Consolidated Edison Inc $ED Shares Sold by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. trimmed its holdings in shares of Consolidated Edison Inc (NYSE:ED) by 4.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 497,860 shares of the utilities provider’s stock after selling 20,721 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Consolidated Edison were worth $49,447,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Basepoint Wealth LLC acquired a new position in shares of Consolidated Edison in the 4th quarter valued at $26,000. JPL Wealth Management LLC acquired a new position in shares of Consolidated Edison in the 3rd quarter valued at $26,000. Aventura Private Wealth LLC acquired a new position in shares of Consolidated Edison in the 4th quarter valued at $27,000. Westfuller Advisors LLC acquired a new position in shares of Consolidated Edison in the 4th quarter valued at $27,000. Finally, Dorato Capital Management acquired a new position in shares of Consolidated Edison in the 4th quarter valued at $28,000. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Price Performance

Consolidated Edison stock opened at $105.88 on Monday. Consolidated Edison Inc has a 52-week low of $94.96 and a 52-week high of $116.23. The firm has a market capitalization of $39.02 billion, a price-to-earnings ratio of 17.82, a PEG ratio of 2.68 and a beta of 0.27. The company has a fifty day simple moving average of $109.77 and a 200-day simple moving average of $106.15. The company has a quick ratio of 1.09, a current ratio of 1.19 and a debt-to-equity ratio of 1.00.

Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, May 7th. The utilities provider reported $2.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.28 by ($0.10). Consolidated Edison had a return on equity of 8.33% and a net margin of 12.52%.The business had revenue of $5.10 billion for the quarter, compared to analysts’ expectations of $5.22 billion. During the same period in the previous year, the company earned $2.26 EPS. 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 6.09 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Wednesday, May 13th will be issued a dividend of $0.8875 per share. The ex-dividend date of this dividend is Wednesday, May 13th. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.4%. Consolidated Edison’s dividend payout ratio is presently 59.76%.

Insider Activity

In related news, SVP Deneen L. Donnley sold 1,922 shares of the company’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $113.94, for a total value of $218,992.68. Following the completion of the sale, the senior vice president owned 32,453 shares of the company’s stock, valued at approximately $3,697,694.82. This represents a 5.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Citigroup reiterated a “buy” rating on shares of Consolidated Edison in a research note on Monday, February 23rd. Bank of America reissued an “underperform” rating and issued a $104.00 price target on shares of Consolidated Edison in a report on Wednesday, February 25th. Wells Fargo & Company set a $98.00 price target on shares of Consolidated Edison in a report on Tuesday, April 21st. Scotiabank boosted their price target on shares of Consolidated Edison from $113.00 to $117.00 and gave the stock a “sector perform” rating in a report on Friday, February 20th. Finally, KeyCorp boosted their price target on shares of Consolidated Edison from $96.00 to $97.00 and gave the stock an “underweight” rating in a report on Tuesday, April 21st. Three analysts have rated the stock with a Buy rating, six have issued a Hold rating and six have given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $108.71.

About Consolidated Edison

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.