Consolidated Edison Inc $ED Shares Acquired by California State Teachers Retirement System

by · The Cerbat Gem

California State Teachers Retirement System increased its position in shares of Consolidated Edison Inc (NYSE:ED – Free Report) by 13,703.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 87,936,136 shares of the utilities provider’s stock after buying an additional 87,299,071 shares during the period. California State Teachers Retirement System owned about 0.24% of Consolidated Edison worth $9,728,375,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in ED. BlackRock Inc. acquired a new position in Consolidated Edison during the 2nd quarter worth approximately $4,609,491,000. State Street Corp raised its holdings in shares of Consolidated Edison by 3.6% in the 4th quarter. State Street Corp now owns 24,905,440 shares of the utilities provider’s stock valued at $2,473,608,000 after purchasing an additional 854,868 shares in the last quarter. Lazard Asset Management LLC raised its holdings in shares of Consolidated Edison by 14.8% in the 1st quarter. Lazard Asset Management LLC now owns 7,075,838 shares of the utilities provider’s stock valued at $800,843,000 after purchasing an additional 910,244 shares in the last quarter. Deutsche Bank AG purchased a new stake in shares of Consolidated Edison during the 2nd quarter worth $749,184,000. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Consolidated Edison by 11.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,200,840 shares of the utilities provider’s stock worth $516,549,000 after purchasing an additional 514,178 shares during the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Trading Up 1.1%

NYSE:ED opened at $108.45 on Wednesday. The company has a market capitalization of $40.11 billion, a PE ratio of 17.81, a P/E/G ratio of 3.71 and a beta of 0.27. Consolidated Edison Inc has a 52-week low of $94.96 and a 52-week high of $116.23. The stock’s 50 day moving average price is $109.63 and its 200 day moving average price is $109.71. The company has a quick ratio of 1.17, a current ratio of 1.27 and a debt-to-equity ratio of 1.04.

Consolidated Edison (NYSE:ED – Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The utilities provider reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.07. The business had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $3.60 billion. Consolidated Edison had a return on equity of 8.44% and a net margin of 12.53%.During the same period in the prior year, the company earned $0.67 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, research analysts anticipate that Consolidated Edison Inc will post 6.1 EPS for the current year.

Consolidated Edison Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Wednesday, August 19th will be given a $0.8875 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $3.55 annualized dividend and a yield of 3.3%. Consolidated Edison’s dividend payout ratio is 58.29%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ED shares. Morgan Stanley cut their price target on Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating on the stock in a research note on Friday, August 21st. Mizuho set a $114.00 price objective on Consolidated Edison in a research report on Monday, July 27th. Evercore reiterated a “positive” rating and issued a $112.00 price objective on shares of Consolidated Edison in a report on Monday, August 17th. Weiss Ratings reissued a “buy (b)” rating on shares of Consolidated Edison in a report on Tuesday, July 21st. Finally, The Goldman Sachs Group restated a “sell” rating and set a $105.00 price objective on shares of Consolidated Edison in a research report on Thursday, May 14th. Three analysts have rated the stock with a Buy rating, six have issued a Hold rating and six have assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $108.93.

Get Our Latest Stock Analysis on Consolidated Edison

About Consolidated Edison

(Free Report)

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.

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