WEALTHFRONT Corp reduced its position in Consolidated Edison, Inc. (NYSE:ED) by 29.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,317 shares of the utilities provider’s stock after selling 10,261 shares during the quarter. WEALTHFRONT Corp’s holdings in Consolidated Edison were worth $1,853,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in ED. BlackRock Inc. increased its holdings in Consolidated Edison by 7.0% in the second quarter. BlackRock Inc. now owns 27,689,373 shares of the utilities provider’s stock valued at $2,159,218,000 after buying an additional 1,815,861 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Consolidated Edison by 22.8% in the third quarter. Bank of New York Mellon Corp now owns 3,581,782 shares of the utilities provider’s stock valued at $272,896,000 after buying an additional 664,252 shares during the last quarter. FMR LLC increased its holdings in Consolidated Edison by 248.6% in the second quarter. FMR LLC now owns 580,731 shares of the utilities provider’s stock valued at $45,286,000 after buying an additional 414,146 shares during the last quarter. Bank of Nova Scotia increased its holdings in Consolidated Edison by 384.9% in the second quarter. Bank of Nova Scotia now owns 371,373 shares of the utilities provider’s stock valued at $28,959,000 after buying an additional 294,781 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in Consolidated Edison by 7.6% in the third quarter. Renaissance Technologies LLC now owns 3,051,400 shares of the utilities provider’s stock valued at $232,486,000 after buying an additional 215,200 shares during the last quarter. 58.03% of the stock is owned by hedge funds and other institutional investors.

Several analysts recently weighed in on the company. Zacks Investment Research lowered Consolidated Edison from a “hold” rating to a “sell” rating in a report on Thursday, October 4th. Morgan Stanley boosted their price objective on Consolidated Edison from $77.00 to $81.00 and gave the company a “sell” rating in a report on Tuesday, September 11th. ValuEngine raised Consolidated Edison from a “hold” rating to a “buy” rating in a report on Wednesday. Citigroup boosted their price objective on Consolidated Edison from $79.00 to $80.00 and gave the company a “neutral” rating in a report on Tuesday, October 16th. Finally, UBS Group boosted their price objective on Consolidated Edison from $83.00 to $84.00 and gave the company a “neutral” rating in a report on Friday, September 21st. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $77.36.

NYSE:ED opened at $81.41 on Thursday. The company has a market cap of $25.54 billion, a PE ratio of 19.90, a P/E/G ratio of 4.78 and a beta of 0.04. Consolidated Edison, Inc. has a 52 week low of $71.12 and a 52 week high of $89.70. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.62 and a quick ratio of 0.56.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, November 1st. The utilities provider reported $1.57 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.46 by $0.11. The company had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.17 billion. Consolidated Edison had a return on equity of 8.64% and a net margin of 12.60%. During the same period in the prior year, the company earned $1.47 earnings per share. Equities research analysts anticipate that Consolidated Edison, Inc. will post 4.29 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Wednesday, November 14th will be issued a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a dividend yield of 3.51%. The ex-dividend date of this dividend is Tuesday, November 13th. Consolidated Edison’s dividend payout ratio (DPR) is presently 69.93%.

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About Consolidated Edison

Consolidated Edison, Inc, through its subsidiaries, engages in regulated electric, gas, and steam delivery businesses in the United States. The company offers electric services to approximately 3.4 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 1,600 customers in parts of Manhattan.

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

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