Ossiam Purchases 162,025 Shares of Consolidated Edison Inc $ED

Key Points

• Ossiam boosted its stake in Consolidated Edison by 9,387.3%$16.46 million at quarter-end.
• Consolidated Edison raised its quarterly dividend to $0.8875 (annualized $3.55), a yield of about 3.1% and a payout ratio near 62.8%.
• The company beat quarterly estimates with $0.89 EPS on $4.0B revenue and set FY2026 guidance of 6.00–6.20 EPS, though analysts' consensus rating is currently "Reduce" with a $108.80 price target.

Ossiam lifted its position in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 9,387.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 163,751 shares of the utilities provider's stock after purchasing an additional 162,025 shares during the period. Ossiam's holdings in Consolidated Edison were worth $16,460,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Certuity LLC lifted its holdings in shares of Consolidated Edison by 2.7% in the 2nd quarter. Certuity LLC now owns 3,743 shares of the utilities provider's stock worth $376,000 after acquiring an additional 100 shares during the last quarter. Stephens Inc. AR grew its holdings in shares of Consolidated Edison by 0.8% during the 3rd quarter. Stephens Inc. AR now owns 13,791 shares of the utilities provider's stock valued at $1,386,000 after purchasing an additional 105 shares during the last quarter. Bridgewater Advisors Inc. raised its position in Consolidated Edison by 1.7% in the 3rd quarter. Bridgewater Advisors Inc. now owns 6,530 shares of the utilities provider's stock worth $618,000 after purchasing an additional 107 shares during the period. 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 worth $1,489,000 after purchasing an additional 110 shares during the period. Finally, JFS Wealth Advisors LLC lifted its stake in Consolidated Edison by 36.4% in the third quarter. JFS Wealth Advisors LLC now owns 412 shares of the utilities provider's stock worth $41,000 after purchasing an additional 110 shares during the last quarter. 66.29% of the stock is owned by institutional investors.

Insider Activity

In other news, SVP Deneen L. Donnley sold 1,922 shares of the business's stock in a transaction that occurred on 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 directly owned 32,453 shares of the company's stock, valued at approximately $3,697,694.82. The trade was a 5.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.19% of the company's stock.

Consolidated Edison Stock Performance

Shares of NYSE:ED opened at $114.85 on Friday. The company has a market cap of $41.49 billion, a price-to-earnings ratio of 20.33, a price-to-earnings-growth ratio of 3.04 and a beta of 0.38. The company has a 50-day moving average price of $107.57 and a 200-day moving average price of $101.90. The company has a current ratio of 1.02, a quick ratio of 0.94 and a debt-to-equity ratio of 1.06. Consolidated Edison Inc has a 12 month low of $94.96 and a 12 month high of $115.37.

Consolidated Edison (NYSE:ED - Get Free Report) last posted its earnings results on Thursday, February 19th. The utilities provider reported $0.89 earnings per share for the quarter, topping analysts' consensus estimates of $0.86 by $0.03. Consolidated Edison had a net margin of 11.95% and a return on equity of 8.50%. The company had revenue of $4 billion during the quarter, compared to analyst estimates of $3.71 billion. During the same period in the prior year, the business posted $0.98 earnings per share. Consolidated Edison's revenue for the quarter was up 8.9% on a year-over-year basis. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. As a group, equities analysts anticipate that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Wednesday, February 18th will be given a $0.8875 dividend. The ex-dividend date is Wednesday, February 18th. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.1%. This is an increase from Consolidated Edison's previous quarterly dividend of $0.85. Consolidated Edison's dividend payout ratio is 62.83%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Scotiabank raised their price objective on Consolidated Edison from $113.00 to $117.00 and gave the company a "sector perform" rating in a research note on Friday, February 20th. JPMorgan Chase & Co. boosted their target price on Consolidated Edison from $107.00 to $113.00 and gave the company an "underweight" rating in a research note on Thursday. Citigroup restated a "buy" rating on shares of Consolidated Edison in a report on Monday, February 23rd. Wells Fargo & Company decreased their price target on Consolidated Edison from $99.00 to $95.00 and set an "equal weight" rating on the stock in a research note on Tuesday, January 20th. Finally, TD Cowen boosted their price objective on Consolidated Edison from $105.00 to $112.00 and gave the company a "hold" rating in a research report on Tuesday, February 24th. Three research analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Reduce" and a consensus price target of $108.80.

Consolidated Edison Company 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.

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.