The Manufacturers Life Insurance Company Sells 45,754 Shares of Consolidated Edison, Inc. (ED)

The Manufacturers Life Insurance Company cut its holdings in Consolidated Edison, Inc. (NYSE:ED) by 12.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 321,735 shares of the utilities provider’s stock after selling 45,754 shares during the period. The Manufacturers Life Insurance Company owned about 0.10% of Consolidated Edison worth $27,331,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. APG Asset Management N.V. raised its holdings in shares of Consolidated Edison by 28.4% in the fourth quarter. APG Asset Management N.V. now owns 5,209,155 shares of the utilities provider’s stock valued at $368,519,000 after purchasing an additional 1,153,600 shares during the last quarter. Legal & General Group Plc increased its holdings in Consolidated Edison by 5.2% during the third quarter. Legal & General Group Plc now owns 2,930,589 shares of the utilities provider’s stock worth $236,432,000 after buying an additional 144,652 shares during the last quarter. Janus Henderson Group PLC increased its holdings in Consolidated Edison by 25.3% during the third quarter. Janus Henderson Group PLC now owns 2,883,134 shares of the utilities provider’s stock worth $232,610,000 after buying an additional 582,457 shares during the last quarter. Swiss National Bank increased its holdings in Consolidated Edison by 2.7% during the fourth quarter. Swiss National Bank now owns 2,193,271 shares of the utilities provider’s stock worth $186,318,000 after buying an additional 58,200 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its holdings in Consolidated Edison by 10.0% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,366,282 shares of the utilities provider’s stock worth $116,065,000 after buying an additional 124,544 shares during the last quarter. Institutional investors own 56.79% of the company’s stock.

Consolidated Edison, Inc. (NYSE:ED) opened at $75.79 on Friday. The company has a current ratio of 0.72, a quick ratio of 0.65 and a debt-to-equity ratio of 0.96. Consolidated Edison, Inc. has a 52-week low of $74.57 and a 52-week high of $89.70. The company has a market cap of $23,500.00, a price-to-earnings ratio of 3.45, a price-to-earnings-growth ratio of 8.83 and a beta of 0.03.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, February 15th. The utilities provider reported $0.80 EPS for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.02. Consolidated Edison had a net margin of 12.67% and a return on equity of 8.51%. The firm had revenue of $2.96 billion during the quarter, compared to analysts’ expectations of $2.64 billion. During the same period in the previous year, the business posted $0.69 earnings per share. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. equities analysts predict that Consolidated Edison, Inc. will post 4.27 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Wednesday, February 14th will be given a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a yield of 3.77%. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.69. The ex-dividend date is Tuesday, February 13th. Consolidated Edison’s payout ratio is 13.03%.

A number of brokerages recently weighed in on ED. Morgan Stanley lowered their target price on shares of Consolidated Edison from $80.00 to $74.00 and set an “underweight” rating on the stock in a report on Tuesday, February 13th. UBS Group began coverage on shares of Consolidated Edison in a report on Friday, February 2nd. They set a “neutral” rating and a $80.00 target price on the stock. Zacks Investment Research downgraded shares of Consolidated Edison from a “buy” rating to a “hold” rating in a report on Friday, January 19th. JPMorgan Chase & Co. began coverage on shares of Consolidated Edison in a report on Friday, January 12th. They set an “underweight” rating and a $78.00 target price on the stock. Finally, Guggenheim restated a “hold” rating and set a $88.00 target price on shares of Consolidated Edison in a report on Wednesday, January 3rd. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. Consolidated Edison presently has a consensus rating of “Hold” and a consensus price target of $81.32.

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About Consolidated Edison

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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