Global Financial Private Capital LLC Sells 115,081 Shares of Consolidated Edison, Inc. (ED)

Global Financial Private Capital LLC reduced its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 91.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 11,353 shares of the utilities provider’s stock after selling 115,081 shares during the period. Global Financial Private Capital LLC’s holdings in Consolidated Edison were worth $964,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ED. APG Asset Management N.V. increased its position in shares of Consolidated Edison by 28.4% in the 4th quarter. APG Asset Management N.V. now owns 5,209,155 shares of the utilities provider’s stock valued at $368,519,000 after purchasing an additional 1,153,600 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of Consolidated Edison by 25.3% in the 3rd quarter. Janus Henderson Group PLC now owns 2,883,134 shares of the utilities provider’s stock valued at $232,610,000 after purchasing an additional 582,457 shares during the last quarter. Vaughan David Investments Inc. IL increased its position in shares of Consolidated Edison by 202.9% in the 3rd quarter. Vaughan David Investments Inc. IL now owns 416,247 shares of the utilities provider’s stock valued at $20,833,000 after purchasing an additional 278,822 shares during the last quarter. Teacher Retirement System of Texas increased its position in shares of Consolidated Edison by 1,929.5% in the 4th quarter. Teacher Retirement System of Texas now owns 237,872 shares of the utilities provider’s stock valued at $20,207,000 after purchasing an additional 226,151 shares during the last quarter. Finally, California Public Employees Retirement System increased its position in shares of Consolidated Edison by 25.0% in the 4th quarter. California Public Employees Retirement System now owns 999,045 shares of the utilities provider’s stock valued at $84,869,000 after purchasing an additional 199,981 shares during the last quarter. 56.14% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts have commented on the stock. Zacks Investment Research downgraded shares of Consolidated Edison from a “buy” rating to a “hold” rating in a research report on Friday, January 19th. UBS Group assumed coverage on shares of Consolidated Edison in a research report on Friday, February 2nd. They issued a “neutral” rating and a $80.00 price objective on the stock. Bank of America assumed coverage on shares of Consolidated Edison in a research report on Tuesday, October 24th. They issued a “buy” rating and a $92.00 price objective on the stock. ValuEngine raised shares of Consolidated Edison from a “hold” rating to a “buy” rating in a research report on Friday, November 10th. Finally, Morgan Stanley dropped their price objective on shares of Consolidated Edison from $80.00 to $74.00 and set an “underweight” rating on the stock in a research report on Tuesday, February 13th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $81.32.

Consolidated Edison, Inc. (ED) opened at $77.77 on Friday. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.79 and a quick ratio of 0.70. The company has a market cap of $24,139.57, a price-to-earnings ratio of 18.88, a P/E/G ratio of 9.11 and a beta of 0.03. Consolidated Edison, Inc. has a 52-week low of $72.63 and a 52-week high of $89.70.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, February 15th. The utilities provider reported $0.80 EPS for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.02. The firm had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $2.64 billion. Consolidated Edison had a net margin of 12.67% and a return on equity of 8.61%. The company’s revenue was up 9.4% on a year-over-year basis. During the same period last year, the firm posted $0.69 EPS. research analysts predict that Consolidated Edison, Inc. will post 4.27 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Wednesday, February 14th will be given a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a dividend yield of 3.68%. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.69. The ex-dividend date of this dividend is Tuesday, February 13th. Consolidated Edison’s dividend payout ratio (DPR) is 57.89%.

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About Consolidated Edison

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

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