Glenview Trust Co Acquires New Holdings in Consolidated Edison Inc $ED

Glenview Trust Co bought a new stake in Consolidated Edison Inc (NYSE:ED) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 8,604 shares of the utilities provider’s stock, valued at approximately $952,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in shares of Consolidated Edison during the second quarter valued at approximately $4,609,491,000. Deutsche Bank AG acquired a new position in shares of Consolidated Edison during the 2nd quarter valued at $749,184,000. Lazard Asset Management LLC raised its stake in shares of Consolidated Edison by 121,543.9% in the 3rd quarter. Lazard Asset Management LLC now owns 5,960,553 shares of the utilities provider’s stock worth $599,155,000 after buying an additional 5,955,653 shares in the last quarter. Norges Bank bought a new position in Consolidated Edison during the fourth quarter valued at about $489,806,000. Finally, Legal & General Group Plc bought a new position in shares of Consolidated Edison during the 2nd quarter valued at about $494,352,000. 66.29% of the stock is currently owned by institutional investors.

Consolidated Edison Trading Up 0.7%

Consolidated Edison stock opened at $107.40 on Friday. Consolidated Edison Inc has a 12 month low of $94.96 and a 12 month high of $116.23. The company has a quick ratio of 1.17, a current ratio of 1.27 and a debt-to-equity ratio of 1.04. The stock has a market cap of $39.72 billion, a P/E ratio of 17.64, a P/E/G ratio of 2.71 and a beta of 0.27. The company’s fifty day simple moving average is $109.99 and its 200-day simple moving average is $109.88.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, August 6th. The utilities provider reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.07. Consolidated Edison had a return on equity of 8.44% and a net margin of 12.53%.The business had revenue of $4.07 billion during the quarter, compared to analyst estimates of $3.60 billion. During the same period last year, the company earned $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. As a group, sell-side analysts forecast that Consolidated Edison Inc will post 6.09 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Wednesday, August 19th will be issued a dividend of $0.8875 per share. This represents a $3.55 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Wednesday, August 19th. Consolidated Edison’s payout ratio is currently 58.29%.

Wall Street Analyst Weigh In

ED has been the subject of a number of recent research reports. Argus set a $112.00 price objective on Consolidated Edison in a research report on Tuesday, June 23rd. Barclays reduced their target price on Consolidated Edison from $112.00 to $106.00 and set an “underweight” rating for the company in a report on Friday, August 7th. Mizuho set a $114.00 price objective on Consolidated Edison in a report on Monday, July 27th. Morgan Stanley reduced their price objective on shares of Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating for the company in a research note on Friday, August 21st. Finally, KeyCorp dropped their target price on shares of Consolidated Edison from $97.00 to $94.00 and set an “underweight” rating on the stock in a research report on Thursday, July 23rd. Three investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and six have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $108.93.

Consolidated Edison Company 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.