Intech Investment Management LLC Acquires 15,683 Shares of Consolidated Edison Inc $ED

Intech Investment Management LLC raised its stake in shares of Consolidated Edison Inc (NYSE:ED) by 9.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 190,756 shares of the utilities provider’s stock after purchasing an additional 15,683 shares during the quarter. Intech Investment Management LLC owned 0.05% of Consolidated Edison worth $19,175,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Consolidated Edison by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 45,174,933 shares of the utilities provider’s stock worth $4,540,984,000 after purchasing an additional 134,122 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Consolidated Edison by 6.1% during the 2nd quarter. Geode Capital Management LLC now owns 9,796,782 shares of the utilities provider’s stock worth $979,204,000 after acquiring an additional 566,358 shares in the last quarter. Norges Bank bought a new stake in shares of Consolidated Edison in the 2nd quarter worth about $462,218,000. ATLAS Infrastructure Partners UK Ltd. lifted its stake in shares of Consolidated Edison by 4.8% in the 2nd quarter. ATLAS Infrastructure Partners UK Ltd. now owns 2,409,288 shares of the utilities provider’s stock valued at $241,772,000 after purchasing an additional 110,666 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Consolidated Edison by 4.6% during the second quarter. Charles Schwab Investment Management Inc. now owns 2,376,237 shares of the utilities provider’s stock worth $238,455,000 after buying an additional 104,643 shares during the period. Institutional investors own 66.29% of the company’s stock.

Insider Activity

In other news, Director John F. Killian sold 2,276 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $96.89, for a total value of $220,521.64. Following the completion of the transaction, the director directly owned 38,661 shares in the company, valued at approximately $3,745,864.29. The trade was a 5.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Scotiabank raised their price target on shares of Consolidated Edison from $113.00 to $117.00 and gave the stock a “sector perform” rating in a research note on Friday, February 20th. JPMorgan Chase & Co. cut their price objective on shares of Consolidated Edison from $101.00 to $97.00 and set an “underweight” rating on the stock in a research report on Friday, December 12th. Barclays boosted their price target on Consolidated Edison from $100.00 to $110.00 and gave the stock an “underweight” rating in a research note on Tuesday. Morgan Stanley reiterated an “underweight” rating and set a $102.00 price target on shares of Consolidated Edison in a research note on Friday, February 20th. Finally, TD Cowen boosted their price objective on Consolidated Edison from $105.00 to $112.00 and gave the company a “hold” rating in a report on Tuesday. Three research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $107.07.

Consolidated Edison Stock Performance

Shares of Consolidated Edison stock opened at $111.12 on Thursday. Consolidated Edison Inc has a 12 month low of $94.96 and a 12 month high of $115.25. The company has a current ratio of 1.02, a quick ratio of 0.94 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $40.14 billion, a PE ratio of 19.67, a PEG ratio of 3.01 and a beta of 0.38. The stock’s fifty day simple moving average is $104.49 and its 200 day simple moving average is $101.03.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, February 19th. The utilities provider reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.03. The firm had revenue of $3.99 billion during the quarter, compared to analyst estimates of $3.71 billion. Consolidated Edison had a net margin of 11.95% and a return on equity of 8.50%. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.98 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, research analysts predict that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Wednesday, February 18th will be paid a $0.8875 dividend. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.85. The ex-dividend date is Wednesday, February 18th. This represents a $3.55 annualized dividend and a yield of 3.2%. Consolidated Edison’s dividend payout ratio is presently 62.83%.

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.