Varma Mutual Pension Insurance Co Has $13.90 Million Holdings in Consolidated Edison Inc $ED

Key Points

• Varma Mutual Pension Insurance Co raised its stake in Consolidated Edison by 13.6%, buying 16,700 shares to hold 139,915 shares valued at about $13.90 million.
• Consolidated Edison announced a quarterly dividend of $0.8875 per share (annualized $3.55), a 3.2% yield with an ex-dividend date of May 13 and payment on June 15.
• Analysts are mixed: the consensus rating is "Reduce" with a $108.92 price target, based on 3 Buys, 6 Holds and 5 Sells.

Varma Mutual Pension Insurance Co raised its holdings in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 13.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 139,915 shares of the utilities provider's stock after purchasing an additional 16,700 shares during the period. Varma Mutual Pension Insurance Co's holdings in Consolidated Edison were worth $13,896,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Consolidated Edison by 13.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 72,819 shares of the utilities provider's stock worth $7,320,000 after buying an additional 8,562 shares during the period. Nuance Investments LLC acquired a new stake in shares of Consolidated Edison during the third quarter worth $4,017,000. Bryce Point Capital LLC acquired a new stake in shares of Consolidated Edison during the third quarter worth $556,000. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Consolidated Edison by 3.0% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,028,686 shares of the utilities provider's stock worth $103,404,000 after buying an additional 29,606 shares during the period. Finally, Caprock Group LLC acquired a new stake in shares of Consolidated Edison during the third quarter worth $2,586,000. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ED. KeyCorp increased their price objective on shares of Consolidated Edison from $96.00 to $97.00 and gave the stock an "underweight" rating in a research report on Tuesday, April 21st. Morgan Stanley decreased their price objective on shares of Consolidated Edison from $106.00 to $105.00 and set an "overweight" rating for the company in a research report on Tuesday, April 21st. Royal Bank Of Canada reiterated a "sector perform" rating and set a $118.00 price objective on shares of Consolidated Edison in a research report on Friday, January 23rd. UBS Group increased their price objective on shares of Consolidated Edison from $108.00 to $112.00 and gave the stock a "neutral" rating in a research report on Friday, January 23rd. Finally, Bank of America reiterated an "underperform" rating and set a $104.00 price objective on shares of Consolidated Edison in a research report on Wednesday, February 25th. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Reduce" and a consensus price target of $108.92.

Insider Activity

In other news, SVP Deneen L. Donnley sold 1,922 shares of Consolidated Edison stock in a transaction dated 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 transaction, the senior vice president directly owned 32,453 shares in the company, valued at $3,697,694.82. This trade represents a 5.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.15% of the stock is owned by corporate insiders.

Consolidated Edison Trading Down 0.7%

NYSE:ED opened at $109.73 on Tuesday. The company has a current ratio of 1.02, a quick ratio of 0.94 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $40.43 billion, a price-to-earnings ratio of 19.42, a PEG ratio of 2.81 and a beta of 0.29. The firm has a fifty day simple moving average of $111.76 and a two-hundred day simple moving average of $105.11. Consolidated Edison Inc has a 12 month low of $94.96 and a 12 month high of $116.23.

Consolidated Edison (NYSE:ED - Get Free Report) last issued its quarterly earnings data on Thursday, February 19th. The utilities provider reported $0.89 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.86 by $0.03. The firm had revenue of $4 billion during the quarter, compared to analysts' expectations of $3.71 billion. Consolidated Edison had a net margin of 11.95% and a return on equity of 8.50%. The business's revenue was up 8.9% on a year-over-year basis. During the same period last year, the company earned $0.98 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Analysts expect that Consolidated Edison Inc will post 6.08 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Wednesday, May 13th will be issued a dividend of $0.8875 per share. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Wednesday, May 13th. Consolidated Edison's dividend payout ratio (DPR) is currently 62.83%.

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.