Xact Kapitalforvaltning AB Raises Position in Consolidated Edison Inc (ED)

Xact Kapitalforvaltning AB boosted its holdings in Consolidated Edison Inc (NYSE:ED) by 3.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,262 shares of the utilities provider’s stock after buying an additional 902 shares during the quarter. Xact Kapitalforvaltning AB’s holdings in Consolidated Edison were worth $2,038,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of ED. Armbruster Capital Management Inc. raised its holdings in Consolidated Edison by 127.3% in the 2nd 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 during the last quarter. WFG Advisors LP raised its holdings in Consolidated Edison by 19.6% in the 2nd quarter. WFG Advisors LP now owns 1,308 shares of the utilities provider’s stock valued at $106,000 after buying an additional 214 shares during the last quarter. Oakworth Capital Inc. raised its holdings in Consolidated Edison by 10.5% in the 2nd 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 during the last quarter. Enterprise Financial Services Corp raised its holdings in Consolidated Edison by 6.0% in the 2nd quarter. Enterprise Financial Services Corp now owns 1,648 shares of the utilities provider’s stock valued at $133,000 after buying an additional 93 shares during the last quarter. Finally, Cypress Capital Management LLC WY raised its holdings in Consolidated Edison by 491.7% in the 2nd quarter. Cypress Capital Management LLC WY now owns 1,775 shares of the utilities provider’s stock valued at $143,000 after buying an additional 1,475 shares during the last quarter. Institutional investors and hedge funds own 55.06% of the company’s stock.

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Shares of Consolidated Edison Inc (NYSE:ED) opened at 85.92 on Friday. Consolidated Edison Inc has a 12 month low of $68.76 and a 12 month high of $86.33. The stock’s 50 day moving average is $83.23 and its 200 day moving average is $82.19. The firm has a market cap of $26.26 billion, a P/E ratio of 20.79 and a beta of 0.09.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, August 3rd. The utilities provider reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.03). The business had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.79 billion. Consolidated Edison had a net margin of 10.57% and a return on equity of 8.59%. During the same quarter in the prior year, the company earned $0.60 EPS. Equities research analysts expect that Consolidated Edison Inc will post $4.08 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 15th will be issued a dividend of $0.69 per share. The ex-dividend date is Tuesday, November 14th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.21%. Consolidated Edison’s dividend payout ratio is presently 66.67%.

A number of research analysts recently issued reports on ED shares. Morgan Stanley raised their price objective on shares of Consolidated Edison from $78.00 to $80.00 and gave the company an “underweight” rating in a report on Friday, September 8th. Zacks Investment Research lowered shares of Consolidated Edison from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. Jefferies Group LLC reiterated a “hold” rating and issued a $83.50 price objective on shares of Consolidated Edison in a report on Thursday, August 31st. Finally, BidaskClub lowered shares of Consolidated Edison from a “buy” rating to a “hold” rating in a report on Saturday, July 1st. Five analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $78.96.

In related news, CEO Joseph P. Oates sold 1,908 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $83.87, for a total transaction of $160,023.96. Following the completion of the transaction, the chief executive officer now owns 24,017 shares in the company, valued at $2,014,305.79. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In the last 90 days, insiders have purchased 158 shares of company stock valued at $13,022. 0.20% of the stock is owned by corporate insiders.

Consolidated Edison 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).

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

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