Consolidated Edison, Inc. (NYSE:ED) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC cut its holdings in Consolidated Edison, Inc. (NYSE:ED) by 4.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 150,208 shares of the utilities provider’s stock after selling 7,817 shares during the quarter. Intech Investment Management LLC’s holdings in Consolidated Edison were worth $15,641,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Hsbc Holdings PLC grew its holdings in Consolidated Edison by 0.8% during the 2nd quarter. Hsbc Holdings PLC now owns 1,502,523 shares of the utilities provider’s stock valued at $134,323,000 after buying an additional 11,785 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Consolidated Edison by 11.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,273,115 shares of the utilities provider’s stock valued at $113,845,000 after acquiring an additional 125,859 shares in the last quarter. Swiss National Bank boosted its stake in shares of Consolidated Edison by 0.3% during the third quarter. Swiss National Bank now owns 1,026,500 shares of the utilities provider’s stock valued at $106,889,000 after acquiring an additional 3,500 shares during the last quarter. Clean Energy Transition LLP increased its position in Consolidated Edison by 227.9% during the 2nd quarter. Clean Energy Transition LLP now owns 897,553 shares of the utilities provider’s stock worth $80,259,000 after purchasing an additional 623,787 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in Consolidated Edison by 5.5% during the 2nd quarter. AQR Capital Management LLC now owns 709,713 shares of the utilities provider’s stock worth $63,413,000 after purchasing an additional 36,991 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Stock Up 0.8 %

Shares of Consolidated Edison stock opened at $98.67 on Friday. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. The firm has a market cap of $34.18 billion, a price-to-earnings ratio of 18.58, a P/E/G ratio of 3.26 and a beta of 0.36. Consolidated Edison, Inc. has a 52-week low of $85.85 and a 52-week high of $107.75. The stock has a 50-day simple moving average of $102.14 and a 200-day simple moving average of $98.06.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.12. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. The firm had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4.02 billion. On average, equities research analysts expect that Consolidated Edison, Inc. will post 5.33 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Wednesday, November 13th will be given a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 3.36%. The ex-dividend date is Wednesday, November 13th. Consolidated Edison’s dividend payout ratio is currently 62.52%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Barclays decreased their price target on shares of Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating on the stock in a research note on Friday, November 8th. Bank of America lifted their target price on shares of Consolidated Edison from $97.00 to $109.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Citigroup upgraded Consolidated Edison from a “neutral” rating to a “buy” rating and boosted their price target for the company from $103.00 to $116.00 in a report on Tuesday, October 15th. Scotiabank raised their price objective on Consolidated Edison from $85.00 to $90.00 and gave the stock a “sector underperform” rating in a report on Tuesday, August 20th. Finally, Morgan Stanley upped their target price on Consolidated Edison from $82.00 to $87.00 and gave the company an “underweight” rating in a research note on Wednesday, September 25th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $98.35.

Consolidated Edison 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.