United Services Automobile Association decreased its position in Consolidated Edison, Inc. (NYSE:ED) by 16.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 198,725 shares of the utilities provider’s stock after selling 38,159 shares during the quarter. United Services Automobile Association owned approximately 0.06% of Consolidated Edison worth $15,141,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Standard Life Aberdeen plc grew its stake in shares of Consolidated Edison by 5.0% in the third quarter. Standard Life Aberdeen plc now owns 209,895 shares of the utilities provider’s stock worth $15,992,000 after acquiring an additional 9,956 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Consolidated Edison by 1.1% in the third quarter. Franklin Resources Inc. now owns 1,337,039 shares of the utilities provider’s stock worth $101,870,000 after acquiring an additional 14,455 shares during the last quarter. Blair William & Co. IL grew its stake in shares of Consolidated Edison by 8.8% in the third quarter. Blair William & Co. IL now owns 25,020 shares of the utilities provider’s stock worth $1,906,000 after acquiring an additional 2,025 shares during the last quarter. Baird Financial Group Inc. grew its stake in shares of Consolidated Edison by 3.7% in the third quarter. Baird Financial Group Inc. now owns 20,915 shares of the utilities provider’s stock worth $1,585,000 after acquiring an additional 754 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. grew its stake in shares of Consolidated Edison by 2.9% in the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 49,063 shares of the utilities provider’s stock worth $3,738,000 after acquiring an additional 1,380 shares during the last quarter. Institutional investors and hedge funds own 58.03% of the company’s stock.

ED stock opened at $81.49 on Friday. Consolidated Edison, Inc. has a fifty-two week low of $71.12 and a fifty-two week high of $89.70. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.56 and a current ratio of 0.62. The stock has a market capitalization of $25.54 billion, a price-to-earnings ratio of 19.92, a PEG ratio of 4.78 and a beta of 0.04.

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

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

A number of equities research analysts have recently commented on the company. ValuEngine raised Consolidated Edison from a “hold” rating to a “buy” rating in a research note on Wednesday. Wells Fargo & Co increased their price objective on Consolidated Edison from $81.00 to $83.00 and gave the company a “market perform” rating in a research report on Monday, September 17th. Citigroup increased their price objective on Consolidated Edison from $79.00 to $80.00 and gave the company a “neutral” rating in a research report on Tuesday, October 16th. Bank of America dropped their price objective on Consolidated Edison from $87.00 to $83.00 and set a “buy” rating on the stock in a research report on Friday, November 2nd. Finally, Barclays increased their price objective on Consolidated Edison from $79.00 to $83.00 and gave the company a “hold” rating in a research report on Monday, November 19th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $77.36.

ILLEGAL ACTIVITY NOTICE: This news story was posted by Watch List News and is the sole property of of Watch List News. If you are reading this news story on another publication, it was illegally copied and reposted in violation of U.S. and international copyright and trademark law. The legal version of this news story can be read at https://www.watchlistnews.com/united-services-automobile-association-decreases-holdings-in-consolidated-edison-inc-ed/2668431.html.

Consolidated Edison Profile

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.

Recommended Story: NASDAQ

Want to see what other hedge funds are holding ED? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Consolidated Edison, Inc. (NYSE:ED).

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

Receive News & Ratings for Consolidated Edison Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Consolidated Edison and related companies with MarketBeat.com's FREE daily email newsletter.