Zurcher Kantonalbank Zurich Cantonalbank Sells 3,338 Shares of Consolidated Edison Inc (ED)
Zurcher Kantonalbank Zurich Cantonalbank lowered its stake in Consolidated Edison Inc (NYSE:ED) by 1.4% during the second quarter, according to its most recent filing with the SEC. The fund owned 231,980 shares of the utilities provider’s stock after selling 3,338 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned 0.08% of Consolidated Edison worth $18,749,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Candriam Luxembourg S.C.A. boosted its position in shares of Consolidated Edison by 24.9% in the first quarter. Candriam Luxembourg S.C.A. now owns 23,316 shares of the utilities provider’s stock worth $1,811,000 after buying an additional 4,650 shares during the period. First Manhattan Co. boosted its position in shares of Consolidated Edison by 11.6% in the first quarter. First Manhattan Co. now owns 7,137 shares of the utilities provider’s stock worth $537,000 after buying an additional 742 shares during the period. Clear Harbor Asset Management LLC boosted its position in shares of Consolidated Edison by 1.8% in the first quarter. Clear Harbor Asset Management LLC now owns 15,970 shares of the utilities provider’s stock worth $1,240,000 after buying an additional 278 shares during the period. Shell Asset Management Co. boosted its position in shares of Consolidated Edison by 9.3% in the first quarter. Shell Asset Management Co. now owns 150,488 shares of the utilities provider’s stock worth $11,687,000 after buying an additional 12,781 shares during the period. Finally, Strs Ohio boosted its position in shares of Consolidated Edison by 8.0% in the first quarter. Strs Ohio now owns 40,623 shares of the utilities provider’s stock worth $3,154,000 after buying an additional 3,023 shares during the period. 55.07% of the stock is currently owned by institutional investors.
Consolidated Edison Inc (ED) opened at 84.59 on Tuesday. The firm has a market cap of $25.86 billion, a price-to-earnings ratio of 20.47 and a beta of 0.08. The stock’s 50 day moving average is $82.53 and its 200-day moving average is $80.00. Consolidated Edison Inc has a one year low of $68.76 and a one 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 for the quarter, missing the consensus estimate of $0.61 by $0.03. Consolidated Edison had a return on equity of 8.59% and a net margin of 10.57%. The business had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.79 billion. During the same quarter in the prior year, the firm posted $0.60 EPS. On average, equities research analysts expect that Consolidated Edison Inc will post $4.09 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Wednesday, August 16th will be given a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 3.26%. The ex-dividend date of this dividend is Monday, August 14th. Consolidated Edison’s dividend payout ratio is presently 66.67%.
A number of research analysts recently issued reports on ED shares. BMO Capital Markets reissued a “hold” rating and issued a $80.00 price objective on shares of Consolidated Edison in a research note on Friday, May 5th. Zacks Investment Research raised shares of Consolidated Edison from a “hold” rating to a “buy” rating and set a $89.00 price objective on the stock in a research note on Friday, May 12th. Jefferies Group LLC cut shares of Consolidated Edison from a “buy” rating to a “hold” rating and decreased their price objective for the company from $88.00 to $83.50 in a research note on Tuesday, June 13th. BidaskClub cut shares of Consolidated Edison from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 24th. Finally, 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 research note on Thursday, August 10th. Five investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. Consolidated Edison presently has a consensus rating of “Hold” and an average target price of $76.96.
In related news, CEO Joseph P. Oates sold 1,908 shares of the business’s stock in a transaction on 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 owns 24,017 shares in the company, valued at $2,014,305.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders purchased 392 shares of company stock worth $32,600 in the last 90 days. 0.20% of the stock is currently owned by company 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).
Receive News & Ratings for Consolidated Edison Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Consolidated Edison Inc and related companies with Analyst Ratings Network's FREE daily email newsletter.