Fulcrum Asset Management LLP Acquires 6,119 Shares of Consolidated Edison Inc $ED

Fulcrum Asset Management LLP boosted its holdings in shares of Consolidated Edison Inc (NYSE:ED) by 21.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,971 shares of the utilities provider’s stock after purchasing an additional 6,119 shares during the period. Consolidated Edison comprises approximately 1.0% of Fulcrum Asset Management LLP’s holdings, making the stock its 27th largest holding. Fulcrum Asset Management LLP’s holdings in Consolidated Edison were worth $3,515,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. JPL Wealth Management LLC bought a new stake in shares of Consolidated Edison in the 3rd quarter worth approximately $26,000. Salomon & Ludwin LLC raised its holdings in shares of Consolidated Edison by 270.4% during 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 in the last quarter. Turning Point Benefit Group Inc. bought a new position in shares of Consolidated Edison during the third quarter valued at approximately $32,000. Palisade Asset Management LLC purchased a new stake in Consolidated Edison in the third quarter worth $37,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Consolidated Edison in the third quarter worth $38,000. Institutional investors own 66.29% of the company’s stock.

Insider Buying and Selling

In related news, SVP Deneen L. Donnley sold 1,922 shares of the business’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $113.94, for a total transaction of $218,992.68. Following the sale, the senior vice president owned 32,453 shares of the company’s stock, valued at $3,697,694.82. The trade was a 5.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.19% of the stock is owned by insiders.

Analysts Set New Price Targets

ED has been the topic of several recent analyst reports. Bank of America reiterated an “underperform” rating and issued a $104.00 price target on shares of Consolidated Edison in a report on Wednesday, February 25th. Barclays raised their target price on shares of Consolidated Edison from $100.00 to $110.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 24th. Wells Fargo & Company cut their target price on shares of Consolidated Edison from $99.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 20th. KeyCorp boosted their price target on shares of Consolidated Edison from $86.00 to $96.00 and gave the company an “underweight” rating in a research report on Wednesday, March 4th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Consolidated Edison in a research note on Monday, December 29th. Three equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $108.80.

Consolidated Edison Price Performance

Shares of ED stock opened at $113.50 on Thursday. The business’s fifty day moving average is $108.50 and its 200 day moving average is $102.24. The company has a quick ratio of 0.94, a current ratio of 1.02 and a debt-to-equity ratio of 1.06. The stock has a market cap of $41.00 billion, a price-to-earnings ratio of 20.09, a PEG ratio of 2.93 and a beta of 0.38. Consolidated Edison Inc has a twelve month low of $94.96 and a twelve month high of $116.23.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, February 19th. The utilities provider reported $0.89 EPS for the quarter, beating the consensus estimate of $0.86 by $0.03. Consolidated Edison had a return on equity of 8.50% and a net margin of 11.95%.The business had revenue of $4 billion during the quarter, compared to analyst estimates of $3.71 billion. During the same quarter last year, the firm posted $0.98 earnings per share. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Research analysts expect that Consolidated Edison Inc will post 5.62 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Wednesday, February 18th were given a dividend of $0.8875 per share. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend was Wednesday, February 18th. This represents a $3.55 dividend on an annualized basis and a yield of 3.1%. Consolidated Edison’s dividend payout ratio is 62.83%.

Consolidated Edison 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.