Grantham Mayo Van Otterloo & Co. LLC Sells 1,190 Shares of Consolidated Edison Inc $ED

Grantham Mayo Van Otterloo & Co. LLC reduced its position in shares of Consolidated Edison Inc (NYSE:ED) by 2.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 56,467 shares of the utilities provider’s stock after selling 1,190 shares during the period. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Consolidated Edison were worth $5,666,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Revolve Wealth Partners LLC grew its position in shares of Consolidated Edison by 13.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider’s stock worth $332,000 after buying an additional 441 shares during the last quarter. Federated Hermes Inc. lifted its stake in Consolidated Edison by 279.6% in the first quarter. Federated Hermes Inc. now owns 9,919 shares of the utilities provider’s stock worth $1,097,000 after acquiring an additional 7,306 shares during the period. Arkadios Wealth Advisors bought a new stake in Consolidated Edison in the first quarter valued at $298,000. Howard Capital Management Inc. bought a new stake in Consolidated Edison in the first quarter valued at $206,000. Finally, Natixis Advisors LLC increased its position in Consolidated Edison by 18.1% during the 1st quarter. Natixis Advisors LLC now owns 181,114 shares of the utilities provider’s stock valued at $20,029,000 after purchasing an additional 27,749 shares during the period. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Analyst Ratings Changes

ED has been the topic of a number of research reports. Barclays cut their target price on shares of Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating on the stock in a research note on Monday, November 10th. New Street Research set a $106.00 price objective on Consolidated Edison in a research report on Monday, October 6th. Bank of America lowered Consolidated Edison from a “buy” rating to an “underperform” rating and decreased their target price for the stock from $112.00 to $101.00 in a research report on Friday, August 15th. Morgan Stanley restated an “underweight” rating and issued a $98.00 target price on shares of Consolidated Edison in a research note on Thursday, November 20th. Finally, KeyCorp upped their price target on Consolidated Edison from $88.00 to $90.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 15th. Three equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $104.58.

Consolidated Edison Price Performance

ED stock opened at $100.43 on Friday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.10. The firm has a 50 day moving average price of $99.75 and a 200-day moving average price of $100.63. Consolidated Edison Inc has a 52-week low of $87.28 and a 52-week high of $114.87. The firm has a market capitalization of $36.25 billion, a price-to-earnings ratio of 18.23, a PEG ratio of 2.70 and a beta of 0.32.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, November 6th. The utilities provider reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.14. Consolidated Edison had a return on equity of 8.56% and a net margin of 11.98%.During the same period in the prior year, the company posted $1.68 EPS. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. Equities research analysts forecast that Consolidated Edison Inc will post 5.62 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Wednesday, November 19th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Wednesday, November 19th. Consolidated Edison’s payout ratio is currently 59.44%.

Consolidated Edison Profile

Consolidated Edison, Inc, through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States. It offers electric services to approximately 3.7 million customers in New York City and Westchester County; gas to approximately 1.1 million customers in Manhattan, the Bronx, parts of Queens, and Westchester County; and steam to approximately 1,530 customers in parts of Manhattan.