PNC Financial Services Group Inc. lifted its holdings in Consolidated Edison Inc (NYSE:ED) by 1.8% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 560,190 shares of the utilities provider’s stock after buying an additional 9,825 shares during the period. PNC Financial Services Group Inc. owned approximately 0.18% of Consolidated Edison worth $45,274,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in ED. Armbruster Capital Management Inc. boosted its stake in shares of Consolidated Edison by 127.3% in the 2nd quarter. Armbruster Capital Management Inc. now owns 1,250 shares of the utilities provider’s stock worth $101,000 after buying an additional 700 shares during the last quarter. Stuart Chaussee & Associates Inc. boosted its stake in shares of Consolidated Edison by 138.3% in the 1st quarter. Stuart Chaussee & Associates Inc. now owns 1,370 shares of the utilities provider’s stock worth $106,000 after buying an additional 795 shares during the last quarter. Oakworth Capital Inc. boosted its stake in shares of Consolidated Edison by 10.5% in the 2nd quarter. Oakworth Capital Inc. now owns 1,447 shares of the utilities provider’s stock worth $117,000 after buying an additional 137 shares during the last quarter. Enterprise Financial Services Corp boosted its stake in shares of Consolidated Edison by 6.0% in the 2nd quarter. Enterprise Financial Services Corp now owns 1,648 shares of the utilities provider’s stock worth $133,000 after buying an additional 93 shares during the last quarter. Finally, Cypress Capital Management LLC WY boosted its stake in shares of 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 worth $143,000 after buying an additional 1,475 shares during the last quarter. Hedge funds and other institutional investors own 55.06% of the company’s stock.

In other Consolidated Edison news, CEO Joseph P. Oates sold 1,908 shares of Consolidated Edison stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $83.87, for a total value of $160,023.96. Following the completion of the sale, the chief executive officer now owns 24,017 shares of the company’s stock, valued at approximately $2,014,305.79. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last ninety days, insiders acquired 471 shares of company stock valued at $39,202. 0.20% of the stock is currently owned by insiders.

ED has been the topic of a number of research analyst reports. Jefferies Group LLC restated a “hold” rating and issued a $83.50 target price on shares of Consolidated Edison in a research note on Thursday, August 31st. BidaskClub downgraded Consolidated Edison from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 24th. Zacks Investment Research upgraded Consolidated Edison from a “hold” rating to a “buy” rating and set a $92.00 target price on the stock in a research note on Friday, May 26th. Finally, Morgan Stanley boosted their target price on Consolidated Edison from $78.00 to $80.00 and gave the stock an “underweight” rating in a research note on Friday, September 8th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $77.88.

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Consolidated Edison Inc (NYSE:ED) traded down 0.19% during trading on Monday, reaching $84.28. The company had a trading volume of 54,696 shares. The firm has a market capitalization of $25.76 billion, a PE ratio of 20.39 and a beta of 0.09. The firm’s 50 day moving average price is $83.81 and its 200 day moving average price is $80.98. Consolidated Edison Inc has a 12-month low of $68.76 and a 12-month high of $86.15.

Consolidated Edison (NYSE:ED) last posted 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). Consolidated Edison had a return on equity of 8.59% and a net margin of 10.57%. The company had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.79 billion. During the same period last year, the firm posted $0.60 EPS. Equities research analysts forecast that Consolidated Edison Inc will post $4.09 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Wednesday, August 16th were given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date of this dividend was Monday, August 14th. Consolidated Edison’s dividend payout ratio (DPR) is presently 66.67%.

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).

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

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