Raab & Moskowitz Asset Management LLC decreased its holdings in Consolidated Edison, Inc. (NYSE:ED) by 6.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,879 shares of the utilities provider’s stock after selling 426 shares during the quarter. Raab & Moskowitz Asset Management LLC’s holdings in Consolidated Edison were worth $439,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. JJJ Advisors Inc. lifted its position in Consolidated Edison by 103.2% during the first quarter. JJJ Advisors Inc. now owns 565 shares of the utilities provider’s stock valued at $42,000 after buying an additional 287 shares during the period. WASHINGTON TRUST Co lifted its position in Consolidated Edison by 14.0% during the first quarter. WASHINGTON TRUST Co now owns 9,674 shares of the utilities provider’s stock valued at $724,000 after buying an additional 1,186 shares during the period. Cypress Wealth Services LLC purchased a new position in Consolidated Edison during the first quarter valued at $200,000. J.W. Cole Advisors Inc. lifted its position in Consolidated Edison by 3.7% during the first quarter. J.W. Cole Advisors Inc. now owns 6,987 shares of the utilities provider’s stock valued at $523,000 after buying an additional 249 shares during the period. Finally, Carmichael Hill & Associates Inc. lifted its position in Consolidated Edison by 4.6% during the first quarter. Carmichael Hill & Associates Inc. now owns 3,431 shares of the utilities provider’s stock valued at $257,000 after buying an additional 150 shares during the period. 62.44% of the stock is owned by institutional investors.

NYSE ED traded up $0.28 during trading hours on Tuesday, reaching $78.03. The company’s stock had a trading volume of 8,278 shares, compared to its average volume of 2,603,701. The firm’s 50-day moving average price is $75.29 and its 200-day moving average price is $73.84. The company has a quick ratio of 0.54, a current ratio of 0.59 and a debt-to-equity ratio of 1.03. Consolidated Edison, Inc. has a 1 year low of $65.56 and a 1 year high of $83.92. The company has a market capitalization of $26.74 billion, a price-to-earnings ratio of 19.25, a PEG ratio of 7.80 and a beta of 0.11.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Wednesday, February 17th. The utilities provider reported $0.75 EPS for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.01). Consolidated Edison had a return on equity of 7.77% and a net margin of 11.06%. The business had revenue of $2.96 billion during the quarter, compared to analysts’ expectations of $3.06 billion. During the same period in the prior year, the firm posted $0.87 earnings per share. Equities research analysts anticipate that Consolidated Edison, Inc. will post 4.2 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 15th. Investors of record on Wednesday, May 19th will be issued a $0.775 dividend. The ex-dividend date of this dividend is Tuesday, May 18th. This represents a $3.10 dividend on an annualized basis and a yield of 3.97%. Consolidated Edison’s dividend payout ratio is presently 70.94%.

Several equities analysts have recently issued reports on the company. Morgan Stanley lifted their price target on Consolidated Edison from $67.00 to $73.00 and gave the stock an “underweight” rating in a research report on Monday, April 26th. Evercore ISI lowered Consolidated Edison from an “in-line” rating to an “underperform” rating in a research report on Thursday, January 21st. TheStreet raised Consolidated Edison from a “c” rating to a “b-” rating in a research report on Thursday, April 22nd. Mizuho reduced their price objective on Consolidated Edison from $71.00 to $68.00 and set a “neutral” rating for the company in a report on Friday, January 22nd. They noted that the move was a valuation call. Finally, Royal Bank of Canada reduced their price objective on Consolidated Edison from $80.00 to $77.00 and set a “sector perform” rating for the company in a report on Friday, January 22nd. Six research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $76.33.

Consolidated Edison Company Profile

Consolidated Edison, Inc, through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States. The company offers electric services to approximately 3.5 million customers in New York City and Westchester County; gas to approximately 1.1 million customers in Manhattan, the Bronx, parts of Queens, and Westchester County; and steam to approximately 1,576 customers in parts of Manhattan.

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

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