Schroder Investment Management Group Sells 96,579 Shares of Consolidated Edison Inc $ED

Schroder Investment Management Group decreased its stake in Consolidated Edison Inc (NYSE:ED) by 15.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 511,593 shares of the utilities provider’s stock after selling 96,579 shares during the quarter. Schroder Investment Management Group’s holdings in Consolidated Edison were worth $51,338,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Atlantic Union Bankshares Corp boosted its stake in Consolidated Edison by 46.7% in the 2nd quarter. Atlantic Union Bankshares Corp now owns 3,714 shares of the utilities provider’s stock worth $373,000 after purchasing an additional 1,183 shares during the period. AG2R LA Mondiale Gestion D Actifs bought a new stake in shares of Consolidated Edison during the first quarter valued at approximately $1,631,000. Texas Yale Capital Corp. lifted its holdings in shares of Consolidated Edison by 41.8% in the second quarter. Texas Yale Capital Corp. now owns 16,627 shares of the utilities provider’s stock worth $1,669,000 after buying an additional 4,900 shares in the last quarter. CENTRAL TRUST Co boosted its position in shares of Consolidated Edison by 18.8% during the second quarter. CENTRAL TRUST Co now owns 6,960 shares of the utilities provider’s stock worth $698,000 after acquiring an additional 1,102 shares during the last quarter. Finally, Mediolanum International Funds Ltd boosted its position in shares of Consolidated Edison by 65.5% during the second quarter. Mediolanum International Funds Ltd now owns 14,502 shares of the utilities provider’s stock worth $1,423,000 after acquiring an additional 5,742 shares during the last quarter. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Consolidated Edison Trading Up 0.3%

ED opened at $100.43 on Monday. The stock has a 50-day moving average of $99.75 and a 200 day moving average of $100.64. The company has a current ratio of 1.10, a quick ratio of 1.01 and a debt-to-equity ratio of 1.04. Consolidated Edison Inc has a 12 month low of $87.28 and a 12 month high of $114.87. The firm has a market cap of $36.25 billion, a P/E ratio of 18.23, a P/E/G ratio of 2.70 and a beta of 0.32.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings data on Thursday, November 6th. The utilities provider reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 quarter in the prior year, the firm earned $1.68 EPS. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. As a group, research analysts forecast that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Announces Dividend

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

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Wells Fargo & Company upgraded shares of Consolidated Edison to a “hold” rating in a report on Tuesday, October 28th. KeyCorp lifted their target price on Consolidated Edison from $88.00 to $90.00 and gave the stock an “underweight” rating in a report on Wednesday, October 15th. Morgan Stanley reiterated an “underweight” rating and issued a $98.00 target price on shares of Consolidated Edison in a research report on Thursday, November 20th. Bank of America cut Consolidated Edison from a “buy” rating to an “underperform” rating and cut their price target for the company from $112.00 to $101.00 in a report on Friday, August 15th. Finally, Scotiabank lifted their price objective on Consolidated Edison from $101.00 to $106.00 and gave the stock a “sector perform” rating in a research note on Monday, August 11th. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $104.58.

Consolidated Edison Company 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.