Pacer Advisors Inc. Sells 11,251 Shares of Consolidated Edison Inc $ED

Pacer Advisors Inc. reduced its holdings in shares of Consolidated Edison Inc (NYSE:ED) by 27.0% during the third quarter, HoldingsChannel.com reports. The fund owned 30,413 shares of the utilities provider’s stock after selling 11,251 shares during the quarter. Pacer Advisors Inc.’s holdings in Consolidated Edison were worth $3,057,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital Advisors Ltd. LLC increased its position in shares of Consolidated Edison by 53.2% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 314 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 109 shares during the last quarter. Bogart Wealth LLC grew its position in Consolidated Edison by 886.5% during the second quarter. Bogart Wealth LLC now owns 365 shares of the utilities provider’s stock valued at $37,000 after buying an additional 328 shares during the period. SJS Investment Consulting Inc. increased its holdings in Consolidated Edison by 1,677.3% during the second quarter. SJS Investment Consulting Inc. now owns 391 shares of the utilities provider’s stock worth $39,000 after buying an additional 369 shares during the last quarter. HFM Investment Advisors LLC purchased a new stake in Consolidated Edison during the first quarter worth about $52,000. Finally, Darwin Wealth Management LLC bought a new stake in Consolidated Edison in the second quarter worth about $52,000. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ED. Wells Fargo & Company raised shares of Consolidated Edison to a “hold” rating in a research report on Tuesday, October 28th. UBS Group dropped their price objective on Consolidated Edison from $112.00 to $104.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 17th. Morgan Stanley set a $92.00 price objective on Consolidated Edison in a report on Tuesday, December 16th. Barclays decreased their target price on Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating for the company in a research report on Monday, November 10th. Finally, New Street Research set a $106.00 price target on Consolidated Edison in a research report on Monday, October 6th. Three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Consolidated Edison has an average rating of “Reduce” and an average target price of $102.54.

Insider Activity at Consolidated Edison

In other news, Director John F. Killian sold 2,276 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $96.89, for a total value of $220,521.64. Following the completion of the transaction, the director directly owned 38,661 shares in the company, valued at approximately $3,745,864.29. This trade represents a 5.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.17% of the company’s stock.

Consolidated Edison Trading Up 0.3%

Shares of ED stock opened at $99.85 on Wednesday. The stock has a market capitalization of $36.04 billion, a price-to-earnings ratio of 17.46, a PEG ratio of 2.88 and a beta of 0.37. The company’s fifty day simple moving average is $98.85 and its two-hundred day simple moving average is $99.81. Consolidated Edison Inc has a 1 year low of $87.28 and a 1 year high of $114.87. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.08 and a quick ratio of 0.97.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, November 6th. The utilities provider reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.14. Consolidated Edison had a return on equity of 8.79% and a net margin of 12.27%.The firm had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.22 billion. During the same period last year, the company earned $1.68 earnings per share. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. As a group, analysts anticipate that Consolidated Edison Inc will post 5.62 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Wednesday, November 19th were issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend was Wednesday, November 19th. Consolidated Edison’s dividend payout ratio is presently 59.44%.

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.