Consolidated Edison, Inc. (NYSE:ED) Shares Sold by Boston Trust Walden Corp

Boston Trust Walden Corp trimmed its holdings in Consolidated Edison, Inc. (NYSE:ED) by 9.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 12,098 shares of the utilities provider’s stock after selling 1,300 shares during the period. Boston Trust Walden Corp’s holdings in Consolidated Edison were worth $1,080,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in ED. S.A. Mason LLC raised its holdings in shares of Consolidated Edison by 26.9% in the fourth quarter. S.A. Mason LLC now owns 962 shares of the utilities provider’s stock worth $86,000 after acquiring an additional 204 shares during the last quarter. Chicago Capital LLC raised its stake in Consolidated Edison by 9.2% in the 4th quarter. Chicago Capital LLC now owns 3,803 shares of the utilities provider’s stock valued at $339,000 after purchasing an additional 320 shares during the last quarter. CGC Financial Services LLC lifted its holdings in Consolidated Edison by 64.0% in the 4th quarter. CGC Financial Services LLC now owns 546 shares of the utilities provider’s stock valued at $49,000 after purchasing an additional 213 shares in the last quarter. McAdam LLC boosted its stake in shares of Consolidated Edison by 12.6% during the 4th quarter. McAdam LLC now owns 2,939 shares of the utilities provider’s stock worth $262,000 after purchasing an additional 328 shares during the last quarter. Finally, Greenleaf Trust grew its holdings in shares of Consolidated Edison by 5.1% during the fourth quarter. Greenleaf Trust now owns 8,559 shares of the utilities provider’s stock worth $764,000 after buying an additional 412 shares in the last quarter. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Consolidated Edison Trading Down 0.7 %

NYSE ED opened at $94.96 on Wednesday. The firm has a market capitalization of $32.89 billion, a price-to-earnings ratio of 17.88, a PEG ratio of 2.99 and a beta of 0.39. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. Consolidated Edison, Inc. has a one year low of $85.85 and a one year high of $107.75. The company’s 50 day moving average price is $92.42 and its 200 day moving average price is $98.15.

Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, November 7th. The utilities provider reported $1.68 EPS for the quarter, beating analysts’ consensus estimates of $1.56 by $0.12. The business had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.02 billion. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. On average, sell-side analysts predict that Consolidated Edison, Inc. will post 5.35 EPS for the current year.

Consolidated Edison Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date of this dividend is Wednesday, February 19th. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83. Consolidated Edison’s payout ratio is currently 62.52%.

Wall Street Analyst Weigh In

ED has been the topic of several recent analyst reports. Morgan Stanley reduced their price objective on shares of Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating on the stock in a research note on Friday, November 22nd. Barclays decreased their price objective on Consolidated Edison from $99.00 to $92.00 and set an “underweight” rating on the stock in a report on Monday, January 27th. Scotiabank upgraded Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and increased their target price for the stock from $90.00 to $100.00 in a research report on Thursday, December 12th. Jefferies Financial Group assumed coverage on Consolidated Edison in a report on Wednesday, October 9th. They issued a “hold” rating and a $108.00 price target for the company. Finally, Mizuho increased their price objective on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a report on Monday. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $100.00.

About Consolidated Edison

Consolidated Edison, Inc, through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States. It offers electric services to approximately 3.7 million customers in New York City and Westchester County; gas to approximately 1.1 million customers in Manhattan, the Bronx, parts of Queens, and Westchester County; and steam to approximately 1,530 customers in parts of Manhattan.