Asset Dedication LLC held its position in shares of Consolidated Edison Inc (NYSE:ED) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,300 shares of the utilities provider’s stock at the end of the second quarter. Asset Dedication LLC’s holdings in Consolidated Edison were worth $105,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the company. Stuart Chaussee & Associates Inc. increased its stake in Consolidated Edison by 138.3% in the first quarter. Stuart Chaussee & Associates Inc. now owns 1,370 shares of the utilities provider’s stock worth $106,000 after buying an additional 795 shares in the last quarter. Tompkins Financial Corp purchased a new stake in Consolidated Edison during the first quarter worth about $118,000. Enterprise Financial Services Corp increased its stake in Consolidated Edison by 2.5% in the first quarter. Enterprise Financial Services Corp now owns 1,555 shares of the utilities provider’s stock worth $121,000 after buying an additional 38 shares in the last quarter. Atwood & Palmer Inc. increased its stake in Consolidated Edison by 195.8% in the first quarter. Atwood & Palmer Inc. now owns 1,813 shares of the utilities provider’s stock worth $141,000 after buying an additional 1,200 shares in the last quarter. Finally, First Financial Corp IN increased its stake in Consolidated Edison by 24.0% in the first quarter. First Financial Corp IN now owns 2,068 shares of the utilities provider’s stock worth $161,000 after buying an additional 400 shares in the last quarter. 55.88% of the stock is owned by institutional investors and hedge funds.
Consolidated Edison Inc (ED) traded up 0.47% on Monday, reaching $81.11. The company had a trading volume of 885,507 shares. The stock has a market capitalization of $24.77 billion, a P/E ratio of 18.68 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. The stock’s 50 day moving average is $82.41 and its 200-day moving average is $77.50.
Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, May 4th. The utilities provider reported $1.27 EPS for the quarter, topping the consensus estimate of $1.19 by $0.08. The firm had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.05 billion. Consolidated Edison had a return on equity of 9.05% and a net margin of 10.90%. During the same period last year, the company earned $1.18 earnings per share. On average, equities analysts predict that Consolidated Edison Inc will post $4.09 EPS for the current fiscal year.
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A number of equities research analysts have issued reports on the company. BidaskClub downgraded Consolidated Edison from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Zacks Investment Research downgraded Consolidated Edison from a “hold” rating to a “sell” rating in a research note on Wednesday, July 5th. Jefferies Group LLC downgraded Consolidated Edison from a “buy” rating to a “hold” rating and cut their price target for the company from $88.00 to $83.50 in a research note on Tuesday, June 13th. Finally, UBS AG boosted their price target on Consolidated Edison from $72.00 to $75.00 and gave the company a “sell” rating in a research note on Monday, May 15th. Seven investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $76.82.
In other Consolidated Edison news, Director Linda S. Sanford acquired 900 shares of the company’s stock in a transaction on Wednesday, May 17th. The shares were bought at an average cost of $79.74 per share, with a total value of $71,766.00. Following the completion of the acquisition, the director now owns 8,748 shares in the company, valued at $697,565.52. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders acquired 1,240 shares of company stock worth $100,090. 0.20% of the stock is 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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