Consolidated Edison Inc (ED) Position Trimmed by American Century Companies Inc.
American Century Companies Inc. reduced its position in Consolidated Edison Inc (NYSE:ED) by 96.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,684 shares of the utilities provider’s stock after selling 1,061,671 shares during the quarter. American Century Companies Inc.’s holdings in Consolidated Edison were worth $3,288,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of ED. Intersect Capital LLC bought a new position in Consolidated Edison in the 2nd quarter worth about $649,000. Geneva Advisors LLC grew its stake in Consolidated Edison by 70.4% in the 2nd quarter. Geneva Advisors LLC now owns 9,014 shares of the utilities provider’s stock worth $729,000 after acquiring an additional 3,724 shares in the last quarter. Stanley Laman Group Ltd. bought a new position in Consolidated Edison in the 2nd quarter worth about $2,393,000. RFG Advisory Group LLC bought a new position in Consolidated Edison in the 2nd quarter worth about $204,000. Finally, Aviva PLC grew its stake in Consolidated Edison by 2.8% in the 2nd quarter. Aviva PLC now owns 192,923 shares of the utilities provider’s stock worth $15,590,000 after acquiring an additional 5,260 shares in the last quarter. 55.09% of the stock is currently owned by institutional investors.
In other Consolidated Edison news, CEO Joseph P. Oates sold 1,908 shares of the business’s stock in a transaction that occurred 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 owns 24,017 shares in the company, valued at approximately $2,014,305.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have acquired a total of 471 shares of company stock valued at $39,202 in the last quarter. 0.20% of the stock is currently owned by company insiders.
A number of equities analysts have commented on the stock. Zacks Investment Research downgraded shares of Consolidated Edison from a “hold” rating to a “sell” rating in a research note on Wednesday, July 5th. BidaskClub downgraded shares of Consolidated Edison from a “buy” rating to a “hold” rating in a research note on Saturday, July 1st. Finally, Morgan Stanley upped their target price on shares of Consolidated Edison from $75.00 to $78.00 and gave the stock an “underweight” rating in a research note on Thursday, August 10th. Five research 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’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $77.27.
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Shares of Consolidated Edison Inc (ED) opened at 84.21 on Wednesday. The firm has a market capitalization of $25.74 billion, a P/E ratio of 20.38 and a beta of 0.09. The firm has a 50-day moving average of $83.55 and a 200 day moving average of $80.82. Consolidated Edison Inc has a 52 week low of $68.76 and a 52 week high of $86.16.
Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.58 EPS for the quarter, missing the 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 firm had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.79 billion. During the same quarter last year, the firm earned $0.60 EPS. On average, equities research analysts expect that Consolidated Edison Inc will post $4.09 EPS for the current fiscal year.
The company 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. This represents a $2.76 annualized dividend and a yield of 3.28%. The ex-dividend date of this dividend is Monday, August 14th. Consolidated Edison’s dividend payout ratio (DPR) is presently 66.67%.
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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