Swiss Life Asset Management Ltd Grows Position in Consolidated Edison Inc $ED

Swiss Life Asset Management Ltd boosted its position in Consolidated Edison Inc (NYSE:ED) by 8.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 106,986 shares of the utilities provider’s stock after purchasing an additional 7,885 shares during the period. Swiss Life Asset Management Ltd’s holdings in Consolidated Edison were worth $10,626,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Consolidated Edison by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 45,636,041 shares of the utilities provider’s stock worth $4,532,572,000 after acquiring an additional 461,108 shares in the last quarter. State Street Corp lifted its holdings in Consolidated Edison by 0.3% during the third quarter. State Street Corp now owns 24,050,572 shares of the utilities provider’s stock valued at $2,417,563,000 after purchasing an additional 63,346 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in Consolidated Edison by 121,543.9% during the third quarter. Lazard Asset Management LLC now owns 5,960,553 shares of the utilities provider’s stock valued at $599,155,000 after purchasing an additional 5,955,653 shares in the last quarter. Legal & General Group Plc lifted its holdings in Consolidated Edison by 1.2% during the third quarter. Legal & General Group Plc now owns 4,351,530 shares of the utilities provider’s stock valued at $437,416,000 after purchasing an additional 52,061 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in Consolidated Edison by 1.4% during the third quarter. Northern Trust Corp now owns 4,128,793 shares of the utilities provider’s stock valued at $415,026,000 after purchasing an additional 57,365 shares in the last quarter. 66.29% of the stock is owned by hedge funds and other institutional investors.

Consolidated Edison Stock Up 0.5%

NYSE ED opened at $106.76 on Wednesday. The stock’s 50 day moving average is $111.25 and its 200 day moving average is $105.33. The company has a current ratio of 1.19, a quick ratio of 1.09 and a debt-to-equity ratio of 1.00. Consolidated Edison Inc has a 12 month low of $94.96 and a 12 month high of $116.23. The stock has a market cap of $39.35 billion, a PE ratio of 17.97, a P/E/G ratio of 2.70 and a beta of 0.29.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, May 7th. The utilities provider reported $2.18 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 during the quarter, compared to analysts’ expectations of $5.22 billion. During the same period in the prior year, the firm posted $2.26 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Research analysts predict that Consolidated Edison Inc will post 6.09 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Wednesday, May 13th will be issued a $0.8875 dividend. The ex-dividend date of this dividend is Wednesday, May 13th. This represents a $3.55 dividend on an annualized basis and a yield of 3.3%. Consolidated Edison’s payout ratio is currently 59.76%.

Insider Buying and Selling

In related news, SVP Deneen L. Donnley sold 1,922 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $113.94, for a total value of $218,992.68. Following the transaction, the senior vice president directly owned 32,453 shares of the company’s stock, valued at approximately $3,697,694.82. The trade was a 5.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

ED has been the topic of several analyst reports. Scotiabank lifted their price target on shares of Consolidated Edison from $113.00 to $117.00 and gave the company a “sector perform” rating in a report on Friday, February 20th. Bank of America reaffirmed an “underperform” rating and set a $104.00 price target on shares of Consolidated Edison in a report on Wednesday, February 25th. KeyCorp lifted their price target on shares of Consolidated Edison from $96.00 to $97.00 and gave the company an “underweight” rating in a report on Tuesday, April 21st. Royal Bank Of Canada reissued a “sector perform” rating and set a $118.00 target price on shares of Consolidated Edison in a research note on Friday, January 23rd. Finally, Mizuho set a $118.00 price target on Consolidated Edison in a report on Monday, February 23rd. Three research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $109.46.

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.