Schroder Investment Management Group Sells 29,561 Shares of Consolidated Edison Inc $ED

Schroder Investment Management Group lessened its stake in shares of Consolidated Edison Inc (NYSE:ED) by 5.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 482,032 shares of the utilities provider’s stock after selling 29,561 shares during the quarter. Schroder Investment Management Group’s holdings in Consolidated Edison were worth $47,996,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Salomon & Ludwin LLC grew its stake in Consolidated Edison by 270.4% in the third quarter. Salomon & Ludwin LLC now owns 300 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 219 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Consolidated Edison during the third quarter worth approximately $38,000. JFS Wealth Advisors LLC lifted its holdings in shares of Consolidated Edison by 36.4% in the 3rd quarter. JFS Wealth Advisors LLC now owns 412 shares of the utilities provider’s stock worth $41,000 after purchasing an additional 110 shares in the last quarter. True Wealth Design LLC grew its position in Consolidated Edison by 392.1% in the 3rd quarter. True Wealth Design LLC now owns 497 shares of the utilities provider’s stock valued at $50,000 after purchasing an additional 396 shares during the period. Finally, Webster Bank N. A. increased its stake in Consolidated Edison by 67.8% during the 3rd quarter. Webster Bank N. A. now owns 495 shares of the utilities provider’s stock valued at $50,000 after purchasing an additional 200 shares in the last quarter. 66.29% of the stock is owned by institutional investors.

Insider Activity at Consolidated Edison

In other news, Director John F. Killian sold 2,276 shares of Consolidated Edison stock in a transaction 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 sale, the director directly owned 38,661 shares in the company, valued at $3,745,864.29. The trade was a 5.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.17% of the stock is owned by insiders.

Consolidated Edison Price Performance

Shares of NYSE ED opened at $111.30 on Wednesday. Consolidated Edison Inc has a twelve month low of $94.96 and a twelve month high of $115.25. The stock’s 50 day moving average price is $106.76 and its 200-day moving average price is $101.64. The company has a market capitalization of $40.21 billion, a PE ratio of 19.70, a PEG ratio of 3.00 and a beta of 0.38. The company has a quick ratio of 0.94, a current ratio of 1.02 and a debt-to-equity ratio of 1.06.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, February 19th. The utilities provider reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.03. The company had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.71 billion. Consolidated Edison had a return on equity of 8.50% and a net margin of 11.95%.Consolidated Edison’s revenue was up 8.9% on a year-over-year basis. During the same period last year, the business posted $0.98 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, equities analysts anticipate that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Wednesday, February 18th will be given a dividend of $0.8875 per share. The ex-dividend date of this dividend is Wednesday, February 18th. This represents a $3.55 annualized dividend and a dividend yield of 3.2%. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.85. Consolidated Edison’s payout ratio is 62.83%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ED. TD Cowen lifted their price objective on shares of Consolidated Edison from $105.00 to $112.00 and gave the company a “hold” rating in a report on Tuesday, February 24th. UBS Group raised their price target on shares of Consolidated Edison from $108.00 to $112.00 and gave the company a “neutral” rating in a research report on Friday, January 23rd. JPMorgan Chase & Co. cut their price target on Consolidated Edison from $101.00 to $97.00 and set an “underweight” rating for the company in a research note on Friday, December 12th. Morgan Stanley reissued an “underweight” rating and set a $102.00 price objective on shares of Consolidated Edison in a report on Friday, February 20th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $118.00 price objective on shares of Consolidated Edison in a research note on Friday, January 23rd. Three investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $107.73.

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.