National Asset Management Inc. grew its stake in shares of Consolidated Edison Inc (NYSE:ED) by 2.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,455 shares of the utilities provider’s stock after purchasing an additional 207 shares during the quarter. National Asset Management Inc.’s holdings in Consolidated Edison were worth $765,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the business. BlackRock Inc. increased its position in shares of Consolidated Edison by 1.8% during the 2nd quarter. BlackRock Inc. now owns 24,544,339 shares of the utilities provider’s stock worth $1,983,672,000 after purchasing an additional 439,840 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Consolidated Edison by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 21,821,324 shares of the utilities provider’s stock worth $1,763,600,000 after purchasing an additional 516,860 shares during the last quarter. State Street Corp increased its position in shares of Consolidated Edison by 0.4% during the 1st quarter. State Street Corp now owns 19,962,044 shares of the utilities provider’s stock worth $1,550,245,000 after purchasing an additional 77,044 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Consolidated Edison by 7.1% during the 1st quarter. Geode Capital Management LLC now owns 3,071,862 shares of the utilities provider’s stock worth $238,233,000 after purchasing an additional 204,869 shares during the last quarter. Finally, Morgan Stanley increased its position in shares of Consolidated Edison by 28.0% during the 1st quarter. Morgan Stanley now owns 2,971,665 shares of the utilities provider’s stock worth $230,778,000 after purchasing an additional 649,615 shares during the last quarter. 55.06% of the stock is currently owned by hedge funds and other institutional investors.
In other Consolidated Edison news, CEO Joseph P. Oates sold 1,908 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $83.87, for a total value of $160,023.96. Following the completion of the sale, the chief executive officer now directly owns 24,017 shares of the company’s stock, valued at $2,014,305.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have purchased 158 shares of company stock valued at $13,022 over the last ninety days. 0.20% of the stock is currently owned by company insiders.
Shares of Consolidated Edison Inc (NYSE:ED) traded down 0.20% on Friday, hitting $83.36. The stock had a trading volume of 510,038 shares. The company has a market capitalization of $25.48 billion, a price-to-earnings ratio of 20.17 and a beta of 0.09. The company has a 50-day moving average of $83.11 and a 200 day moving average of $81.68. Consolidated Edison Inc has a 52 week low of $68.76 and a 52 week high of $86.16.
Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.58 EPS for the quarter, missing the Zacks’ consensus estimate of $0.61 by ($0.03). The business had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.79 billion. Consolidated Edison had a net margin of 10.57% and a return on equity of 8.59%. During the same period in the previous year, the business posted $0.60 earnings per share. On average, equities research analysts predict that Consolidated Edison Inc will post $4.09 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Wednesday, August 16th were given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date of this dividend was Monday, August 14th. Consolidated Edison’s payout ratio is 66.67%.
ED has been the topic of several recent analyst reports. Morgan Stanley boosted their price target on Consolidated Edison from $78.00 to $80.00 and gave the stock an “underweight” rating in a research report on Friday, September 8th. Zacks Investment Research lowered Consolidated Edison from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. Jefferies Group LLC reaffirmed a “hold” rating and set a $83.50 price target on shares of Consolidated Edison in a research report on Thursday, August 31st. Finally, BidaskClub lowered Consolidated Edison from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 24th. Five analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $77.77.
Consolidated Edison Company Profile
Consolidated Edison, Inc (Con Edison) is a holding company. The Company operates through its subsidiaries, which include Consolidated Edison Company of New York, Inc (CECONY), Orange and Rockland Utilities, Inc (O&R), Con Edison Clean Energy Businesses, Inc (the Clean Energy Businesses) and Con Edison Transmission, Inc (Con Edison Transmission).
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