Savant Capital LLC reduced its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 0.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,983 shares of the utilities provider’s stock after selling 52 shares during the period. Savant Capital LLC’s holdings in Consolidated Edison were worth $484,000 as of its most recent filing with the SEC.
Several other hedge funds also recently added to or reduced their stakes in ED. Armbruster Capital Management Inc. raised its stake in Consolidated Edison by 127.3% in the second quarter. Armbruster Capital Management Inc. now owns 1,250 shares of the utilities provider’s stock valued at $101,000 after buying an additional 700 shares in the last quarter. Stuart Chaussee & Associates Inc. raised 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 valued at $106,000 after buying an additional 795 shares in the last quarter. Oakworth Capital Inc. raised its stake in Consolidated Edison by 10.5% in the second quarter. Oakworth Capital Inc. now owns 1,447 shares of the utilities provider’s stock valued at $117,000 after buying an additional 137 shares in the last quarter. Tompkins Financial Corp bought a new stake in Consolidated Edison during the first quarter valued at $118,000. Finally, Enterprise Financial Services Corp raised 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 valued at $121,000 after buying an additional 38 shares in the last quarter. Institutional investors own 54.90% of the company’s stock.
Consolidated Edison, Inc. (ED) opened at 82.87 on Monday. Consolidated Edison, Inc. has a 12-month low of $68.76 and a 12-month high of $85.13. The firm’s 50-day moving average is $82.01 and its 200-day moving average is $79.28. The stock has a market capitalization of $25.33 billion, a P/E ratio of 20.05 and a beta of 0.08.
Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by $0.03. The firm had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.79 billion. Consolidated Edison had a return on equity of 4.84% and a net margin of 6.65%. During the same quarter last year, the company posted $0.60 EPS. Analysts predict that Consolidated Edison, Inc. will post $4.09 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Wednesday, August 16th will be issued a $0.69 dividend. The ex-dividend date is Monday, August 14th. This represents a $2.76 dividend on an annualized basis and a yield of 3.33%. Consolidated Edison’s dividend payout ratio (DPR) is 66.67%.
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ED has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of Consolidated Edison from a “hold” rating to a “buy” rating and set a $92.00 price objective for the company in a research note on Friday, May 26th. BidaskClub lowered shares of Consolidated Edison from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 24th. Barclays PLC restated an “equal weight” rating and set a $82.00 price target (up previously from $76.00) on shares of Consolidated Edison in a research note on Sunday, April 23rd. BMO Capital Markets restated a “hold” rating and set a $80.00 price target on shares of Consolidated Edison in a research note on Monday, May 15th. Finally, Jefferies Group LLC lowered shares of Consolidated Edison from a “buy” rating to a “hold” rating and decreased their price target for the company from $88.00 to $83.50 in a research note on Tuesday, June 13th. Five equities research analysts have rated the stock with a sell rating and nine have issued a hold rating to the company’s stock. Consolidated Edison has an average rating of “Hold” and a consensus price target of $76.96.
In other news, Director Linda S. Sanford acquired 900 shares of the firm’s stock in a transaction on Wednesday, May 17th. The stock was acquired at an average price of $79.74 per share, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders acquired 1,292 shares of company stock valued at $104,366. 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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