Achmea Investment Management B.V. lessened its holdings in Consolidated Edison Inc (NYSE:ED) by 17.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 61,891 shares of the utilities provider’s stock after selling 12,688 shares during the period. Achmea Investment Management B.V.’s holdings in Consolidated Edison were worth $4,999,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of ED. Armbruster Capital Management Inc. grew its holdings in Consolidated Edison by 127.3% during the 2nd quarter. Armbruster Capital Management Inc. now owns 1,250 shares of the utilities provider’s stock valued at $101,000 after purchasing an additional 700 shares in the last quarter. WFG Advisors LP grew its holdings in Consolidated Edison by 19.6% during the 2nd quarter. WFG Advisors LP now owns 1,308 shares of the utilities provider’s stock valued at $106,000 after purchasing an additional 214 shares in the last quarter. Oakworth Capital Inc. grew its holdings in Consolidated Edison by 10.5% during the 2nd quarter. Oakworth Capital Inc. now owns 1,447 shares of the utilities provider’s stock valued at $117,000 after purchasing an additional 137 shares in the last quarter. Enterprise Financial Services Corp grew its holdings in Consolidated Edison by 6.0% during the 2nd quarter. Enterprise Financial Services Corp now owns 1,648 shares of the utilities provider’s stock valued at $133,000 after purchasing an additional 93 shares in the last quarter. Finally, Cypress Capital Management LLC WY grew its holdings in Consolidated Edison by 491.7% during the 2nd quarter. Cypress Capital Management LLC WY now owns 1,775 shares of the utilities provider’s stock valued at $143,000 after purchasing an additional 1,475 shares in the last quarter. 55.06% of the stock is currently owned by institutional investors and hedge funds.
Consolidated Edison Inc (ED) traded up 0.49% on Friday, hitting $85.92. 1,125,196 shares of the stock were exchanged. The stock has a market cap of $26.26 billion, a PE ratio of 20.79 and a beta of 0.09. Consolidated Edison Inc has a 1-year low of $68.76 and a 1-year high of $86.33. The company’s 50 day moving average is $83.15 and its 200 day moving average is $82.17.
Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.58 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.03). Consolidated Edison had a net margin of 10.57% and a return on equity of 8.59%. The company had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.79 billion. During the same period in the previous year, the company posted $0.60 EPS. On average, equities research analysts expect that Consolidated Edison Inc will post $4.08 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th will be issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 3.21%. The ex-dividend date of this dividend is Tuesday, November 14th. Consolidated Edison’s dividend payout ratio is 66.67%.
A number of research firms recently weighed in on ED. Zacks Investment Research lowered shares of Consolidated Edison from a “buy” rating to a “hold” rating in a report on Tuesday, September 12th. Bank of America Corporation began coverage on shares of Consolidated Edison in a report on Tuesday. They set a “buy” rating and a $92.00 price target for the company. KeyCorp reaffirmed a “hold” rating on shares of Consolidated Edison in a report on Friday, October 20th. Morgan Stanley raised their price objective on shares of Consolidated Edison from $78.00 to $80.00 and gave the stock an “underweight” rating in a report on Friday, September 8th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $83.50 price objective on shares of Consolidated Edison in a report on Thursday, August 31st. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. Consolidated Edison presently has a consensus rating of “Hold” and a consensus price target of $78.96.
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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 transaction of $160,023.96. Following the completion of the sale, the chief executive officer now owns 24,017 shares of the company’s stock, valued at approximately $2,014,305.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have acquired a total of 158 shares of company stock valued at $13,022 in the last ninety days. Insiders own 0.20% of the company’s stock.
Consolidated Edison 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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