Los Angeles Capital Management LLC Sells 63,766 Shares of Consolidated Edison Inc $ED

Los Angeles Capital Management LLC cut its stake in shares of Consolidated Edison Inc (NYSE:ED) by 24.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 195,999 shares of the utilities provider’s stock after selling 63,766 shares during the period. Los Angeles Capital Management LLC owned 0.05% of Consolidated Edison worth $19,668,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Financial Network Wealth Advisors LLC acquired a new stake in Consolidated Edison during the 1st quarter worth approximately $33,000. Cary Street Partners Investment Advisory LLC grew its holdings in Consolidated Edison by 64.9% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 305 shares of the utilities provider’s stock valued at $34,000 after buying an additional 120 shares in the last quarter. Capital Advisors Ltd. LLC increased its position in Consolidated Edison by 53.2% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 314 shares of the utilities provider’s stock worth $32,000 after buying an additional 109 shares during the period. Bogart Wealth LLC lifted its holdings in shares of Consolidated Edison by 886.5% during the second quarter. Bogart Wealth LLC now owns 365 shares of the utilities provider’s stock worth $37,000 after buying an additional 328 shares in the last quarter. Finally, SJS Investment Consulting Inc. lifted its holdings in shares of Consolidated Edison by 1,677.3% during the second quarter. SJS Investment Consulting Inc. now owns 391 shares of the utilities provider’s stock worth $39,000 after buying an additional 369 shares in the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Wall Street Analysts Forecast Growth

ED has been the topic of several research reports. Weiss Ratings restated a “buy (b-)” rating on shares of Consolidated Edison in a research note on Wednesday. Wells Fargo & Company upgraded shares of Consolidated Edison to a “hold” rating in a research report on Tuesday, October 28th. Bank of America cut shares of Consolidated Edison from a “buy” rating to an “underperform” rating and lowered their target price for the stock from $112.00 to $101.00 in a report on Friday, August 15th. Mizuho boosted their price target on Consolidated Edison from $107.00 to $112.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Finally, Evercore ISI assumed coverage on Consolidated Edison in a research report on Tuesday, October 7th. They set an “in-line” rating and a $106.00 price target on the stock. Three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $105.08.

Consolidated Edison Price Performance

Consolidated Edison stock opened at $98.43 on Friday. The stock has a market capitalization of $35.50 billion, a P/E ratio of 17.86, a price-to-earnings-growth ratio of 2.70 and a beta of 0.32. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.10. Consolidated Edison Inc has a 52 week low of $87.28 and a 52 week high of $114.87. The stock has a fifty day moving average of $98.74 and a 200-day moving average of $101.59.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings results on Thursday, November 6th. The utilities provider reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.14. The company had revenue of $4.25 billion for the quarter, compared to analyst estimates of $4.22 billion. Consolidated Edison had a net margin of 11.98% and a return on equity of 8.56%. During the same period in the previous year, the firm posted $1.68 EPS. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. On average, sell-side analysts expect that Consolidated Edison Inc will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Wednesday, November 19th will be issued a dividend of $0.85 per share. The ex-dividend date is Wednesday, November 19th. This represents a $3.40 annualized dividend and a dividend yield of 3.5%. Consolidated Edison’s dividend payout ratio is 59.44%.

Consolidated Edison Company 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.