Consolidated Edison Inc (NYSE:ED) Shares Sold by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. decreased its position in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 2.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 651,791 shares of the utilities provider's stock after selling 15,856 shares during the period. Robeco Institutional Asset Management B.V. owned about 0.18% of Consolidated Edison worth $72,082,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Merit Financial Group LLC boosted its position in Consolidated Edison by 16.8% in the 1st quarter. Merit Financial Group LLC now owns 10,666 shares of the utilities provider's stock valued at $1,180,000 after buying an additional 1,533 shares during the period. Jones Financial Companies Lllp raised its stake in shares of Consolidated Edison by 81.4% in the fourth quarter. Jones Financial Companies Lllp now owns 9,921 shares of the utilities provider's stock valued at $885,000 after acquiring an additional 4,451 shares in the last quarter. Ritholtz Wealth Management purchased a new position in Consolidated Edison in the first quarter valued at $227,000. Wealth Enhancement Advisory Services LLC grew its stake in Consolidated Edison by 2.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 250,014 shares of the utilities provider's stock worth $27,649,000 after purchasing an additional 6,869 shares in the last quarter. Finally, Orion Portfolio Solutions LLC grew its stake in Consolidated Edison by 22.2% during the 4th quarter. Orion Portfolio Solutions LLC now owns 7,516 shares of the utilities provider's stock worth $671,000 after purchasing an additional 1,366 shares in the last quarter. Institutional investors and hedge funds own 66.29% of the company's stock.

Consolidated Edison Stock Down 0.3%

Shares of NYSE:ED traded down $0.28 during trading on Friday, hitting $98.13. 2,880,053 shares of the company were exchanged, compared to its average volume of 2,368,610. The firm's 50 day moving average price is $105.13 and its 200-day moving average price is $100.65. Consolidated Edison Inc has a 12-month low of $87.28 and a 12-month high of $114.87. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.28 and a quick ratio of 1.19. The stock has a market capitalization of $35.36 billion, a P/E ratio of 18.14, a PEG ratio of 3.13 and a beta of 0.27.

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

Consolidated Edison Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Wednesday, May 14th were paid a dividend of $0.85 per share. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $3.40 dividend on an annualized basis and a yield of 3.46%. Consolidated Edison's dividend payout ratio is presently 62.85%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ED shares. KeyCorp lowered Consolidated Edison from a "sector weight" rating to an "underweight" rating and set a $90.00 price target on the stock. in a research report on Wednesday, May 14th. UBS Group raised their target price on shares of Consolidated Edison from $110.00 to $113.00 and gave the company a "neutral" rating in a report on Friday, March 21st. Barclays lifted their price target on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock an "underweight" rating in a research note on Monday, May 5th. Morgan Stanley dropped their price objective on shares of Consolidated Edison from $93.00 to $92.00 and set an "underweight" rating on the stock in a research report on Wednesday, June 18th. Finally, Wells Fargo & Company lifted their price objective on shares of Consolidated Edison from $103.00 to $114.00 and gave the stock an "equal weight" rating in a research report on Friday, May 2nd. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $104.18.

Consolidated Edison Profile

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.