Union Bankshares Corp cut its position in shares of Consolidated Edison Inc (NYSE:ED) by 7.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,500 shares of the utilities provider’s stock after selling 300 shares during the period. Union Bankshares Corp’s holdings in Consolidated Edison were worth $283,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in ED. Ameriprise Financial Inc. boosted its stake in shares of Consolidated Edison by 3.8% in the first quarter. Ameriprise Financial Inc. now owns 215,980 shares of the utilities provider’s stock worth $16,770,000 after buying an additional 8,002 shares during the period. Teachers Advisors LLC boosted its stake in shares of Consolidated Edison by 14.8% in the fourth quarter. Teachers Advisors LLC now owns 649,810 shares of the utilities provider’s stock worth $47,878,000 after buying an additional 83,824 shares during the period. Rockland Trust Co. boosted its stake in shares of Consolidated Edison by 3.3% in the first quarter. Rockland Trust Co. now owns 55,856 shares of the utilities provider’s stock worth $4,338,000 after buying an additional 1,799 shares during the period. Dai Ichi Life Insurance Company Ltd boosted its stake in shares of Consolidated Edison by 16.4% in the first quarter. Dai Ichi Life Insurance Company Ltd now owns 63,364 shares of the utilities provider’s stock worth $4,921,000 after buying an additional 8,918 shares during the period. Finally, Washington Trust Bank boosted its stake in shares of Consolidated Edison by 272.4% in the first quarter. Washington Trust Bank now owns 3,352 shares of the utilities provider’s stock worth $260,000 after buying an additional 2,452 shares during the period. 55.88% of the stock is owned by institutional investors.

Shares of Consolidated Edison Inc (NYSE ED) opened at 81.75 on Thursday. The stock’s 50 day moving average is $82.46 and its 200 day moving average is $78.26. The company has a market cap of $24.96 billion, a PE ratio of 18.83 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 announced its earnings results on Thursday, May 4th. The utilities provider reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.08. Consolidated Edison had a return on equity of 9.05% and a net margin of 10.90%. The firm had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.05 billion. During the same quarter last year, the firm posted $1.18 EPS. Equities analysts forecast that Consolidated Edison Inc will post $4.09 EPS for the current year.

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A number of equities research analysts have recently issued reports on ED shares. Zacks Investment Research raised shares of Consolidated Edison from a “hold” rating to a “buy” rating and set a $89.00 price objective for the company in a research note on Friday, May 12th. BMO Capital Markets reiterated a “hold” rating and issued a $80.00 price target on shares of Consolidated Edison in a research note on Friday, May 5th. Barclays PLC reiterated an “equal weight” rating and issued a $82.00 price target (up from $76.00) on shares of Consolidated Edison in a research note on Sunday, April 23rd. Deutsche Bank AG increased their price target on shares of Consolidated Edison from $72.00 to $74.00 and gave the stock a “hold” rating in a research note on Tuesday, April 11th. Finally, Jefferies Group LLC lowered shares of Consolidated Edison from a “buy” rating to a “hold” rating and decreased their price target for the stock from $88.00 to $83.50 in a research note on Tuesday, June 13th. Seven equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $76.82.

In other Consolidated Edison news, Director Linda S. Sanford bought 900 shares of the firm’s stock in a transaction dated Wednesday, May 17th. The shares were purchased at an average price of $79.74 per share, for a total transaction of $71,766.00. Following the transaction, the director now directly owns 8,748 shares of the company’s stock, valued at approximately $697,565.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have bought a total of 1,240 shares of company stock worth $100,090 in the last quarter. Insiders own 0.20% of the company’s stock.

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).

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

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