Utah Retirement Systems raised its stake in shares of Consolidated Edison Inc (NYSE:ED) by 0.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,120 shares of the utilities provider’s stock after buying an additional 300 shares during the period. Utah Retirement Systems’ holdings in Consolidated Edison were worth $4,536,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of ED. Candriam Luxembourg S.C.A. raised its position in shares of Consolidated Edison by 24.9% in the first quarter. Candriam Luxembourg S.C.A. now owns 23,316 shares of the utilities provider’s stock valued at $1,811,000 after buying an additional 4,650 shares in the last quarter. First Manhattan Co. raised its position in shares of Consolidated Edison by 11.6% in the first quarter. First Manhattan Co. now owns 7,137 shares of the utilities provider’s stock valued at $537,000 after buying an additional 742 shares in the last quarter. Clear Harbor Asset Management LLC raised its position in shares of Consolidated Edison by 1.8% in the first quarter. Clear Harbor Asset Management LLC now owns 15,970 shares of the utilities provider’s stock valued at $1,240,000 after buying an additional 278 shares in the last quarter. Shell Asset Management Co. raised its position in shares of Consolidated Edison by 9.3% in the first quarter. Shell Asset Management Co. now owns 150,488 shares of the utilities provider’s stock valued at $11,687,000 after buying an additional 12,781 shares in the last quarter. Finally, Strs Ohio raised its position in shares of Consolidated Edison by 8.0% in the first quarter. Strs Ohio now owns 40,623 shares of the utilities provider’s stock valued at $3,154,000 after buying an additional 3,023 shares in the last quarter. Institutional investors and hedge funds own 55.07% of the company’s stock.

Shares of Consolidated Edison Inc (NYSE ED) opened at 84.59 on Tuesday. The stock’s 50 day moving average price is $82.53 and its 200-day moving average price is $80.00. Consolidated Edison Inc has a 52 week low of $68.76 and a 52 week high of $85.13. The company has a market cap of $25.86 billion, a PE ratio of 20.47 and a beta of 0.08.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, August 3rd. The utilities provider reported $0.58 EPS for the quarter, missing the Zacks’ consensus estimate of $0.61 by $0.03. Consolidated Edison had a return on equity of 8.59% and a net margin of 10.57%. The company had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.79 billion. During the same period in the prior year, the business posted $0.60 earnings per share. Analysts expect that Consolidated Edison Inc will post $4.09 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Wednesday, August 16th will be issued a dividend of $0.69 per share. The ex-dividend date of this dividend is Monday, August 14th. This represents a $2.76 dividend on an annualized basis and a yield of 3.26%. Consolidated Edison’s dividend payout ratio is presently 66.67%.

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ED has been the subject of several research analyst reports. BMO Capital Markets reiterated a “hold” rating and issued a $80.00 price objective on shares of Consolidated Edison in a research report on Friday, May 5th. Deutsche Bank AG cut Consolidated Edison from a “hold” rating to a “sell” rating and set a $74.00 target price on the stock. in a research note on Monday, May 8th. UBS AG boosted their target price on Consolidated Edison from $72.00 to $75.00 and gave the company a “sell” rating in a research note on Monday, May 8th. Morgan Stanley boosted their target price on Consolidated Edison from $77.00 to $78.00 and gave the company an “underweight” rating in a research note on Monday, May 8th. Finally, Zacks Investment Research upgraded Consolidated Edison from a “hold” rating to a “buy” rating and set a $89.00 target price on the stock in a research note on Friday, May 12th. Five investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $76.96.

In other Consolidated Edison news, CEO Joseph P. Oates sold 1,908 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $83.87, for a total transaction of $160,023.96. Following the sale, the chief executive officer now directly owns 24,017 shares of the company’s stock, valued at $2,014,305.79. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last three months, insiders have acquired 392 shares of company stock worth $32,600. Insiders own 0.20% of the company’s stock.

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).

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Institutional Ownership by Quarter for Consolidated Edison (NYSE:ED)

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