Consolidated Edison Inc $ED Shares Sold by US Bancorp DE

US Bancorp DE trimmed its stake in shares of Consolidated Edison Inc (NYSE:ED) by 8.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 52,188 shares of the utilities provider’s stock after selling 4,969 shares during the quarter. US Bancorp DE’s holdings in Consolidated Edison were worth $5,246,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of ED. Golden State Wealth Management LLC boosted its stake in shares of Consolidated Edison by 13.6% in the 2nd quarter. Golden State Wealth Management LLC now owns 837 shares of the utilities provider’s stock valued at $84,000 after purchasing an additional 100 shares in the last quarter. Certuity LLC grew its holdings in shares of Consolidated Edison by 2.7% during the second quarter. Certuity LLC now owns 3,743 shares of the utilities provider’s stock worth $376,000 after purchasing an additional 100 shares during the last quarter. Stephens Inc. AR increased its stake in shares of Consolidated Edison by 0.8% in the third quarter. Stephens Inc. AR now owns 13,791 shares of the utilities provider’s stock valued at $1,386,000 after buying an additional 105 shares in the last quarter. Bridgewater Advisors Inc. raised its holdings in shares of Consolidated Edison by 1.7% in the third quarter. Bridgewater Advisors Inc. now owns 6,530 shares of the utilities provider’s stock valued at $618,000 after buying an additional 107 shares during the last quarter. Finally, HighPoint Advisor Group LLC lifted its position in shares of Consolidated Edison by 0.7% during the third quarter. HighPoint Advisor Group LLC now owns 14,811 shares of the utilities provider’s stock worth $1,489,000 after purchasing an additional 110 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Price Performance

ED opened at $112.15 on Tuesday. The company has a current ratio of 1.02, a quick ratio of 0.94 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $40.51 billion, a P/E ratio of 19.85, a PEG ratio of 3.01 and a beta of 0.38. The stock has a 50-day moving average price of $105.26 and a 200-day moving average price of $101.19. Consolidated Edison Inc has a 12-month low of $94.96 and a 12-month high of $115.25.

Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, February 19th. The utilities provider reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.03. Consolidated Edison had a return on equity of 8.50% and a net margin of 11.95%.The company had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.71 billion. During the same quarter in the previous year, the company posted $0.98 EPS. Consolidated Edison’s quarterly revenue was up 8.9% compared to the same quarter last year. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Equities analysts predict that Consolidated Edison Inc will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Wednesday, February 18th will be given a dividend of $0.8875 per share. The ex-dividend date is Wednesday, February 18th. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.85. This represents a $3.55 annualized dividend and a yield of 3.2%. Consolidated Edison’s dividend payout ratio (DPR) is currently 62.83%.

Insider Transactions at Consolidated Edison

In other Consolidated Edison news, Director John F. Killian sold 2,276 shares of Consolidated Edison stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $96.89, for a total value of $220,521.64. Following the transaction, the director directly owned 38,661 shares of the company’s stock, valued at $3,745,864.29. The trade was a 5.56% decrease in their position. The sale 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.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ED. KeyCorp dropped their price objective on Consolidated Edison from $90.00 to $86.00 and set an “underweight” rating for the company in a report on Friday, December 12th. TD Cowen upped their price objective on Consolidated Edison from $105.00 to $112.00 and gave the stock a “hold” rating in a research report on Tuesday, February 24th. Wells Fargo & Company decreased their price objective on Consolidated Edison from $99.00 to $95.00 and set an “equal weight” rating for the company in a report on Tuesday, January 20th. Bank of America reissued an “underperform” rating and issued a $104.00 target price on shares of Consolidated Edison in a research report on Wednesday, February 25th. Finally, Barclays upped their price target on Consolidated Edison from $100.00 to $110.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 24th. Three investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and five have given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $107.07.

About Consolidated Edison

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.