UBS Group AG Lowers Stock Holdings in Consolidated Edison Inc $ED

UBS Group AG trimmed its position in Consolidated Edison Inc (NYSE:ED) by 46.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,073,152 shares of the utilities provider’s stock after selling 916,163 shares during the period. UBS Group AG’s holdings in Consolidated Edison were worth $106,585,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Consolidated Edison by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 45,636,041 shares of the utilities provider’s stock worth $4,532,572,000 after buying an additional 461,108 shares in the last quarter. State Street Corp lifted its holdings in shares of Consolidated Edison by 0.3% in the third quarter. State Street Corp now owns 24,050,572 shares of the utilities provider’s stock worth $2,417,563,000 after buying an additional 63,346 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in shares of Consolidated Edison by 121,543.9% in the third quarter. Lazard Asset Management LLC now owns 5,960,553 shares of the utilities provider’s stock worth $599,155,000 after buying an additional 5,955,653 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Consolidated Edison by 1.2% in the third quarter. Legal & General Group Plc now owns 4,351,530 shares of the utilities provider’s stock worth $437,416,000 after buying an additional 52,061 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Consolidated Edison by 1.4% in the third quarter. Northern Trust Corp now owns 4,128,793 shares of the utilities provider’s stock worth $415,026,000 after buying an additional 57,365 shares in the last quarter. 66.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Consolidated Edison news, SVP Deneen L. Donnley sold 1,922 shares of the stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $113.94, for a total transaction of $218,992.68. Following the transaction, the senior vice president directly owned 32,453 shares in the company, valued at $3,697,694.82. This trade represents a 5.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.15% of the stock is owned by insiders.

Consolidated Edison Stock Down 0.8%

ED stock opened at $110.61 on Friday. The company has a current ratio of 1.02, a quick ratio of 0.94 and a debt-to-equity ratio of 1.06. The company’s 50 day moving average is $111.76 and its 200 day moving average is $105.09. The stock has a market cap of $40.75 billion, a price-to-earnings ratio of 19.58, a price-to-earnings-growth ratio of 2.81 and a beta of 0.29. Consolidated Edison Inc has a 1-year low of $94.96 and a 1-year high of $116.23.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, February 19th. The utilities provider reported $0.89 earnings per share 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 analysts’ expectations of $3.71 billion. Consolidated Edison had a net margin of 11.95% and a return on equity of 8.50%. Consolidated Edison’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.98 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Sell-side analysts predict that Consolidated Edison Inc will post 6.08 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Wednesday, May 13th will be given a $0.8875 dividend. 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 dividend payout ratio is 62.83%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Royal Bank Of Canada reissued a “sector perform” rating and issued a $118.00 price target on shares of Consolidated Edison in a report on Friday, January 23rd. Scotiabank upped their price objective on shares of Consolidated Edison from $113.00 to $117.00 and gave the stock a “sector perform” rating in a research report on Friday, February 20th. Weiss Ratings upgraded shares of Consolidated Edison from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th. Citigroup restated a “buy” rating on shares of Consolidated Edison in a research report on Monday, February 23rd. Finally, KeyCorp upped their price objective on shares of Consolidated Edison from $96.00 to $97.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 21st. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $108.92.

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.