Victory Capital Management Inc. Has $61.11 Million Stock Position in Consolidated Edison Inc (NYSE:ED)

Victory Capital Management Inc. decreased its holdings in Consolidated Edison Inc (NYSE:ED - Free Report) by 17.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 552,607 shares of the utilities provider's stock after selling 115,469 shares during the quarter. Victory Capital Management Inc. owned about 0.15% of Consolidated Edison worth $61,113,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ED. Bridgewater Advisors Inc. acquired a new position in Consolidated Edison in the 1st quarter valued at $619,000. Tectonic Advisors LLC increased its stake in Consolidated Edison by 9.1% in the 1st quarter. Tectonic Advisors LLC now owns 73,129 shares of the utilities provider's stock valued at $8,087,000 after buying an additional 6,097 shares during the period. Grant Street Asset Management Inc. acquired a new position in Consolidated Edison in the 1st quarter valued at $209,000. Sage Mountain Advisors LLC acquired a new position in Consolidated Edison in the 1st quarter valued at $651,000. Finally, Wealthfront Advisers LLC increased its stake in Consolidated Edison by 52.6% in the 1st quarter. Wealthfront Advisers LLC now owns 146,679 shares of the utilities provider's stock valued at $16,221,000 after buying an additional 50,582 shares during the period. Hedge funds and other institutional investors own 66.29% of the company's stock.

Consolidated Edison Trading Up 1.5%

ED stock traded up $1.54 during midday trading on Tuesday, reaching $103.61. The stock had a trading volume of 1,663,782 shares, compared to its average volume of 2,409,236. The business has a fifty day simple moving average of $101.68 and a two-hundred day simple moving average of $101.89. The company has a quick ratio of 1.19, a current ratio of 1.28 and a debt-to-equity ratio of 1.04. The firm has a market cap of $37.33 billion, a price-to-earnings ratio of 19.15, a PEG ratio of 3.26 and a beta of 0.26. Consolidated Edison Inc has a twelve month low of $87.28 and a twelve month high of $114.87.

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

Consolidated Edison Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Wednesday, August 13th will be given a $0.85 dividend. The ex-dividend date is Wednesday, August 13th. This represents a $3.40 annualized dividend and a dividend yield of 3.28%. Consolidated Edison's dividend payout ratio is presently 62.85%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Mizuho upgraded shares of Consolidated Edison from a "neutral" rating to an "outperform" rating and raised their target price for the company from $105.00 to $107.00 in a report on Monday, June 30th. KeyCorp reiterated an "overweight" rating on shares of Consolidated Edison in a report on Wednesday, July 16th. Guggenheim lifted their price target on shares of Consolidated Edison from $96.00 to $103.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. 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 report on Monday, May 5th. Finally, Wells Fargo & Company lifted their price target on shares of Consolidated Edison from $103.00 to $114.00 and gave the stock an "equal weight" rating in a report on Friday, May 2nd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $105.09.

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.