Consolidated Edison Inc $ED Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH lowered its position in Consolidated Edison Inc (NYSE:ED) by 4.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 743,268 shares of the utilities provider’s stock after selling 35,259 shares during the period. Allianz Asset Management GmbH owned about 0.21% of Consolidated Edison worth $74,713,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new position in Consolidated Edison during the second quarter worth approximately $462,218,000. Vanguard Group Inc. raised its stake in shares of Consolidated Edison by 4.5% during the 2nd quarter. Vanguard Group Inc. now owns 45,040,811 shares of the utilities provider’s stock worth $4,519,845,000 after buying an additional 1,923,717 shares during the period. Qube Research & Technologies Ltd lifted its position in shares of Consolidated Edison by 2,190.9% during the 2nd quarter. Qube Research & Technologies Ltd now owns 978,160 shares of the utilities provider’s stock valued at $98,158,000 after buying an additional 935,463 shares in the last quarter. Rakuten Investment Management Inc. acquired a new stake in Consolidated Edison in the 3rd quarter valued at $60,497,000. Finally, Geode Capital Management LLC grew its stake in Consolidated Edison by 6.1% in the 2nd quarter. Geode Capital Management LLC now owns 9,796,782 shares of the utilities provider’s stock valued at $979,204,000 after acquiring an additional 566,358 shares during the period. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Stock Performance

Consolidated Edison stock opened at $107.46 on Wednesday. The firm has a 50 day simple moving average of $100.37 and a 200-day simple moving average of $100.20. The stock has a market cap of $38.79 billion, a price-to-earnings ratio of 18.79, a price-to-earnings-growth ratio of 2.87 and a beta of 0.38. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.08 and a quick ratio of 0.97. Consolidated Edison Inc has a 1-year low of $93.52 and a 1-year high of $114.87.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, November 6th. The utilities provider reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.14. Consolidated Edison had a return on equity of 8.79% and a net margin of 12.27%.The company had revenue of $4.53 billion during the quarter, compared to analysts’ expectations of $4.22 billion. During the same quarter last year, the firm earned $1.68 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. On average, analysts expect that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Wednesday, February 18th will be issued a $0.8875 dividend. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.85. The ex-dividend date is Wednesday, February 18th. This represents a $3.55 annualized dividend and a yield of 3.3%. Consolidated Edison’s payout ratio is 59.44%.

Wall Street Analyst Weigh In

Several research firms have issued reports on ED. Evercore ISI assumed coverage on shares of Consolidated Edison in a report on Tuesday, October 7th. They set an “in-line” rating and a $106.00 price objective on the stock. Barclays reduced their price target on shares of Consolidated Edison from $101.00 to $100.00 and set an “underweight” rating for the company in a research report on Thursday, January 22nd. TD Cowen began coverage on Consolidated Edison in a report on Friday, January 9th. They issued a “hold” rating and a $105.00 price objective on the stock. JPMorgan Chase & Co. cut their price objective on Consolidated Edison from $101.00 to $97.00 and set an “underweight” rating for the company in a research note on Friday, December 12th. Finally, Morgan Stanley restated an “underweight” rating and issued a $96.00 target price on shares of Consolidated Edison in a research report on Wednesday, January 21st. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $104.20.

Insider Transactions at Consolidated Edison

In other Consolidated Edison news, Director John F. Killian sold 2,276 shares of the company’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $96.89, for a total transaction of $220,521.64. Following the transaction, the director directly owned 38,661 shares in the company, valued at $3,745,864.29. This represents a 5.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.17% of the stock is currently owned by insiders.

Consolidated Edison Company Profile

Consolidated Edison, Inc, commonly known as Con Edison, is an investor-owned energy company that primarily delivers electricity, natural gas and steam to customers in the New York metropolitan area. Its regulated utility operations include the distribution and transmission of electric power, the distribution of natural gas, and the operation of one of the largest district steam systems in the United States, serving commercial, institutional and residential customers in New York City and nearby counties.

The company operates through regulated utility subsidiaries that serve urban and suburban service territories, together with non-utility businesses that develop, own and manage energy infrastructure and clean energy projects.