Voya Investment Management LLC Decreases Stock Holdings in Consolidated Edison Inc $ED

Voya Investment Management LLC lowered its position in shares of Consolidated Edison Inc (NYSE:ED) by 22.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,829 shares of the utilities provider’s stock after selling 23,377 shares during the period. Voya Investment Management LLC’s holdings in Consolidated Edison were worth $8,024,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Consolidated Edison during the 2nd quarter worth about $462,218,000. ATLAS Infrastructure Partners UK Ltd. purchased a new stake in Consolidated Edison during the first quarter worth approximately $254,205,000. Vanguard Group Inc. boosted its holdings in Consolidated Edison by 4.5% in the second quarter. Vanguard Group Inc. now owns 45,040,811 shares of the utilities provider’s stock valued at $4,519,845,000 after purchasing an additional 1,923,717 shares in the last quarter. Qube Research & Technologies Ltd increased its stake in Consolidated Edison by 2,190.9% in the second quarter. Qube Research & Technologies Ltd now owns 978,160 shares of the utilities provider’s stock valued at $98,158,000 after purchasing an additional 935,463 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its holdings in Consolidated Edison by 103.7% during the second quarter. Robeco Institutional Asset Management B.V. now owns 1,327,643 shares of the utilities provider’s stock worth $133,229,000 after purchasing an additional 675,852 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Consolidated Edison news, Director John F. Killian sold 2,276 shares of the business’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $96.89, for a total value of $220,521.64. Following the transaction, the director directly owned 38,661 shares of the company’s stock, valued at approximately $3,745,864.29. The trade was a 5.56% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.17% of the stock is currently owned by company insiders.

Consolidated Edison Price Performance

Shares of ED opened at $98.93 on Wednesday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.97 and a current ratio of 1.08. Consolidated Edison Inc has a fifty-two week low of $87.28 and a fifty-two week high of $114.87. The firm has a 50-day simple moving average of $99.05 and a 200-day simple moving average of $99.92. The company has a market capitalization of $35.71 billion, a price-to-earnings ratio of 17.30, a price-to-earnings-growth ratio of 2.85 and a beta of 0.37.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, November 6th. The utilities provider reported $1.90 EPS for the quarter, beating the consensus estimate of $1.76 by $0.14. Consolidated Edison had a return on equity of 8.79% and a net margin of 12.27%.The firm had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.22 billion. During the same period in the prior year, the business earned $1.68 EPS. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. On average, equities research analysts anticipate that Consolidated Edison Inc will post 5.62 earnings per share for the current year.

Consolidated Edison Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Wednesday, November 19th were issued a dividend of $0.85 per share. The ex-dividend date of this dividend was Wednesday, November 19th. This represents a $3.40 annualized dividend and a dividend yield of 3.4%. Consolidated Edison’s dividend payout ratio (DPR) is currently 59.44%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ED. New Street Research set a $106.00 target price on shares of Consolidated Edison in a report on Monday, October 6th. KeyCorp reduced their price target on shares of Consolidated Edison from $90.00 to $86.00 and set an “underweight” rating for the company in a research report on Friday, December 12th. UBS Group dropped their price objective on Consolidated Edison from $112.00 to $104.00 and set a “neutral” rating on the stock in a report on Wednesday, December 17th. Morgan Stanley set a $92.00 target price on Consolidated Edison in a report on Tuesday, December 16th. Finally, Barclays decreased their target price on Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating for the company in a research report on Monday, November 10th. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $102.54.

Consolidated Edison Company Profile

Consolidated Edison, Inc, commonly known as Con Edison, is an investor-owned energy company that primarily delivers electricity, natural gas and steam to customers in the New York metropolitan area. Its regulated utility operations include the distribution and transmission of electric power, the distribution of natural gas, and the operation of one of the largest district steam systems in the United States, serving commercial, institutional and residential customers in New York City and nearby counties.

The company operates through regulated utility subsidiaries that serve urban and suburban service territories, together with non-utility businesses that develop, own and manage energy infrastructure and clean energy projects.