Consolidated Edison Inc (NYSE:ED) Stake Increased by Kernodle & Katon Asset Management Group LLC
Kernodle & Katon Asset Management Group LLC increased its stake in Consolidated Edison Inc (NYSE:ED) by 36.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,594 shares of the utilities provider’s stock after buying an additional 686 shares during the period. Kernodle & Katon Asset Management Group LLC’s holdings in Consolidated Edison were worth $201,000 as of its most recent filing with the SEC.
Other institutional investors also recently bought and sold shares of the company. Thrivent Financial for Lutherans increased its position in Consolidated Edison by 139.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 25,614 shares of the utilities provider’s stock worth $1,888,000 after buying an additional 14,910 shares during the period. Quadrature Capital Ltd boosted its stake in shares of Consolidated Edison by 72.9% in the fourth quarter. Quadrature Capital Ltd now owns 30,356 shares of the utilities provider’s stock worth $2,237,000 after buying an additional 12,795 shares in the last quarter. UBS Asset Management Americas Inc. boosted its stake in shares of Consolidated Edison by 0.8% in the fourth quarter. UBS Asset Management Americas Inc. now owns 1,379,950 shares of the utilities provider’s stock worth $101,675,000 after buying an additional 10,379 shares in the last quarter. Teachers Advisors LLC boosted its stake in Consolidated Edison by 14.8% in the fourth quarter. Teachers Advisors LLC now owns 649,810 shares of the utilities provider’s stock worth $47,878,000 after buying an additional 83,824 shares during the period. Finally, Kentucky Retirement Systems acquired a new stake in Consolidated Edison during the fourth quarter worth $1,629,000. Institutional investors own 56.02% of the company’s stock.
Shares of Consolidated Edison Inc (ED) traded up 0.50% on Friday, hitting $80.73. The company had a trading volume of 837,135 shares. Consolidated Edison Inc has a 52 week low of $68.76 and a 52 week high of $85.13. The stock has a market capitalization of $24.65 billion, a PE ratio of 18.47 and a beta of 0.08. The firm’s 50 day moving average price is $82.41 and its 200-day moving average price is $77.50.
Consolidated Edison (NYSE:ED) last announced its quarterly earnings results on Thursday, May 4th. The utilities provider reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.08. The firm had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.05 billion. Consolidated Edison had a return on equity of 9.05% and a net margin of 10.90%. During the same quarter in the previous year, the business earned $1.18 earnings per share. Analysts forecast that Consolidated Edison Inc will post $4.09 earnings per share for the current fiscal year.
A number of equities research analysts recently weighed in on the company. UBS AG increased their price target on Consolidated Edison from $72.00 to $75.00 and gave the company a “sell” rating in a research note on Monday, May 15th. BidaskClub cut Consolidated Edison from a “hold” rating to a “sell” rating in a research report on Wednesday. Zacks Investment Research lowered Consolidated Edison from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. Finally, Jefferies Group LLC lowered Consolidated Edison from a “buy” rating to a “hold” rating and reduced their target price for the stock from $88.00 to $83.50 in a report on Tuesday, June 13th. Seven equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $76.82.
In other Consolidated Edison news, Director Linda S. Sanford acquired 900 shares of Consolidated Edison stock in a transaction that occurred on Wednesday, May 17th. The stock was bought at an average price of $79.74 per share, with a total value of $71,766.00. Following the completion of the purchase, the director now directly owns 8,748 shares of the company’s stock, valued at approximately $697,565.52. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders purchased 1,267 shares of company stock valued at $102,215 in the last three months. 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).
Receive News & Stock 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 stocks with our FREE daily email newsletter.