World Asset Management Inc lowered its stake in shares of Consolidated Edison Inc (NYSE:ED) by 11.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,076 shares of the company’s stock after selling 4,450 shares during the period. World Asset Management Inc’s holdings in Consolidated Edison were worth $2,717,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of ED. Vanguard Group Inc. raised its position in shares of Consolidated Edison by 4.6% in the second quarter. Vanguard Group Inc. now owns 20,038,432 shares of the company’s stock valued at $1,611,891,000 after buying an additional 890,023 shares during the last quarter. State Street Corp raised its position in shares of Consolidated Edison by 2.1% in the second quarter. State Street Corp now owns 19,133,842 shares of the company’s stock valued at $1,539,121,000 after buying an additional 393,128 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of Consolidated Edison by 3.2% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 8,634,801 shares of the company’s stock valued at $694,583,000 after buying an additional 270,901 shares during the last quarter. BlackRock Fund Advisors raised its position in shares of Consolidated Edison by 13.7% in the second quarter. BlackRock Fund Advisors now owns 8,383,631 shares of the company’s stock valued at $674,379,000 after buying an additional 1,012,706 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Consolidated Edison by 2.4% in the second quarter. Bank of New York Mellon Corp now owns 4,198,326 shares of the company’s stock valued at $337,714,000 after buying an additional 99,652 shares during the last quarter. 53.16% of the stock is currently owned by hedge funds and other institutional investors.

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

Consolidated Edison Inc (NYSE:ED) traded down 0.27% during midday trading on Friday, reaching $73.42. 742,765 shares of the company’s stock were exchanged. Consolidated Edison Inc has a 12 month low of $66.20 and a 12 month high of $81.88. The company has a 50 day moving average price of $72.31 and a 200 day moving average price of $75.04. The company has a market cap of $22.37 billion, a P/E ratio of 18.09 and a beta of -0.02.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 15th. Stockholders of record on Wednesday, November 16th were issued a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 3.64%. The ex-dividend date was Monday, November 14th. Consolidated Edison’s payout ratio is presently 66.34%.

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ED has been the topic of a number of recent analyst reports. Morgan Stanley set a $69.00 price target on shares of Consolidated Edison and gave the company a “sell” rating in a research report on Wednesday, September 21st. Vetr lowered shares of Consolidated Edison from a “buy” rating to a “hold” rating and set a $72.00 price target on the stock. in a research report on Tuesday, November 15th. Zacks Investment Research lowered shares of Consolidated Edison from a “hold” rating to a “sell” rating in a research report on Wednesday, September 21st. Deutsche Bank AG reissued a “hold” rating on shares of Consolidated Edison in a research report on Friday, November 4th. Finally, Barclays PLC dropped their price target on shares of Consolidated Edison from $80.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 21st. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $74.82.

In other news, insider Craig S. Ivey sold 3,974 shares of the stock in a transaction that occurred on Monday, December 12th. The stock was sold at an average price of $71.42, for a total value of $283,823.08. Following the completion of the sale, the insider now owns 35,306 shares of the company’s stock, valued at approximately $2,521,554.52. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.16% of the stock is owned by 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) and Con Edison Transmission, Inc It owns competitive energy businesses. The Company also owns Con Edison Transmission, Inc (Con Edison Transmission), which invests in electric and gas transmission projects through its subsidiaries, Consolidated Edison Transmission, LLC (CET Electric) and Con Edison Gas Midstream, LLC (CET Gas).

5 Day Chart for NYSE:ED

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