QRG Capital Management Inc. Purchases 7,630 Shares of Consolidated Edison Inc $ED

QRG Capital Management Inc. grew its position in shares of Consolidated Edison Inc (NYSE:ED) by 4.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 175,354 shares of the utilities provider’s stock after buying an additional 7,630 shares during the period. QRG Capital Management Inc.’s holdings in Consolidated Edison were worth $17,416,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Pinnacle Wealth Management Advisory Group LLC increased its position in Consolidated Edison by 36.7% during the 4th quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,155 shares of the utilities provider’s stock worth $413,000 after buying an additional 1,116 shares during the period. Varma Mutual Pension Insurance Co increased its position in Consolidated Edison by 13.6% during the 4th quarter. Varma Mutual Pension Insurance Co now owns 139,915 shares of the utilities provider’s stock worth $13,896,000 after buying an additional 16,700 shares during the period. Intact Investment Management Inc. bought a new position in Consolidated Edison during the 4th quarter worth $79,000. Aurora Private Wealth Inc. bought a new position in Consolidated Edison during the 4th quarter worth $209,000. Finally, Composition Wealth LLC bought a new position in Consolidated Edison during the 4th quarter worth $249,000. Institutional investors own 66.29% of the company’s stock.

Wall Street Analyst Weigh In

ED has been the topic of several recent research reports. Barclays increased their price objective on Consolidated Edison from $100.00 to $110.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 24th. Wells Fargo & Company set a $98.00 price objective on Consolidated Edison in a research report on Tuesday, April 21st. Mizuho set a $118.00 target price on Consolidated Edison in a report on Monday, February 23rd. JPMorgan Chase & Co. increased their target price on Consolidated Edison from $107.00 to $113.00 and gave the stock an “underweight” rating in a report on Thursday, March 12th. Finally, Scotiabank increased their target price on Consolidated Edison from $113.00 to $117.00 and gave the stock a “sector perform” rating in a report on Friday, February 20th. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat, Consolidated Edison presently has a consensus rating of “Reduce” and an average target price of $108.92.

Consolidated Edison Stock Performance

ED opened at $109.73 on Tuesday. The firm has a market cap of $40.43 billion, a P/E ratio of 19.42, a price-to-earnings-growth ratio of 2.81 and a beta of 0.29. Consolidated Edison Inc has a 52-week low of $94.96 and a 52-week high of $116.23. 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 business’s fifty day moving average is $111.76 and its 200-day moving average is $105.11.

Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, February 19th. The utilities provider reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.03. The company had revenue of $4 billion for the quarter, compared to analyst estimates of $3.71 billion. Consolidated Edison had a return on equity of 8.50% and a net margin of 11.95%.Consolidated Edison’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.98 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Sell-side analysts expect that Consolidated Edison Inc will post 6.08 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Wednesday, May 13th will be paid a $0.8875 dividend. The ex-dividend date of this dividend is Wednesday, May 13th. This represents a $3.55 annualized dividend and a yield of 3.2%. Consolidated Edison’s dividend payout ratio (DPR) is 62.83%.

Insiders Place Their Bets

In related news, SVP Deneen L. Donnley sold 1,922 shares of the firm’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $113.94, for a total value of $218,992.68. Following the sale, the senior vice president directly owned 32,453 shares of the company’s stock, valued at $3,697,694.82. This trade 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 link. 0.15% of the stock is owned by company insiders.

About Consolidated Edison

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.