Sumitomo Mitsui Asset Management Company LTD lessened its stake in shares of Consolidated Edison Inc (NYSE:ED) by 3.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,323 shares of the utilities provider’s stock after selling 816 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Consolidated Edison were worth $1,881,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Janus Henderson Group PLC lifted its holdings in shares of Consolidated Edison by 6,358.2% in the 2nd quarter. Janus Henderson Group PLC now owns 2,300,677 shares of the utilities provider’s stock valued at $185,940,000 after acquiring an additional 2,265,053 shares during the last quarter. APG Asset Management N.V. lifted its holdings in shares of Consolidated Edison by 38.2% in the 3rd quarter. APG Asset Management N.V. now owns 4,055,555 shares of the utilities provider’s stock valued at $327,202,000 after acquiring an additional 1,121,200 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Consolidated Edison by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 21,821,324 shares of the utilities provider’s stock valued at $1,763,600,000 after acquiring an additional 516,860 shares during the last quarter. Balyasny Asset Management LLC lifted its holdings in shares of Consolidated Edison by 5,924.7% in the 2nd quarter. Balyasny Asset Management LLC now owns 523,427 shares of the utilities provider’s stock valued at $42,303,000 after acquiring an additional 514,739 shares during the last quarter. Finally, Bank of Nova Scotia lifted its holdings in shares of Consolidated Edison by 7,382.1% in the 1st quarter. Bank of Nova Scotia now owns 518,283 shares of the utilities provider’s stock valued at $40,249,000 after acquiring an additional 511,356 shares during the last quarter. 55.32% of the stock is owned by institutional investors and hedge funds.

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Shares of Consolidated Edison Inc (NYSE ED) opened at $87.04 on Friday. The stock has a market capitalization of $26.91 billion, a price-to-earnings ratio of 21.65, a PEG ratio of 7.09 and a beta of 0.10. The company has a current ratio of 0.76, a quick ratio of 0.68 and a debt-to-equity ratio of 1.01.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, November 2nd. The utilities provider reported $1.47 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.54 by ($0.07). Consolidated Edison had a return on equity of 8.52% and a net margin of 10.42%. The firm had revenue of $3.21 billion during the quarter, compared to analysts’ expectations of $3.14 billion. During the same period last year, the company earned $1.51 earnings per share. analysts anticipate that Consolidated Edison Inc will post 4.08 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 15th will be given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date of this dividend is Tuesday, November 14th. Consolidated Edison’s dividend payout ratio (DPR) is currently 69.00%.

A number of research analysts recently commented on the stock. Bank of America Corporation assumed coverage on shares of Consolidated Edison in a report on Tuesday, October 24th. They issued a “buy” rating and a $92.00 price target for the company. KeyCorp reaffirmed a “hold” rating on shares of Consolidated Edison in a report on Friday, October 20th. Zacks Investment Research downgraded shares of Consolidated Edison from a “buy” rating to a “hold” rating in a report on Tuesday, October 3rd. Evercore ISI downgraded shares of Consolidated Edison from an “in-line” rating to an “underperform” rating and set a $74.00 price target for the company. in a report on Tuesday, September 26th. Finally, Morgan Stanley increased their price target on shares of Consolidated Edison from $78.00 to $80.00 and gave the company an “underweight” rating in a report on Friday, September 8th. Five research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. Consolidated Edison currently has an average rating of “Hold” and an average price target of $78.96.

In related news, CEO Joseph P. Oates sold 1,908 shares of the stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $83.87, for a total value of $160,023.96. Following the sale, the chief executive officer now directly owns 24,017 shares of the company’s stock, valued at approximately $2,014,305.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders purchased a total of 79 shares of company stock worth $6,602 over the last three months. 0.20% of the stock is currently owned by corporate insiders.

About Consolidated Edison

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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