Consolidated Edison Inc $ED Stock Bought by International Assets Investment Management LLC

by · The Markets Daily

International Assets Investment Management LLC grew its position in Consolidated Edison Inc (NYSE:ED – Free Report) by 3,407.6% in the third quarter, HoldingsChannel reports. The fund owned 297,517 shares of the utilities provider’s stock after acquiring an additional 289,035 shares during the quarter. International Assets Investment Management LLC’s holdings in Consolidated Edison were worth $30,409,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of Consolidated Edison during the 2nd quarter valued at about $4,609,491,000. Deutsche Bank AG purchased a new position in shares of Consolidated Edison in the 2nd quarter valued at about $749,184,000. Legal & General Group Plc acquired a new position in Consolidated Edison in the 2nd quarter worth about $494,352,000. Bank of New York Mellon Corp acquired a new position in Consolidated Edison in the 2nd quarter worth about $231,014,000. Finally, Amundi raised its holdings in Consolidated Edison by 66.2% in the 1st quarter. Amundi now owns 3,872,404 shares of the utilities provider’s stock worth $438,272,000 after purchasing an additional 1,543,069 shares during the period. 66.29% of the stock is owned by hedge funds and other institutional investors.

Consolidated Edison Stock Up 1.1%

ED opened at $116.81 on Friday. Consolidated Edison Inc has a twelve month low of $94.96 and a twelve month high of $117.65. The company has a quick ratio of 1.17, a current ratio of 1.27 and a debt-to-equity ratio of 1.04. The company has a 50-day moving average price of $107.73 and a 200 day moving average price of $108.93. The company has a market cap of $43.20 billion, a PE ratio of 19.18, a price-to-earnings-growth ratio of 4.00 and a beta of 0.26.

Consolidated Edison (NYSE:ED – Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The utilities provider reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. Consolidated Edison had a net margin of 12.53% and a return on equity of 8.44%. The firm had revenue of $4.07 billion for the quarter, compared to analyst estimates of $3.60 billion. During the same period last year, the company posted $0.67 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 6.10 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Wednesday, November 18th will be issued a dividend of $0.8875 per share. The ex-dividend date of this dividend is Wednesday, November 18th. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.0%. Consolidated Edison’s dividend payout ratio is presently 58.29%.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. UBS Group raised their price objective on Consolidated Edison from $118.00 to $124.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Morgan Stanley cut their price objective on Consolidated Edison from $101.00 to $97.00 and set an “underweight” rating for the company in a research report on Friday, September 18th. LADENBURG THALM/SH SH upped their target price on Consolidated Edison from $101.00 to $113.50 and gave the stock a “neutral” rating in a research note on Monday, July 13th. Wells Fargo & Company increased their target price on Consolidated Edison from $106.00 to $108.00 and gave the company an “equal weight” rating in a research report on Friday, August 7th. Finally, Mizuho set a $108.00 price target on shares of Consolidated Edison in a research note on Wednesday, October 7th. Four analysts have rated the stock with a Buy rating, nine have given a Hold rating and six have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $108.09.

Get Our Latest Stock Analysis on ED

About Consolidated Edison

(Free Report)

Consolidated Edison, Inc is a diversified energy company headquartered in New York City. Through its regulated utility subsidiaries, the company delivers electricity, natural gas and steam to residential, commercial and industrial customers.

Its principal subsidiary, Consolidated Edison Company of New York, provides electric service throughout New York City and Westchester County, along with gas service in Manhattan, the Bronx, parts of Queens and Westchester County, and steam service in parts of Manhattan.

See Also

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