V Square Quantitative Management LLC Increases Position in Consolidated Edison, Inc. (NYSE:ED)

V Square Quantitative Management LLC boosted its position in Consolidated Edison, Inc. (NYSE:EDFree Report) by 9.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,465 shares of the utilities provider’s stock after acquiring an additional 1,397 shares during the quarter. V Square Quantitative Management LLC’s holdings in Consolidated Edison were worth $1,404,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in Consolidated Edison during the fourth quarter valued at approximately $243,511,000. Newport Trust Company LLC bought a new position in shares of Consolidated Edison during the 3rd quarter valued at $51,134,000. International Assets Investment Management LLC raised its position in Consolidated Edison by 9,063.6% in the 4th quarter. International Assets Investment Management LLC now owns 519,028 shares of the utilities provider’s stock worth $47,216,000 after purchasing an additional 513,364 shares during the period. J.P. Morgan Private Wealth Advisors LLC purchased a new position in Consolidated Edison in the 3rd quarter worth $39,556,000. Finally, Northern Trust Corp lifted its stake in Consolidated Edison by 8.2% in the third quarter. Northern Trust Corp now owns 4,484,026 shares of the utilities provider’s stock worth $383,519,000 after purchasing an additional 340,239 shares during the last quarter. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Down 0.2 %

Shares of NYSE ED traded down $0.17 during mid-day trading on Tuesday, hitting $96.34. 1,515,759 shares of the stock traded hands, compared to its average volume of 1,882,564. The company has a market cap of $33.32 billion, a price-to-earnings ratio of 18.49, a PEG ratio of 9.14 and a beta of 0.34. The stock has a fifty day moving average price of $92.26 and a 200-day moving average price of $90.90. Consolidated Edison, Inc. has a 52 week low of $80.46 and a 52 week high of $98.85. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.92 and a current ratio of 0.99.

Consolidated Edison (NYSE:EDGet Free Report) last announced its earnings results on Thursday, May 2nd. The utilities provider reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.26. The firm had revenue of $4.28 billion for the quarter, compared to analysts’ expectations of $4.40 billion. Consolidated Edison had a net margin of 12.43% and a return on equity of 8.79%. The company’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.83 EPS. Research analysts anticipate that Consolidated Edison, Inc. will post 5.31 EPS for the current year.

Consolidated Edison Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Wednesday, May 15th will be issued a dividend of $0.83 per share. The ex-dividend date is Tuesday, May 14th. This represents a $3.32 annualized dividend and a dividend yield of 3.45%. Consolidated Edison’s payout ratio is 63.72%.

Wall Street Analysts Forecast Growth

ED has been the topic of several analyst reports. Barclays lifted their price objective on Consolidated Edison from $89.00 to $97.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 7th. UBS Group lowered their price objective on Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating for the company in a research report on Friday, February 16th. Wells Fargo & Company increased their price objective on Consolidated Edison from $93.00 to $97.00 and gave the company an “equal weight” rating in a research note on Friday, May 3rd. Royal Bank of Canada decreased their target price on shares of Consolidated Edison from $94.00 to $93.00 and set a “sector perform” rating on the stock in a research note on Friday, February 16th. Finally, Scotiabank dropped their price target on shares of Consolidated Edison from $91.00 to $85.00 and set a “sector underperform” rating for the company in a research report on Monday, April 22nd. Four equities research 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’s stock. Based on data from MarketBeat, Consolidated Edison has a consensus rating of “Hold” and an average price target of $88.46.

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Consolidated Edison Profile

(Free Report)

Consolidated Edison, Inc, through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States. It offers electric services to approximately 3.7 million customers in New York City and Westchester County; gas to approximately 1.1 million customers in Manhattan, the Bronx, parts of Queens, and Westchester County; and steam to approximately 1,530 customers in parts of Manhattan.

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

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