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

Intech Investment Management LLC lowered its stake in shares of Consolidated Edison Inc (NYSE:ED) by 6.5% in the first quarter, HoldingsChannel.com reports. The firm owned 190,388 shares of the utilities provider’s stock after selling 13,245 shares during the period. Intech Investment Management LLC’s holdings in Consolidated Edison were worth $21,055,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in ED. Focus Partners Wealth grew its stake in shares of Consolidated Edison by 0.4% in the first quarter. Focus Partners Wealth now owns 55,342 shares of the utilities provider’s stock valued at $6,120,000 after buying an additional 228 shares in the last quarter. Flaharty Asset Management LLC purchased a new position in Consolidated Edison during the 1st quarter valued at about $62,000. Integrity Alliance LLC. purchased a new position in Consolidated Edison during the 1st quarter valued at about $281,000. Ransom Advisory Ltd acquired a new position in Consolidated Edison in the 1st quarter valued at about $509,000. Finally, Plato Investment Management Ltd increased its stake in Consolidated Edison by 0.9% during the first quarter. Plato Investment Management Ltd now owns 22,930 shares of the utilities provider’s stock worth $2,563,000 after purchasing an additional 210 shares during the period. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Consolidated Edison Trading Up 0.4%

Shares of NYSE:ED opened at $97.00 on Wednesday. The company has a market cap of $34.98 billion, a PE ratio of 17.60, a P/E/G ratio of 2.69 and a beta of 0.28. The company’s 50 day moving average is $101.07 and its two-hundred day moving average is $103.96. Consolidated Edison Inc has a 52 week low of $87.28 and a 52 week high of $114.87. The company has a current ratio of 1.10, a quick ratio of 1.01 and a debt-to-equity ratio of 1.04.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, August 7th. The utilities provider reported $0.67 EPS for the quarter, beating the consensus estimate of $0.66 by $0.01. The firm had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.39 billion. Consolidated Edison had a return on equity of 8.56% and a net margin of 11.98%.During the same quarter in the prior year, the company posted $0.59 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.500-5.700 EPS. Equities analysts predict that Consolidated Edison Inc will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Wednesday, August 13th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 3.5%. The ex-dividend date is Wednesday, August 13th. Consolidated Edison’s dividend payout ratio is currently 61.71%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on ED shares. Bank of America cut shares of Consolidated Edison from a “buy” rating to an “underperform” rating and dropped their price objective for the company from $112.00 to $101.00 in a report on Friday, August 15th. Scotiabank raised their price target on shares of Consolidated Edison from $101.00 to $106.00 and gave the company a “sector perform” rating in a research report on Monday, August 11th. Barclays boosted their price target on shares of Consolidated Edison from $101.00 to $107.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 13th. KeyCorp reiterated an “overweight” rating on shares of Consolidated Edison in a research note on Wednesday, July 16th. Finally, Morgan Stanley reiterated an “underweight” rating on shares of Consolidated Edison in a report on Thursday, August 21st. Three analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Consolidated Edison presently has an average rating of “Hold” and an average target price of $105.82.

Consolidated Edison Profile

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.