Bank of The Ozarks decreased its stake in shares of Consolidated Edison Inc (NYSE:ED) by 4.2% during the second quarter, Holdings Channel reports. The firm owned 3,000 shares of the utilities provider’s stock after selling 130 shares during the period. Bank of The Ozarks’ holdings in Consolidated Edison were worth $242,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Schwab Charles Investment Management Inc. raised its position in shares of Consolidated Edison by 5.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,042,131 shares of the utilities provider’s stock valued at $84,226,000 after buying an additional 49,442 shares during the period. Wetherby Asset Management Inc. raised its position in shares of Consolidated Edison by 9.0% in the second quarter. Wetherby Asset Management Inc. now owns 6,772 shares of the utilities provider’s stock valued at $547,000 after buying an additional 557 shares during the period. Summit Financial Group Inc. acquired a new position in shares of Consolidated Edison during the second quarter valued at about $474,000. Joel Isaacson & Co. LLC raised its position in shares of Consolidated Edison by 21.0% in the second quarter. Joel Isaacson & Co. LLC now owns 12,226 shares of the utilities provider’s stock valued at $988,000 after buying an additional 2,122 shares during the period. Finally, Rockland Trust Co. raised its position in shares of Consolidated Edison by 0.9% in the second quarter. Rockland Trust Co. now owns 56,365 shares of the utilities provider’s stock valued at $4,555,000 after buying an additional 509 shares during the period. Institutional investors and hedge funds own 55.61% of the company’s stock.
Consolidated Edison Inc (ED) opened at 83.64 on Friday. The company has a 50-day moving average of $82.05 and a 200-day moving average of $79.21. The company has a market cap of $25.57 billion, a P/E ratio of 20.24 and a beta of 0.08. Consolidated Edison Inc has a 52 week low of $68.76 and a 52 week high of $85.13.
Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.58 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.61 by $0.03. The company had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.79 billion. Consolidated Edison had a return on equity of 8.59% and a net margin of 10.57%. During the same period in the previous year, the business posted $0.60 EPS. On average, equities research analysts predict that Consolidated Edison Inc will post $4.09 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Wednesday, August 16th will be given a dividend of $0.69 per share. The ex-dividend date of this dividend is Monday, August 14th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.30%. Consolidated Edison’s payout ratio is currently 66.67%.
Several brokerages have issued reports on ED. Morgan Stanley boosted their target price on Consolidated Edison from $75.00 to $78.00 and gave the company an “underweight” rating in a research report on Thursday. Zacks Investment Research upgraded Consolidated Edison from a “sell” rating to a “hold” rating in a report on Monday. BidaskClub upgraded Consolidated Edison from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Finally, Jefferies Group LLC lowered Consolidated Edison from a “buy” rating to a “hold” rating and lowered their price target for the company from $88.00 to $83.50 in a report on Tuesday, June 13th. Five investment analysts have rated the stock with a sell rating and nine have given a hold rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $76.96.
In related news, Director Linda S. Sanford acquired 900 shares of the stock in a transaction that occurred on Wednesday, May 17th. The stock was purchased at an average price of $79.74 per share, with a total value of $71,766.00. Following the transaction, the director now owns 8,748 shares of the company’s stock, valued at approximately $697,565.52. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have purchased a total of 1,319 shares of company stock valued at $106,510 in the last ninety days. 0.20% of the stock is currently owned by corporate 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).
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).
What are top analysts saying about Consolidated Edison Inc? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Consolidated Edison Inc and related companies.