289,035 Consolidated Edison Inc $ED Shares Bought by International Assets Investment Management LLC

International Assets Investment Management LLC raised its stake in shares of Consolidated Edison Inc (NYSE:ED – Free Report) by 3,407.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 297,517 shares of the utilities provider’s stock after purchasing an additional 289,035 shares during the quarter. International Assets Investment Management LLC owned about 0.08% of Consolidated Edison worth $30,409,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Aberdeen Wealth Management LLC acquired a new position in shares of Consolidated Edison in the 2nd quarter valued at $27,000. Sachetta LLC raised its stake in Consolidated Edison by 72.9% in the 1st quarter. Sachetta LLC now owns 242 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 102 shares during the last quarter. Activest Wealth Management lifted its position in Consolidated Edison by 77.3% during the 3rd quarter. Activest Wealth Management now owns 250 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 109 shares during the period. Keating Financial Advisory Services Inc. acquired a new stake in Consolidated Edison during the 2nd quarter worth about $30,000. Finally, GoalVest Advisory LLC lifted its position in Consolidated Edison by 80.0% during the 3rd quarter. GoalVest Advisory LLC now owns 306 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 136 shares during the period. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Price Performance

Shares of ED opened at $116.81 on Friday. The business’s 50-day moving average is $107.73 and its two-hundred day moving average is $108.93. The company has a market capitalization of $43.20 billion, a P/E ratio of 19.18, a P/E/G ratio of 4.00 and a beta of 0.26. Consolidated Edison Inc has a fifty-two week low of $94.96 and a fifty-two week high of $117.65. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.17 and a current ratio of 1.27.

Consolidated Edison (NYSE:ED – Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The utilities provider reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.07. Consolidated Edison had a return on equity of 8.44% and a net margin of 12.53%. The business had revenue of $4.07 billion during the quarter, compared to analysts’ expectations of $3.60 billion. During the same quarter in the previous year, the firm posted $0.67 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Research analysts predict that Consolidated Edison Inc will post 6.10 earnings per share for the current year.

Consolidated Edison Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Wednesday, November 18th will be given a dividend of $0.8875 per share. This represents a $3.55 annualized dividend and a yield of 3.0%. The ex-dividend date is Wednesday, November 18th. Consolidated Edison’s dividend payout ratio (DPR) is currently 58.29%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ED. The Goldman Sachs Group reduced their price objective on Consolidated Edison from $106.00 to $102.00 in a research note on Thursday, October 15th. Bank of America dropped their target price on Consolidated Edison from $105.00 to $96.00 in a research report on Friday, October 2nd. Mizuho set a $108.00 price target on shares of Consolidated Edison in a report on Wednesday, October 7th. Barclays cut their price target on shares of Consolidated Edison from $112.00 to $106.00 and set an “underweight” rating on the stock in a report on Friday, August 7th. Finally, KeyCorp reduced their price target on shares of Consolidated Edison from $94.00 to $87.00 and set an “underweight” rating for the company in a research report on Tuesday, October 13th. Four investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and six have given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $108.09.

View Our Latest Research Report on Consolidated Edison

About Consolidated Edison

(Free Report)

Consolidated Edison, Inc is a diversified energy company headquartered in New York City. Through its regulated utility subsidiaries, the company delivers electricity, natural gas and steam to residential, commercial and industrial customers.

Its principal subsidiary, Consolidated Edison Company of New York, provides electric service throughout New York City and Westchester County, along with gas service in Manhattan, the Bronx, parts of Queens and Westchester County, and steam service in parts of Manhattan.

See Also

Institutional Ownership by Quarter for Consolidated Edison (NYSE:ED)

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