Livforsakringsbolaget Skandia Omsesidigt increased its position in shares of Consolidated Edison Inc (NYSE:ED) by 216.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 114,654 shares of the company’s stock after buying an additional 78,451 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Consolidated Edison were worth $5,837,000 as of its most recent filing with the SEC.
Several other hedge funds also recently added to or reduced their stakes in ED. Retirement Systems of Alabama raised its position in shares of Consolidated Edison by 3.9% in the second quarter. Retirement Systems of Alabama now owns 155,065 shares of the company’s stock worth $12,473,000 after buying an additional 5,864 shares in the last quarter. National Pension Service raised its position in shares of Consolidated Edison by 8.5% in the third quarter. National Pension Service now owns 217,915 shares of the company’s stock worth $16,409,000 after buying an additional 17,106 shares in the last quarter. Bank of Montreal Can raised its position in shares of Consolidated Edison by 1.4% in the third quarter. Bank of Montreal Can now owns 614,486 shares of the company’s stock worth $46,272,000 after buying an additional 8,218 shares in the last quarter. Hennessy Advisors Inc. raised its position in shares of Consolidated Edison by 11.4% in the third quarter. Hennessy Advisors Inc. now owns 434,286 shares of the company’s stock worth $32,702,000 after buying an additional 44,500 shares in the last quarter. Finally, Macquarie Group Ltd. raised its position in shares of Consolidated Edison by 5.0% in the second quarter. Macquarie Group Ltd. now owns 84,600 shares of the company’s stock worth $6,805,000 after buying an additional 4,000 shares in the last quarter. Institutional investors own 53.16% of the company’s stock.
Shares of Consolidated Edison Inc (NYSE:ED) traded up 0.25% during midday trading on Wednesday, reaching $72.82. The company had a trading volume of 531,366 shares. The stock has a 50-day moving average of $72.10 and a 200 day moving average of $75.06. Consolidated Edison Inc has a 52 week low of $65.59 and a 52 week high of $81.88. The firm has a market capitalization of $22.19 billion, a price-to-earnings ratio of 17.94 and a beta of -0.02.
The firm also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Shareholders of record on Wednesday, November 16th were issued a dividend of $0.67 per share. The ex-dividend date was Monday, November 14th. This represents a $2.68 dividend on an annualized basis and a yield of 3.69%. Consolidated Edison’s dividend payout ratio is presently 66.34%.
ED has been the topic of a number of research analyst reports. Citigroup Inc. decreased their target price on Consolidated Edison from $76.00 to $72.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 4th. Morgan Stanley set a $69.00 target price on Consolidated Edison and gave the stock a “sell” rating in a research note on Wednesday, September 21st. Vetr upgraded Consolidated Edison from a “hold” rating to a “buy” rating and set a $78.00 target price on the stock in a research note on Monday, October 31st. Zacks Investment Research lowered Consolidated Edison from a “hold” rating to a “sell” rating in a research note on Wednesday, September 21st. Finally, Deutsche Bank AG reiterated a “hold” rating on shares of Consolidated Edison in a report on Friday, November 4th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $74.82.
In other Consolidated Edison news, insider Craig S. Ivey sold 3,974 shares of the firm’s stock in a transaction dated Monday, December 12th. The stock was sold at an average price of $71.42, for a total transaction of $283,823.08. Following the sale, the insider now directly owns 35,306 shares of the company’s stock, valued at $2,521,554.52. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.16% of the company’s stock.
About Consolidated Edison
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) and Con Edison Transmission, Inc It owns competitive energy businesses. The Company also owns Con Edison Transmission, Inc (Con Edison Transmission), which invests in electric and gas transmission projects through its subsidiaries, Consolidated Edison Transmission, LLC (CET Electric) and Con Edison Gas Midstream, LLC (CET Gas).
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