Robeco Institutional Asset Management B.V. Reduces Stake in Consolidated Edison Inc $ED

Robeco Institutional Asset Management B.V. cut its holdings in shares of Consolidated Edison Inc (NYSE:ED) by 4.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,271,270 shares of the utilities provider’s stock after selling 56,373 shares during the quarter. Robeco Institutional Asset Management B.V. owned 0.35% of Consolidated Edison worth $127,788,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. D.A. Davidson & CO. boosted its position in Consolidated Edison by 6.7% in the 3rd quarter. D.A. Davidson & CO. now owns 18,889 shares of the utilities provider’s stock worth $1,899,000 after purchasing an additional 1,187 shares in the last quarter. CWA Asset Management Group LLC boosted its stake in shares of Consolidated Edison by 542.2% during the 3rd quarter. CWA Asset Management Group LLC now owns 35,477 shares of the utilities provider’s stock worth $3,566,000 after acquiring an additional 29,953 shares in the last quarter. Daymark Wealth Partners LLC grew its position in shares of Consolidated Edison by 30.9% during the 3rd quarter. Daymark Wealth Partners LLC now owns 5,194 shares of the utilities provider’s stock valued at $522,000 after acquiring an additional 1,226 shares during the period. Earned Wealth Advisors LLC acquired a new stake in shares of Consolidated Edison during the 3rd quarter valued at about $228,000. Finally, Asset Management One Co. Ltd. increased its position in shares of Consolidated Edison by 4.0% in the third quarter. Asset Management One Co. Ltd. now owns 201,438 shares of the utilities provider’s stock valued at $20,249,000 after buying an additional 7,775 shares in the last quarter. 66.29% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Consolidated Edison

In other news, Director John F. Killian sold 2,276 shares of the 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 completion of the transaction, the director directly owned 38,661 shares of the company’s stock, valued at approximately $3,745,864.29. This represents a 5.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on ED. New Street Research set a $106.00 price objective on Consolidated Edison in a report on Monday, October 6th. UBS Group reduced their target price on shares of Consolidated Edison from $112.00 to $104.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 17th. KeyCorp decreased their price target on Consolidated Edison from $90.00 to $86.00 and set an “underweight” rating on the stock in a research note on Friday, December 12th. Wells Fargo & Company raised shares of Consolidated Edison to a “hold” rating in a research note on Tuesday, October 28th. Finally, JPMorgan Chase & Co. decreased their target price on Consolidated Edison from $101.00 to $97.00 and set an “underweight” rating on the stock in a research note on Friday, December 12th. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $102.54.

Consolidated Edison Price Performance

Shares of NYSE ED opened at $99.37 on Wednesday. The stock has a fifty day moving average price of $98.75 and a 200 day moving average price of $99.75. Consolidated Edison Inc has a 1-year low of $87.28 and a 1-year high of $114.87. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.08 and a quick ratio of 0.97. The company has a market cap of $35.87 billion, a PE ratio of 17.37, a P/E/G ratio of 2.69 and a beta of 0.39.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, November 6th. The utilities provider reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.14. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.79%. The company had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.22 billion. During the same quarter in the prior year, the firm earned $1.68 EPS. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. Sell-side analysts forecast that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Wednesday, November 19th were issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend was Wednesday, November 19th. Consolidated Edison’s payout ratio is currently 59.44%.

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.