Intech Investment Management LLC Lowers Holdings in Consolidated Edison Inc $ED

Intech Investment Management LLC trimmed its stake in Consolidated Edison Inc (NYSE:ED) by 9.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 172,225 shares of the utilities provider’s stock after selling 18,531 shares during the quarter. Intech Investment Management LLC’s holdings in Consolidated Edison were worth $17,105,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. CFS Investment Advisory Services LLC lifted its stake in shares of Consolidated Edison by 8.8% in the fourth quarter. CFS Investment Advisory Services LLC now owns 3,572 shares of the utilities provider’s stock worth $355,000 after buying an additional 288 shares in the last quarter. Foundations Investment Advisors LLC lifted its position in Consolidated Edison by 114.9% in the 4th quarter. Foundations Investment Advisors LLC now owns 14,206 shares of the utilities provider’s stock valued at $1,411,000 after acquiring an additional 7,594 shares in the last quarter. Godfrey Financial Associates Inc. purchased a new stake in Consolidated Edison during the 4th quarter valued at $32,000. Fidelis Capital Partners LLC boosted its position in shares of Consolidated Edison by 1.3% during the fourth quarter. Fidelis Capital Partners LLC now owns 9,317 shares of the utilities provider’s stock valued at $925,000 after buying an additional 118 shares during the last quarter. Finally, M3 Wealth Management LLC purchased a new position in shares of Consolidated Edison during the fourth quarter valued at approximately $1,380,000. 66.29% of the stock is currently owned by institutional investors.

Insider Activity at Consolidated Edison

In related news, SVP Deneen L. Donnley sold 1,922 shares of Consolidated Edison stock in a transaction dated Thursday, March 12th. The stock was 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 directly owned 32,453 shares in the company, 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 through the SEC website. Company insiders own 0.15% of the company’s stock.

Consolidated Edison Trading Down 1.6%

ED stock opened at $106.31 on Friday. Consolidated Edison Inc has a twelve month low of $94.96 and a twelve month high of $116.23. The stock has a market capitalization of $39.18 billion, a price-to-earnings ratio of 17.90, a price-to-earnings-growth ratio of 2.74 and a beta of 0.29. The company has a quick ratio of 1.09, a current ratio of 1.19 and a debt-to-equity ratio of 1.00. The firm’s fifty day simple moving average is $109.92 and its two-hundred day simple moving average is $106.10.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, May 7th. The utilities provider reported $2.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.28 by ($0.10). Consolidated Edison had a net margin of 12.52% and a return on equity of 8.33%. The business had revenue of $5.10 billion for the quarter, compared to analysts’ expectations of $5.22 billion. During the same quarter last year, the firm earned $2.26 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. As a group, analysts anticipate that Consolidated Edison Inc will post 6.09 earnings per share for the current year.

Consolidated Edison Announces Dividend

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

Analyst Ratings Changes

A number of research firms have weighed in on ED. Weiss Ratings raised Consolidated Edison from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, April 24th. JPMorgan Chase & Co. lifted their price target on shares of Consolidated Edison from $107.00 to $113.00 and gave the stock an “underweight” rating in a research note on Thursday, March 12th. The Goldman Sachs Group restated a “sell” rating and issued a $105.00 price target on shares of Consolidated Edison in a research report on Thursday, May 14th. KeyCorp lifted their price objective on Consolidated Edison from $96.00 to $97.00 and gave the company an “underweight” rating in a research report on Tuesday, April 21st. Finally, Citigroup reiterated a “buy” rating on shares of Consolidated Edison in a research report on Monday, February 23rd. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and six have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price 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.