Daiwa Securities Group Inc. reduced its position in shares of Consolidated Edison Inc (NYSE:ED) by 41.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 13,250 shares of the utilities provider’s stock after selling 9,250 shares during the period. Daiwa Securities Group Inc.’s holdings in Consolidated Edison were worth $1,071,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Welch & Forbes LLC boosted its position in Consolidated Edison by 0.3% in the first quarter. Welch & Forbes LLC now owns 3,263 shares of the utilities provider’s stock worth $254,000 after buying an additional 9 shares during the last quarter. Court Place Advisors LLC boosted its position in Consolidated Edison by 0.4% in the first quarter. Court Place Advisors LLC now owns 4,014 shares of the utilities provider’s stock worth $312,000 after buying an additional 14 shares during the last quarter. Sabal Trust CO boosted its position in Consolidated Edison by 0.6% in the second quarter. Sabal Trust CO now owns 2,715 shares of the utilities provider’s stock worth $219,000 after buying an additional 15 shares during the last quarter. Financial Architects Inc boosted its position in Consolidated Edison by 0.6% in the second quarter. Financial Architects Inc now owns 3,378 shares of the utilities provider’s stock worth $273,000 after buying an additional 19 shares during the last quarter. Finally, Cleararc Capital Inc. boosted its position in Consolidated Edison by 0.3% in the first quarter. Cleararc Capital Inc. now owns 7,446 shares of the utilities provider’s stock worth $578,000 after buying an additional 21 shares during the last quarter. 55.61% of the stock is owned by institutional investors.

Shares of Consolidated Edison Inc (ED) opened at 83.64 on Friday. The stock’s 50 day moving average is $82.05 and its 200-day moving average is $79.21. The stock has a market cap of $25.57 billion, a PE ratio of 20.24 and a beta of 0.08. Consolidated Edison Inc has a 1-year low of $68.76 and a 1-year high of $85.13.

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

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Wednesday, August 16th will be issued 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 currently 66.67%.

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A number of research firms have weighed in on ED. UBS Group AG lifted their price objective on shares of Consolidated Edison from $72.00 to $75.00 and gave the company a “sell” rating in a report on Monday, May 8th. Zacks Investment Research cut shares of Consolidated Edison from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. Morgan Stanley lifted their price objective on shares of Consolidated Edison from $75.00 to $78.00 and gave the company an “underweight” rating in a report on Thursday. BidaskClub cut shares of Consolidated Edison from a “buy” rating to a “hold” rating in a report on Saturday, July 1st. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $80.00 price objective on shares of Consolidated Edison in a report on Monday, May 15th. Five research analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $76.96.

In other Consolidated Edison news, Director Linda S. Sanford bought 900 shares of the company’s stock in a transaction on Wednesday, May 17th. The stock was purchased at an average cost of $79.74 per share, for a total transaction of $71,766.00. Following the acquisition, the director now owns 8,748 shares of the company’s stock, valued at approximately $697,565.52. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have acquired a total of 1,319 shares of company stock valued at $106,510 over the last 90 days. 0.20% of the stock is currently owned by 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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