Mn Services Vermogensbeheer B.V. raised its position in Consolidated Edison Inc (NYSE:ED) by 508.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 49,416 shares of the utilities provider’s stock after buying an additional 41,289 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Consolidated Edison were worth $3,994,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in ED. Ameriprise Financial Inc. boosted its position in shares of Consolidated Edison by 3.8% in the first quarter. Ameriprise Financial Inc. now owns 215,980 shares of the utilities provider’s stock valued at $16,770,000 after buying an additional 8,002 shares during the last quarter. Teachers Advisors LLC boosted its position in shares of Consolidated Edison by 14.8% in the fourth quarter. Teachers Advisors LLC now owns 649,810 shares of the utilities provider’s stock valued at $47,878,000 after buying an additional 83,824 shares during the last quarter. Rockland Trust Co. boosted its position in shares of Consolidated Edison by 3.3% in the first quarter. Rockland Trust Co. now owns 55,856 shares of the utilities provider’s stock valued at $4,338,000 after buying an additional 1,799 shares during the last quarter. Dai Ichi Life Insurance Company Ltd boosted its position in shares of Consolidated Edison by 16.4% in the first quarter. Dai Ichi Life Insurance Company Ltd now owns 63,364 shares of the utilities provider’s stock valued at $4,921,000 after buying an additional 8,918 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Consolidated Edison by 2.6% in the first quarter. Dimensional Fund Advisors LP now owns 604,894 shares of the utilities provider’s stock valued at $46,977,000 after buying an additional 15,382 shares during the last quarter. Hedge funds and other institutional investors own 54.90% of the company’s stock.
Consolidated Edison Inc (ED) traded up 0.61% during midday trading on Friday, reaching $83.53. The company’s stock had a trading volume of 2,024,020 shares. The company’s 50-day moving average is $82.00 and its 200 day moving average is $79.57. Consolidated Edison Inc has a 12-month low of $68.76 and a 12-month high of $85.13. The firm has a market cap of $25.53 billion, a price-to-earnings ratio of 20.21 and a beta of 0.08.
Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by $0.03. Consolidated Edison had a return on equity of 8.59% and a net margin of 10.57%. The firm had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.79 billion. During the same quarter last year, the firm earned $0.60 earnings per share. Equities analysts forecast that Consolidated Edison Inc will post $4.09 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Wednesday, August 16th will be given a dividend of $0.69 per share. The ex-dividend date of this dividend is Monday, August 14th. This represents a $2.76 annualized dividend and a yield of 3.30%. Consolidated Edison’s payout ratio is currently 66.67%.
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ED has been the topic of several research analyst reports. Zacks Investment Research upgraded Consolidated Edison from a “hold” rating to a “buy” rating and set a $89.00 price objective on the stock in a research note on Thursday, May 18th. Deutsche Bank AG lowered Consolidated Edison from a “hold” rating to a “sell” rating and set a $74.00 price objective on the stock. in a research note on Monday, May 8th. BMO Capital Markets reiterated a “hold” rating and set a $80.00 price objective on shares of Consolidated Edison in a research note on Monday, May 15th. Barclays PLC reiterated an “equal weight” rating and set a $82.00 price objective (up from $76.00) on shares of Consolidated Edison in a research note on Sunday, April 23rd. Finally, Morgan Stanley boosted their price objective on Consolidated Edison from $77.00 to $78.00 and gave the company an “underweight” rating in a research note on Monday, May 8th. Five investment analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $76.96.
Consolidated Edison Company 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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