Swiss National Bank Sells 51,900 Shares of Consolidated Edison Inc $ED

Swiss National Bank decreased its holdings in Consolidated Edison Inc (NYSE:ED) by 4.8% in the third quarter, Holdings Channel reports. The fund owned 1,038,500 shares of the utilities provider’s stock after selling 51,900 shares during the quarter. Swiss National Bank’s holdings in Consolidated Edison were worth $104,390,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Consolidated Edison by 0.3% during the third quarter. Vanguard Group Inc. now owns 45,174,933 shares of the utilities provider’s stock valued at $4,540,984,000 after purchasing an additional 134,122 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Consolidated Edison by 6.1% in the 2nd quarter. Geode Capital Management LLC now owns 9,796,782 shares of the utilities provider’s stock worth $979,204,000 after purchasing an additional 566,358 shares during the period. Norges Bank bought a new position in shares of Consolidated Edison during the 2nd quarter valued at approximately $462,218,000. ATLAS Infrastructure Partners UK Ltd. raised its holdings in Consolidated Edison by 4.8% during 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 buying an additional 110,666 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Consolidated Edison by 4.6% in 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 last quarter. 66.29% of the stock is owned by institutional investors.

Insider Activity

In related news, Director John F. Killian sold 2,276 shares of the stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $96.89, for a total value of $220,521.64. Following the transaction, the director owned 38,661 shares of the company’s stock, valued at $3,745,864.29. This represents a 5.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on ED. Barclays lifted their price objective on shares of Consolidated Edison from $100.00 to $110.00 and gave the stock an “underweight” rating in a research note on Tuesday, February 24th. Morgan Stanley reaffirmed an “underweight” rating and set a $102.00 price target on shares of Consolidated Edison in a research note on Friday, February 20th. Bank of America reiterated an “underperform” rating and set a $104.00 price target on shares of Consolidated Edison in a report on Wednesday, February 25th. TD Cowen raised their price objective on shares of Consolidated Edison from $105.00 to $112.00 and gave the stock a “hold” rating in a research note on Tuesday, February 24th. Finally, Citigroup restated a “buy” rating on shares of Consolidated Edison in a research report on Monday, February 23rd. Three analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Consolidated Edison currently has an average rating of “Reduce” and a consensus target price of $107.73.

Consolidated Edison Stock Down 0.4%

Shares of ED opened at $111.30 on Wednesday. The firm has a fifty day moving average price of $106.76 and a 200-day moving average price of $101.64. 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 firm has a market capitalization of $40.21 billion, a P/E ratio of 19.70, a P/E/G ratio of 3.00 and a beta of 0.38. Consolidated Edison Inc has a 12-month low of $94.96 and a 12-month high of $115.25.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, February 19th. The utilities provider reported $0.89 EPS for the quarter, topping the consensus estimate of $0.86 by $0.03. The company had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.71 billion. Consolidated Edison had a net margin of 11.95% and a return on equity of 8.50%. The firm’s revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.98 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Equities research analysts expect that Consolidated Edison Inc will post 5.62 earnings per share 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 issued a $0.8875 dividend. The ex-dividend date is Wednesday, February 18th. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.85. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.2%. Consolidated Edison’s dividend payout ratio (DPR) is presently 62.83%.

Consolidated Edison 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.