Nomura Asset Management Co. Ltd. Cuts Stock Holdings in Consolidated Edison Inc $ED

Key Points

• Nomura Asset Management trimmed its stake in Consolidated Edison by 4.0% in the fourth quarter, selling 20,721 shares and ending with 497,860 shares worth about $49.4 million.
• Consolidated Edison reported Q1 earnings of $2.18 per share, missing analyst estimates of $2.28, while revenue also came in below expectations at $5.10 billion.
• The company declared a quarterly dividend of $0.8875 per share, equal to an annualized yield of about 3.4%, while analysts currently hold a consensus rating of “Reduce” with a $108.71 price target.

Nomura Asset Management Co. Ltd. decreased its holdings in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 4.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 497,860 shares of the utilities provider's stock after selling 20,721 shares during the period. Nomura Asset Management Co. Ltd. owned 0.14% of Consolidated Edison worth $49,447,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in ED. Revolve Wealth Partners LLC increased its position in Consolidated Edison by 13.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider's stock valued at $332,000 after purchasing an additional 441 shares during the period. Empowered Funds LLC increased its position in Consolidated Edison by 42.1% during the 1st quarter. Empowered Funds LLC now owns 8,978 shares of the utilities provider's stock valued at $993,000 after purchasing an additional 2,659 shares during the period. Woodline Partners LP increased its position in Consolidated Edison by 40.7% during the 1st quarter. Woodline Partners LP now owns 29,271 shares of the utilities provider's stock valued at $3,237,000 after purchasing an additional 8,468 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in Consolidated Edison during the 2nd quarter valued at about $3,256,000. Finally, Baird Financial Group Inc. increased its position in Consolidated Edison by 2.1% during the 2nd quarter. Baird Financial Group Inc. now owns 14,679 shares of the utilities provider's stock valued at $1,473,000 after purchasing an additional 296 shares during the period. Hedge funds and other institutional investors own 66.29% of the company's stock.

Consolidated Edison Stock Up 0.2%

ED stock opened at $105.88 on Monday. The firm has a 50 day moving average of $109.77 and a 200 day moving average of $106.15. The stock has a market capitalization of $39.02 billion, a PE ratio of 17.82, a price-to-earnings-growth ratio of 2.68 and a beta of 0.27. 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 52 week low of $94.96 and a 52 week high of $116.23.

Consolidated Edison (NYSE:ED - Get Free Report) last released its earnings results 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 during 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 quarter last year, the business earned $2.26 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Sell-side analysts forecast that Consolidated Edison Inc will post 6.09 earnings per share for the current year.

Consolidated Edison Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Wednesday, May 13th will be paid a $0.8875 dividend. The ex-dividend date is Wednesday, May 13th. This represents a $3.55 dividend on an annualized basis and a yield of 3.4%. Consolidated Edison's dividend payout ratio (DPR) is 59.76%.

Insider Buying and Selling

In other Consolidated Edison news, SVP Deneen L. Donnley sold 1,922 shares of Consolidated Edison stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $113.94, for a total transaction of $218,992.68. Following the completion of the sale, 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 sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.15% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on ED shares. Wells Fargo & Company set a $98.00 price objective on shares of Consolidated Edison in a research report on Tuesday, April 21st. Citigroup reaffirmed a "buy" rating on shares of Consolidated Edison in a research report on Monday, February 23rd. Morgan Stanley set a $99.00 price objective on shares of Consolidated Edison in a research report on Thursday, May 21st. JPMorgan Chase & Co. lifted their price objective on shares of Consolidated Edison from $107.00 to $113.00 and gave the stock an "underweight" rating in a research report on Thursday, March 12th. Finally, Mizuho set a $118.00 price objective on shares of Consolidated Edison in a research report on Monday, February 23rd. Three research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and six have assigned a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Reduce" and a consensus price target of $108.71.

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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