

Insider Activity

In other news, SVP Deneen L. Donnley sold 1,922 shares of the business's stock in a transaction dated 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 directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.15% of the company's stock.

Consolidated Edison Stock Down 1.6%

Shares of Consolidated Edison stock opened at $106.31 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.19 and a debt-to-equity ratio of 1.00. Consolidated Edison Inc has a 12 month low of $94.96 and a 12 month high of $116.23. The business has a fifty day simple moving average of $109.92 and a 200 day simple moving average of $106.10. The stock has a market cap of $39.18 billion, a PE ratio of 17.90, a price-to-earnings-growth ratio of 2.74 and a beta of 0.29.

Consolidated Edison (NYSE:ED - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The utilities provider reported $2.18 EPS for the quarter, missing analysts' consensus estimates of $2.28 by ($0.10). The company had revenue of $5.10 billion for the quarter, compared to analyst estimates of $5.22 billion. Consolidated Edison had a return on equity of 8.33% and a net margin of 12.52%.During the same period last year, the firm earned $2.26 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Research analysts predict that Consolidated Edison Inc will post 6.09 EPS for the current year.

Consolidated Edison Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Wednesday, May 13th will be given a dividend of $0.8875 per share. This represents a $3.55 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Wednesday, May 13th. Consolidated Edison's payout ratio is presently 59.76%.

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.

Want to see what other hedge funds are holding ED? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Consolidated Edison Inc (NYSE:ED - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.