Schroder Investment Management Group Cuts Stake in Consolidated Edison, Inc. (ED)
Schroder Investment Management Group decreased its holdings in Consolidated Edison, Inc. (NYSE:ED) by 60.4% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 18,918 shares of the utilities provider’s stock after selling 28,820 shares during the period. Schroder Investment Management Group’s holdings in Consolidated Edison were worth $1,527,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in the company. WFG Advisors LP boosted its position in Consolidated Edison by 19.6% during the 2nd quarter. WFG Advisors LP now owns 1,308 shares of the utilities provider’s stock valued at $106,000 after buying an additional 214 shares during the period. AllSquare Wealth Management LLC purchased a new stake in Consolidated Edison during the 3rd quarter valued at $113,000. Dupont Capital Management Corp purchased a new stake in Consolidated Edison during the 2nd quarter valued at $191,000. RFG Advisory Group LLC purchased a new stake in Consolidated Edison during the 2nd quarter valued at $204,000. Finally, Exencial Wealth Advisors LLC purchased a new stake in Consolidated Edison during the 2nd quarter valued at $204,000. 55.69% of the stock is owned by institutional investors.
Consolidated Edison, Inc. (NYSE ED) opened at $87.59 on Friday. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.79 and a quick ratio of 0.70. Consolidated Edison, Inc. has a 1-year low of $70.75 and a 1-year high of $89.70. The company has a market cap of $27,279.85, a price-to-earnings ratio of 21.94, a price-to-earnings-growth ratio of 7.17 and a beta of 0.10.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 15th will be paid a $0.69 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $2.76 annualized dividend and a dividend yield of 3.15%. Consolidated Edison’s payout ratio is 69.00%.
Several brokerages have weighed in on ED. Evercore ISI cut shares of Consolidated Edison from an “in-line” rating to an “underperform” rating and set a $74.00 price target for the company. in a research report on Tuesday, September 26th. Zacks Investment Research upgraded shares of Consolidated Edison from a “hold” rating to a “buy” rating and set a $90.00 price objective for the company in a report on Monday, October 2nd. ValuEngine upgraded shares of Consolidated Edison from a “hold” rating to a “buy” rating in a report on Friday, November 10th. BidaskClub upgraded shares of Consolidated Edison from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. Finally, Bank of America started coverage on shares of Consolidated Edison in a report on Tuesday, October 24th. They issued a “buy” rating and a $92.00 price objective for the company. Five equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. Consolidated Edison currently has an average rating of “Hold” and a consensus price target of $80.32.
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Consolidated Edison 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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