Intech Investment Management LLC Sells 18,531 Shares of Consolidated Edison Inc $ED

Key Points

• Intech Investment Management reduced its stake in Consolidated Edison by 9.7% in the fourth quarter, selling 18,531 shares and leaving it with 172,225 shares worth about $17.1 million.
• Consolidated Edison reported Q1 earnings and revenue below analyst expectations, with EPS of $2.18 versus $2.28 expected and revenue of $5.10 billion versus $5.22 billion expected.
• The company declared a quarterly dividend of $0.8875 per share, payable June 15, implying an annualized yield of about 3.3% at current prices.

Intech Investment Management LLC lessened its holdings in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 9.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 172,225 shares of the utilities provider's stock after selling 18,531 shares during the period. Intech Investment Management LLC's holdings in Consolidated Edison were worth $17,105,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ED. JPL Wealth Management LLC bought a new position in Consolidated Edison during the 3rd quarter worth $26,000. Aventura Private Wealth LLC bought a new stake in shares of Consolidated Edison during the 4th quarter worth $27,000. Westfuller Advisors LLC acquired a new stake in Consolidated Edison in the fourth quarter valued at about $27,000. Dorato Capital Management bought a new position in Consolidated Edison in the fourth quarter valued at about $28,000. Finally, WealthCollab LLC increased its position in Consolidated Edison by 68.4% during the 4th quarter. WealthCollab LLC now owns 315 shares of the utilities provider's stock worth $31,000 after purchasing an additional 128 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related 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 transaction, the senior vice president owned 32,453 shares in the company, valued at $3,697,694.82. The trade was a 5.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.15% of the company's stock.

Consolidated Edison Price Performance

ED opened at $106.31 on Friday. The stock has a market capitalization of $39.18 billion, a P/E ratio of 17.90, a PEG ratio of 2.74 and a beta of 0.29. The company has a current ratio of 1.19, a quick ratio of 1.09 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 stock has a 50-day moving average price of $109.92 and a 200-day moving average price of $106.10.

Consolidated Edison (NYSE:ED - Get Free Report) last issued its earnings results on Thursday, May 7th. The utilities provider reported $2.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.28 by ($0.10). The firm had revenue of $5.10 billion during the quarter, compared to analysts' expectations 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 in the prior year, the company earned $2.26 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Equities analysts predict that Consolidated Edison Inc will post 6.09 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts recently commented on ED shares. Evercore set a $116.00 target price on shares of Consolidated Edison in a research report on Monday, May 11th. Weiss Ratings upgraded shares of Consolidated Edison from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, April 24th. The Goldman Sachs Group reissued a "sell" rating and set a $105.00 price target on shares of Consolidated Edison in a research report on Thursday, May 14th. Bank of America reissued an "underperform" rating and issued a $104.00 price objective on shares of Consolidated Edison in a research report on Wednesday, February 25th. Finally, Morgan Stanley set a $99.00 target price on shares of Consolidated Edison in a research report on Thursday, May 21st. Three analysts have rated the stock with a Buy rating, six have issued a Hold rating and six have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and a consensus target price of $108.71.

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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