Consolidated Edison, Inc. (NYSE:ED) Shares Sold by Fox Run Management L.L.C.

Fox Run Management L.L.C. lessened its holdings in Consolidated Edison, Inc. (NYSE:ED) by 46.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,693 shares of the utilities provider’s stock after selling 6,635 shares during the quarter. Fox Run Management L.L.C.’s holdings in Consolidated Edison were worth $686,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. United Bank purchased a new stake in Consolidated Edison during the 3rd quarter worth approximately $227,000. Empowered Funds LLC grew its holdings in shares of Consolidated Edison by 7.6% during the third quarter. Empowered Funds LLC now owns 5,785 shares of the utilities provider’s stock valued at $602,000 after buying an additional 409 shares during the last quarter. Thrivent Financial for Lutherans increased its position in shares of Consolidated Edison by 11.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 35,104 shares of the utilities provider’s stock valued at $3,655,000 after acquiring an additional 3,716 shares during the period. Raymond James Trust N.A. raised its stake in Consolidated Edison by 3.9% in the 3rd quarter. Raymond James Trust N.A. now owns 7,571 shares of the utilities provider’s stock worth $788,000 after acquiring an additional 287 shares during the last quarter. Finally, Cerity Partners LLC lifted its position in Consolidated Edison by 17.5% during the 3rd quarter. Cerity Partners LLC now owns 77,323 shares of the utilities provider’s stock worth $8,052,000 after acquiring an additional 11,528 shares during the period. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Consolidated Edison Price Performance

NYSE:ED opened at $106.87 on Tuesday. The stock has a market capitalization of $37.06 billion, a PE ratio of 20.40, a price-to-earnings-growth ratio of 3.05 and a beta of 0.30. Consolidated Edison, Inc. has a 52 week low of $87.16 and a 52 week high of $109.36. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. The stock’s 50-day moving average price is $98.28 and its 200-day moving average price is $98.38.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, February 20th. The utilities provider reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.01. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. The business had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.63 billion. As a group, equities analysts expect that Consolidated Edison, Inc. will post 5.62 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th were issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 3.18%. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend was Wednesday, February 19th. Consolidated Edison’s dividend payout ratio (DPR) is presently 64.89%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ED shares. Barclays raised their price objective on Consolidated Edison from $92.00 to $95.00 and gave the stock an “underweight” rating in a research note on Monday, February 24th. Morgan Stanley raised their price target on shares of Consolidated Edison from $85.00 to $91.00 and gave the stock an “underweight” rating in a research report on Thursday, March 20th. Scotiabank upped their price objective on shares of Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a report on Monday, February 24th. Mizuho raised their target price on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Finally, Evercore ISI downgraded shares of Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $102.40.

Consolidated Edison Company Profile

Consolidated Edison, Inc, through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States. It offers electric services to approximately 3.7 million customers in New York City and Westchester County; gas to approximately 1.1 million customers in Manhattan, the Bronx, parts of Queens, and Westchester County; and steam to approximately 1,530 customers in parts of Manhattan.