Arizona State Retirement System cut its position in shares of Consolidated Edison Inc (NYSE:ED) by 6.5% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 181,215 shares of the utilities provider’s stock after selling 12,500 shares during the period. Arizona State Retirement System’s holdings in Consolidated Edison were worth $14,646,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of ED. Welch & Forbes LLC raised its position in shares of Consolidated Edison by 0.3% in the first quarter. Welch & Forbes LLC now owns 3,263 shares of the utilities provider’s stock valued at $254,000 after buying an additional 9 shares during the last quarter. Court Place Advisors LLC raised its position in shares of Consolidated Edison by 0.4% in the first quarter. Court Place Advisors LLC now owns 4,014 shares of the utilities provider’s stock valued at $312,000 after buying an additional 14 shares during the last quarter. Sabal Trust CO raised its position in shares of Consolidated Edison by 0.6% in the second quarter. Sabal Trust CO now owns 2,715 shares of the utilities provider’s stock valued at $219,000 after buying an additional 15 shares during the last quarter. Financial Architects Inc raised its position in shares of Consolidated Edison by 0.6% in the second quarter. Financial Architects Inc now owns 3,378 shares of the utilities provider’s stock valued at $273,000 after buying an additional 19 shares during the last quarter. Finally, Cleararc Capital Inc. raised its position in shares of Consolidated Edison by 0.3% in the first quarter. Cleararc Capital Inc. now owns 7,446 shares of the utilities provider’s stock valued at $578,000 after buying an additional 21 shares during the last quarter. Institutional investors own 55.61% of the company’s stock.

Consolidated Edison Inc (NYSE ED) opened at 83.64 on Friday. The stock has a market cap of $25.57 billion, a price-to-earnings ratio of 20.24 and a beta of 0.08. The company’s 50 day moving average price is $82.05 and its 200-day moving average price is $79.21. Consolidated Edison Inc has a 12-month low of $68.76 and a 12-month high of $85.13.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.61 by $0.03. The business had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.79 billion. Consolidated Edison had a return on equity of 8.59% and a net margin of 10.57%. During the same quarter last year, the company earned $0.60 EPS. On average, analysts forecast that Consolidated Edison Inc will post $4.09 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Wednesday, August 16th will be paid 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 dividend payout ratio (DPR) is 66.67%.

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ED has been the topic of several research reports. Morgan Stanley raised their price objective on Consolidated Edison from $75.00 to $78.00 and gave the stock an “underweight” rating in a report on Thursday. UBS AG raised their price objective on Consolidated Edison from $72.00 to $75.00 and gave the stock a “sell” rating in a report on Monday, May 8th. BidaskClub lowered Consolidated Edison from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 24th. Zacks Investment Research raised Consolidated Edison from a “hold” rating to a “buy” rating and set a $89.00 price objective on the stock in a report on Thursday, May 18th. Finally, 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 report on Monday, May 8th. Five investment analysts have rated the stock with a sell rating and nine have assigned a hold rating to the stock. Consolidated Edison currently has a consensus rating of “Hold” and an average target price of $76.96.

In other news, Director Linda S. Sanford bought 900 shares of the firm’s stock in a transaction on Wednesday, May 17th. The stock was purchased at an average price of $79.74 per share, for a total transaction of $71,766.00. Following the transaction, the director now owns 8,748 shares in the company, valued at $697,565.52. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders have purchased 1,319 shares of company stock worth $106,510. 0.20% of the stock is owned by company insiders.

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

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