Vest Financial LLC Has $54.01 Million Position in Consolidated Edison Inc $ED

Vest Financial LLC grew its position in shares of Consolidated Edison Inc (NYSE:ED) by 13.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 537,306 shares of the utilities provider’s stock after purchasing an additional 62,583 shares during the quarter. Vest Financial LLC owned about 0.15% of Consolidated Edison worth $54,010,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Salomon & Ludwin LLC boosted its holdings in shares of Consolidated Edison by 270.4% in the 3rd quarter. Salomon & Ludwin LLC now owns 300 shares of the utilities provider’s stock worth $30,000 after buying an additional 219 shares during the last quarter. Capital Advisors Ltd. LLC raised its holdings in shares of Consolidated Edison by 53.2% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 314 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 109 shares during the period. Bogart Wealth LLC grew its holdings in Consolidated Edison by 886.5% during the second quarter. Bogart Wealth LLC now owns 365 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 328 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Consolidated Edison in the third quarter worth $38,000. Finally, SJS Investment Consulting Inc. raised its stake in shares of Consolidated Edison by 1,677.3% in the second quarter. SJS Investment Consulting Inc. now owns 391 shares of the utilities provider’s stock valued at $39,000 after buying an additional 369 shares during the period. Institutional investors and hedge funds own 66.29% of the company’s stock.

Insiders Place Their Bets

In related news, Director John F. Killian sold 2,276 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $96.89, for a total transaction of $220,521.64. Following the transaction, the director directly owned 38,661 shares in the company, valued at $3,745,864.29. This trade represents a 5.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.17% of the stock is owned by corporate insiders.

Consolidated Edison Trading Up 0.8%

Shares of ED opened at $104.63 on Wednesday. Consolidated Edison Inc has a fifty-two week low of $90.35 and a fifty-two week high of $114.87. The firm has a market cap of $37.77 billion, a price-to-earnings ratio of 18.37, a PEG ratio of 2.83 and a beta of 0.39. The firm has a 50 day moving average price of $99.50 and a 200-day moving average price of $99.87. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.97 and a current ratio of 1.08.

Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, November 6th. The utilities provider reported $1.90 EPS for the quarter, beating the consensus estimate of $1.76 by $0.14. The company had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.22 billion. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.79%. During the same quarter last year, the firm earned $1.68 EPS. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. As a group, equities research analysts forecast that Consolidated Edison Inc will post 5.62 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. KeyCorp cut their target price on Consolidated Edison from $90.00 to $86.00 and set an “underweight” rating for the company in a research note on Friday, December 12th. Barclays lowered their price target on shares of Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating on the stock in a report on Monday, November 10th. Wells Fargo & Company reduced their price objective on shares of Consolidated Edison from $99.00 to $95.00 and set an “equal weight” rating for the company in a research note on Tuesday. TD Cowen began coverage on shares of Consolidated Edison in a research note on Friday, January 9th. They issued a “hold” rating and a $105.00 target price on the stock. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Consolidated Edison in a research report on Monday, December 29th. Three analysts have rated the stock with a Buy rating, eight have issued a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $103.27.

Consolidated Edison Company Profile

Consolidated Edison, Inc, commonly known as Con Edison, is an investor-owned energy company that primarily delivers electricity, natural gas and steam to customers in the New York metropolitan area. Its regulated utility operations include the distribution and transmission of electric power, the distribution of natural gas, and the operation of one of the largest district steam systems in the United States, serving commercial, institutional and residential customers in New York City and nearby counties.

The company operates through regulated utility subsidiaries that serve urban and suburban service territories, together with non-utility businesses that develop, own and manage energy infrastructure and clean energy projects.