Amalgamated Bank grew its position in shares of Consolidated Edison Inc (NYSE:ED) by 61.1% during the second quarter, according to its most recent filing with the SEC. The firm owned 34,507 shares of the utilities provider’s stock after acquiring an additional 13,084 shares during the period. Amalgamated Bank’s holdings in Consolidated Edison were worth $2,789,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Girard Partners LTD. grew its holdings in shares of Consolidated Edison by 91.9% during the 2nd quarter. Girard Partners LTD. now owns 5,578 shares of the utilities provider’s stock worth $451,000 after acquiring an additional 2,671 shares during the period. Ameriprise Financial Inc. grew its holdings in shares of Consolidated Edison by 3.8% during the 1st quarter. Ameriprise Financial Inc. now owns 215,980 shares of the utilities provider’s stock worth $16,770,000 after acquiring an additional 8,002 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Consolidated Edison by 2.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 604,894 shares of the utilities provider’s stock worth $46,977,000 after acquiring an additional 15,382 shares during the period. Dai Ichi Life Insurance Company Ltd grew its holdings in shares of Consolidated Edison by 16.4% during the 1st quarter. Dai Ichi Life Insurance Company Ltd now owns 63,364 shares of the utilities provider’s stock worth $4,921,000 after acquiring an additional 8,918 shares during the period. Finally, Prudential Financial Inc. grew its holdings in shares of Consolidated Edison by 0.5% during the 2nd quarter. Prudential Financial Inc. now owns 448,998 shares of the utilities provider’s stock worth $36,288,000 after acquiring an additional 2,322 shares during the period. Hedge funds and other institutional investors own 55.09% of the company’s stock.
Shares of Consolidated Edison Inc (NYSE:ED) opened at 84.44 on Friday. Consolidated Edison Inc has a 1-year low of $68.76 and a 1-year high of $86.16. The stock has a market capitalization of $25.81 billion, a price-to-earnings ratio of 20.43 and a beta of 0.09. The stock has a 50 day moving average price of $83.81 and a 200 day moving average price of $80.98.
Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, August 3rd. The utilities provider reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.03). The business had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.79 billion. Consolidated Edison had a net margin of 10.57% and a return on equity of 8.59%. During the same quarter in the prior year, the firm earned $0.60 earnings per share. Equities research analysts anticipate that Consolidated Edison Inc will post $4.09 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Wednesday, August 16th were given a dividend of $0.69 per share. The ex-dividend date of this dividend was Monday, August 14th. This represents a $2.76 dividend on an annualized basis and a yield of 3.27%. Consolidated Edison’s dividend payout ratio is presently 66.67%.
A number of analysts have recently commented on the company. Zacks Investment Research cut Consolidated Edison from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. BidaskClub cut Consolidated Edison from a “buy” rating to a “hold” rating in a research report on Saturday, July 1st. Morgan Stanley upped their price objective on Consolidated Edison from $75.00 to $78.00 and gave the company an “underweight” rating in a research report on Thursday, August 10th. Finally, Jefferies Group LLC cut Consolidated Edison from a “buy” rating to a “hold” rating and lowered their price objective for the company from $88.00 to $83.50 in a research report on Tuesday, June 13th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $77.88.
In related news, CEO Joseph P. Oates sold 1,908 shares of the business’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $83.87, for a total transaction of $160,023.96. Following the completion of the transaction, the chief executive officer now directly owns 24,017 shares in the company, valued at $2,014,305.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have purchased 471 shares of company stock valued at $39,202 over the last 90 days. 0.20% of the stock is currently owned by insiders.
Consolidated Edison Company Profile
Consolidated Edison, Inc (Con Edison) is a holding company. The Company operates through its subsidiaries, which include Consolidated Edison Company of New York, Inc (CECONY), Orange and Rockland Utilities, Inc (O&R), Con Edison Clean Energy Businesses, Inc (the Clean Energy Businesses) and Con Edison Transmission, Inc (Con Edison Transmission).
Want to see what other hedge funds are holding ED? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Consolidated Edison Inc (NYSE:ED).
Receive News & Ratings for Consolidated Edison Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Consolidated Edison Inc and related companies with MarketBeat.com's FREE daily email newsletter.