Victory Capital Management Inc. cut its position in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 17.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 552,607 shares of the utilities provider's stock after selling 115,469 shares during the period. Victory Capital Management Inc. owned approximately 0.15% of Consolidated Edison worth $61,113,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of ED. Revolve Wealth Partners LLC boosted its stake in Consolidated Edison by 13.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider's stock worth $332,000 after buying an additional 441 shares during the period. Horizon Investments LLC grew its holdings in shares of Consolidated Edison by 2.4% in the fourth quarter. Horizon Investments LLC now owns 6,312 shares of the utilities provider's stock valued at $563,000 after purchasing an additional 147 shares in the last quarter. Xponance Inc. grew its holdings in shares of Consolidated Edison by 4.3% in the fourth quarter. Xponance Inc. now owns 52,823 shares of the utilities provider's stock valued at $4,713,000 after purchasing an additional 2,162 shares in the last quarter. Vinva Investment Management Ltd grew its holdings in shares of Consolidated Edison by 128.4% in the fourth quarter. Vinva Investment Management Ltd now owns 18,303 shares of the utilities provider's stock valued at $1,632,000 after purchasing an additional 10,290 shares in the last quarter. Finally, Royal London Asset Management Ltd. grew its holdings in shares of Consolidated Edison by 82.9% in the fourth quarter. Royal London Asset Management Ltd. now owns 260,860 shares of the utilities provider's stock valued at $23,277,000 after purchasing an additional 118,260 shares in the last quarter. 66.29% of the stock is owned by hedge funds and other institutional investors.
Consolidated Edison Stock Performance
Shares of ED traded up $1.23 during midday trading on Tuesday, hitting $103.30. 341,034 shares of the stock traded hands, compared to its average volume of 2,400,665. Consolidated Edison Inc has a 1-year low of $87.28 and a 1-year high of $114.87. The business's 50 day moving average price is $101.68 and its two-hundred day moving average price is $101.89. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.19 and a current ratio of 1.28. The firm has a market capitalization of $37.22 billion, a PE ratio of 19.10, a price-to-earnings-growth ratio of 3.23 and a beta of 0.26.
Consolidated Edison (NYSE:ED - Get Free Report) last issued 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 business had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.21 billion. During the same quarter last year, the firm posted $2.15 earnings per share. Equities research analysts predict that Consolidated Edison Inc will post 5.62 EPS for the current fiscal year.
Consolidated Edison Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Wednesday, August 13th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 3.29%. The ex-dividend date is Wednesday, August 13th. Consolidated Edison's dividend payout ratio (DPR) is currently 62.85%.
Wall Street Analyst Weigh In
ED has been the subject of a number of recent research reports. Mizuho upgraded shares of Consolidated Edison from a "neutral" rating to an "outperform" rating and increased their price target for the stock from $105.00 to $107.00 in a research note on Monday, June 30th. Wells Fargo & Company upped 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. Morgan Stanley cut their price objective on shares of Consolidated Edison from $93.00 to $92.00 and set an "underweight" rating for the company in a research report on Wednesday, June 18th. Barclays upped their price objective on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock an "underweight" rating in a research report on Monday, May 5th. Finally, KeyCorp reaffirmed an "overweight" rating on shares of Consolidated Edison in a research note on Wednesday, July 16th. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $105.09.
Check Out Our Latest Research Report on ED
Consolidated Edison Company Profile
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Free Report)
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.
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