Pictet Asset Management Holding SA Has $21.15 Million Stock Position in Consolidated Edison Inc $ED

Pictet Asset Management Holding SA reduced its stake in Consolidated Edison Inc (NYSE:ED) by 4.2% during the 4th quarter, Holdings Channel reports. The fund owned 212,950 shares of the utilities provider’s stock after selling 9,358 shares during the period. Pictet Asset Management Holding SA’s holdings in Consolidated Edison were worth $21,150,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in ED. Lazard Asset Management LLC boosted its stake in 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 valued at $599,155,000 after purchasing an additional 5,955,653 shares during the period. AQR Capital Management LLC increased its position in Consolidated Edison by 104.6% during the 3rd quarter. AQR Capital Management LLC now owns 1,905,678 shares of the utilities provider’s stock worth $190,530,000 after buying an additional 974,419 shares during the period. Qube Research & Technologies Ltd lifted its holdings in shares of Consolidated Edison by 94.7% during the third quarter. Qube Research & Technologies Ltd now owns 1,904,876 shares of the utilities provider’s stock worth $191,478,000 after buying an additional 926,716 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Consolidated Edison by 344.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 891,895 shares of the utilities provider’s stock valued at $88,583,000 after acquiring an additional 691,304 shares during the period. Finally, Rakuten Investment Management Inc. bought a new stake in shares of Consolidated Edison in the third quarter valued at about $60,497,000. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Up 2.4%

Shares of NYSE:ED opened at $111.52 on Friday. Consolidated Edison Inc has a 52-week low of $94.96 and a 52-week high of $116.23. The company has a market capitalization of $41.08 billion, a PE ratio of 19.74, a price-to-earnings-growth ratio of 2.77 and a beta of 0.34. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.94 and a current ratio of 1.02. The company has a fifty day moving average of $111.76 and a 200-day moving average of $105.06.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data 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. Consolidated Edison had a return on equity of 8.50% and a net margin of 11.95%.The business had revenue of $4 billion for the quarter, compared to analyst estimates of $3.71 billion. During the same quarter in the previous year, the company posted $0.98 EPS. Consolidated Edison’s quarterly revenue was up 8.9% compared to the same quarter last year. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, equities analysts predict that Consolidated Edison Inc will post 6.08 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Wednesday, May 13th will be issued a dividend of $0.8875 per share. This represents a $3.55 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Wednesday, May 13th. Consolidated Edison’s payout ratio is 62.83%.

Insider Activity

In other news, SVP Deneen L. Donnley sold 1,922 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $113.94, for a total value of $218,992.68. Following the completion of the transaction, the senior vice president owned 32,453 shares of the company’s stock, valued at $3,697,694.82. This represents a 5.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.15% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $118.00 target price on shares of Consolidated Edison in a report on Friday, January 23rd. Bank of America reissued an “underperform” rating and set a $104.00 price target on shares of Consolidated Edison in a research report on Wednesday, February 25th. Citigroup restated a “buy” rating on shares of Consolidated Edison in a research note on Monday, February 23rd. Wells Fargo & Company set a $98.00 price objective on Consolidated Edison in a report on Tuesday, April 21st. Finally, Barclays upped their target price on Consolidated Edison from $100.00 to $110.00 and gave the company an “underweight” rating in a research report on Tuesday, February 24th. 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $108.50.

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.