iA Global Asset Management Inc. lifted its stake in Consolidated Edison Inc (NYSE:ED – Free Report) by 204.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 29,069 shares of the utilities provider’s stock after purchasing an additional 19,508 shares during the period. iA Global Asset Management Inc.’s holdings in Consolidated Edison were worth $2,887,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Lazard Asset Management LLC increased its stake in Consolidated Edison by 121,543.9% during the third quarter. Lazard Asset Management LLC now owns 5,960,553 shares of the utilities provider’s stock worth $599,155,000 after acquiring an additional 5,955,653 shares during the last quarter. PFA Pension Forsikringsaktieselskab acquired a new stake in Consolidated Edison during the fourth quarter worth $113,977,000. AQR Capital Management LLC increased its stake in Consolidated Edison by 104.6% during the third quarter. AQR Capital Management LLC now owns 1,905,678 shares of the utilities provider’s stock worth $190,530,000 after acquiring an additional 974,419 shares during the last quarter. Qube Research & Technologies Ltd increased its stake in Consolidated Edison by 94.7% during the third quarter. Qube Research & Technologies Ltd now owns 1,904,876 shares of the utilities provider’s stock worth $191,478,000 after acquiring an additional 926,716 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in Consolidated Edison by 344.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 891,895 shares of the utilities provider’s stock worth $88,583,000 after acquiring an additional 691,304 shares during the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.
Insider Activity at Consolidated Edison
In other news, SVP Deneen L. Donnley sold 1,922 shares of the firm’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $113.94, for a total transaction of $218,992.68. Following the completion of the transaction, the senior vice president directly owned 32,453 shares in the company, valued at $3,697,694.82. This trade represents a 5.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.15% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
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Consolidated Edison Trading Up 1.0%
ED opened at $106.42 on Tuesday. Consolidated Edison Inc has a 52 week low of $94.96 and a 52 week high of $116.23. The business has a fifty day simple moving average of $110.80 and a 200-day simple moving average of $105.51. The firm has a market cap of $39.22 billion, a P/E ratio of 17.92, a P/E/G ratio of 2.68 and a beta of 0.29. The company has a quick ratio of 1.09, a current ratio of 1.19 and a debt-to-equity ratio of 1.00.
Consolidated Edison (NYSE:ED – Get Free Report) last released 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 return on equity of 8.33% and a net margin of 12.52%.The firm had revenue of $5.10 billion for the quarter, compared to analysts’ expectations of $5.22 billion. During the same quarter in the prior year, the business earned $2.26 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, equities analysts expect that Consolidated Edison Inc will post 6.09 earnings per share for the current year.
Consolidated Edison Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Wednesday, May 13th will be given a dividend of $0.8875 per share. This represents a $3.55 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Wednesday, May 13th. Consolidated Edison’s dividend payout ratio (DPR) is currently 59.76%.
Consolidated Edison Company Profile
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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