World Investment Advisors Grows Stock Holdings in Consolidated Edison Inc $ED

Key Points

• World Investment Advisors increased its stake in Consolidated Edison by 143.2% in the fourth quarter, ending with 31,871 shares worth about $3.17 million.
• Consolidated Edison reported Q1 earnings that missed estimates, posting EPS of $2.18 versus the expected $2.28 and revenue of $5.10 billion versus $5.22 billion.
• The company declared a quarterly dividend of $0.8875 per share, or $3.55 annually, implying a 3.3% yield; analysts currently have a consensus rating of “Reduce” with an average price target of $109.14.

World Investment Advisors boosted its holdings in Consolidated Edison Inc (NYSE:ED - Free Report) by 143.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,871 shares of the utilities provider's stock after buying an additional 18,764 shares during the period. World Investment Advisors' holdings in Consolidated Edison were worth $3,165,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. grew its stake in Consolidated Edison by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 45,636,041 shares of the utilities provider's stock valued at $4,532,572,000 after buying an additional 461,108 shares in the last quarter. State Street Corp grew its stake in Consolidated Edison by 0.3% in the 3rd quarter. State Street Corp now owns 24,050,572 shares of the utilities provider's stock valued at $2,417,563,000 after buying an additional 63,346 shares in the last quarter. Lazard Asset Management LLC grew its stake in Consolidated Edison by 121,543.9% in the 3rd quarter. Lazard Asset Management LLC now owns 5,960,553 shares of the utilities provider's stock valued at $599,155,000 after buying an additional 5,955,653 shares in the last quarter. Legal & General Group Plc grew its stake in Consolidated Edison by 1.2% in the 3rd quarter. Legal & General Group Plc now owns 4,351,530 shares of the utilities provider's stock valued at $437,416,000 after buying an additional 52,061 shares in the last quarter. Finally, Northern Trust Corp grew its stake in Consolidated Edison by 1.4% in the 3rd quarter. Northern Trust Corp now owns 4,128,793 shares of the utilities provider's stock valued at $415,026,000 after buying an additional 57,365 shares in the last quarter. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Deneen L. Donnley sold 1,922 shares of Consolidated Edison stock in a transaction on 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 sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.15% of the company's stock.

Consolidated Edison Stock Up 0.8%

Shares of NYSE:ED opened at $107.06 on Friday. The firm has a fifty day moving average price of $111.02 and a two-hundred day moving average price of $105.42. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.19 and a quick ratio of 1.09. Consolidated Edison Inc has a one year low of $94.96 and a one year high of $116.23. The company has a market cap of $39.45 billion, a price-to-earnings ratio of 18.02, a PEG ratio of 2.70 and a beta of 0.29.

Consolidated Edison (NYSE:ED - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The utilities provider reported $2.18 EPS for the quarter, missing the consensus estimate of $2.28 by ($0.10). Consolidated Edison had a net margin of 12.52% and a return on equity of 8.33%. The firm had revenue of $5.10 billion during the quarter, compared to the consensus estimate of $5.22 billion. During the same period in the previous year, the business earned $2.26 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Analysts anticipate that Consolidated Edison Inc will post 6.09 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The business 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 3.3%. The ex-dividend date of this dividend is Wednesday, May 13th. Consolidated Edison's payout ratio is currently 59.76%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on ED shares. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $118.00 price objective on shares of Consolidated Edison in a research note on Friday, January 23rd. Weiss Ratings upgraded shares of Consolidated Edison from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, April 24th. Bank of America reissued an "underperform" rating and issued a $104.00 price target on shares of Consolidated Edison in a report on Wednesday, February 25th. KeyCorp raised their price target on shares of Consolidated Edison from $96.00 to $97.00 and gave the company an "underweight" rating in a report on Tuesday, April 21st. Finally, TD Cowen raised their price target on shares of Consolidated Edison from $105.00 to $112.00 and gave the company a "hold" rating in a report on Tuesday, February 24th. Three analysts have rated the stock with a Buy rating, six have assigned a Hold rating and six have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Reduce" and an average target price of $109.14.

About Consolidated Edison

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.

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