Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Consolidated Edison Inc (NYSE:ED) by 0.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,688 shares of the utilities provider’s stock after buying an additional 59 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Consolidated Edison were worth $1,834,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Armbruster Capital Management Inc. boosted its stake in Consolidated Edison by 127.3% during the second quarter. Armbruster Capital Management Inc. now owns 1,250 shares of the utilities provider’s stock worth $101,000 after buying an additional 700 shares during the last quarter. Stuart Chaussee & Associates Inc. boosted its stake in Consolidated Edison by 138.3% during the first quarter. Stuart Chaussee & Associates Inc. now owns 1,370 shares of the utilities provider’s stock worth $106,000 after buying an additional 795 shares during the last quarter. Oakworth Capital Inc. boosted its stake in Consolidated Edison by 10.5% during the second quarter. Oakworth Capital Inc. now owns 1,447 shares of the utilities provider’s stock worth $117,000 after buying an additional 137 shares during the last quarter. Enterprise Financial Services Corp boosted its stake in Consolidated Edison by 6.0% during the second quarter. Enterprise Financial Services Corp now owns 1,648 shares of the utilities provider’s stock worth $133,000 after buying an additional 93 shares during the last quarter. Finally, Cypress Capital Management LLC WY boosted its stake in Consolidated Edison by 491.7% during the second quarter. Cypress Capital Management LLC WY now owns 1,775 shares of the utilities provider’s stock worth $143,000 after buying an additional 1,475 shares during the last quarter. 55.09% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have commented on the company. Zacks Investment Research downgraded Consolidated Edison from a “buy” rating to a “hold” rating in a report on Tuesday. BidaskClub upgraded Consolidated Edison from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. Finally, Jefferies Group LLC downgraded Consolidated Edison from a “buy” rating to a “hold” rating and cut their price target for the stock from $88.00 to $83.50 in a report on Tuesday, June 13th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $77.88.
In related news, CEO Joseph P. Oates sold 1,908 shares of Consolidated Edison stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $83.87, for a total transaction of $160,023.96. Following the completion of the sale, the chief executive officer now owns 24,017 shares of the company’s stock, valued at approximately $2,014,305.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders bought 471 shares of company stock valued at $39,202. Insiders own 0.20% of the company’s stock.
Shares of Consolidated Edison Inc (NYSE:ED) traded down 0.1892% during trading on Friday, hitting $84.3501. The stock had a trading volume of 966,679 shares. The firm has a market cap of $25.78 billion, a P/E ratio of 20.4089 and a beta of 0.09. Consolidated Edison Inc has a one year low of $68.76 and a one year high of $86.16. The firm’s 50-day moving average is $83.74 and its 200-day moving average is $80.92.
Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.03). Consolidated Edison had a net margin of 10.57% and a return on equity of 8.59%. The business had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.79 billion. During the same quarter in the previous year, the firm posted $0.60 earnings per share. Equities research analysts forecast that Consolidated Edison Inc will post $4.09 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Wednesday, August 16th will be given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date is Monday, August 14th. Consolidated Edison’s dividend payout ratio (DPR) is presently 66.67%.
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Consolidated Edison Company Profile
Consolidated Edison, Inc (Con Edison) is a holding company. The Company operates through its subsidiaries, which include Consolidated Edison Company of New York, Inc (CECONY), Orange and Rockland Utilities, Inc (O&R), Con Edison Clean Energy Businesses, Inc (the Clean Energy Businesses) and Con Edison Transmission, Inc (Con Edison Transmission).
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