J. Safra Sarasin Holding AG Purchases Shares of 13,257 Consolidated Edison Inc $ED

J. Safra Sarasin Holding AG acquired a new position in Consolidated Edison Inc (NYSE:ED) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 13,257 shares of the utilities provider’s stock, valued at approximately $1,333,000.

A number of other institutional investors and hedge funds have also modified their holdings of ED. Vanguard Group Inc. lifted its position 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 worth $4,519,845,000 after purchasing an additional 1,923,717 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Consolidated Edison by 6.1% during the 2nd quarter. Geode Capital Management LLC now owns 9,796,782 shares of the utilities provider’s stock worth $979,204,000 after acquiring an additional 566,358 shares during the period. Norges Bank bought a new position in shares of Consolidated Edison during the 2nd quarter worth about $462,218,000. ATLAS Infrastructure Partners UK Ltd. boosted its position in shares of Consolidated Edison by 4.8% during the 2nd quarter. ATLAS Infrastructure Partners UK Ltd. now owns 2,409,288 shares of the utilities provider’s stock valued at $241,772,000 after acquiring an additional 110,666 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Consolidated Edison by 4.6% in the second quarter. Charles Schwab Investment Management Inc. now owns 2,376,237 shares of the utilities provider’s stock valued at $238,455,000 after acquiring an additional 104,643 shares during the period. 66.29% of the stock is currently owned by institutional investors.

Consolidated Edison Trading Down 0.2%

Shares of ED opened at $105.11 on Thursday. The stock’s fifty day simple moving average is $99.83 and its 200-day simple moving average is $100.04. The firm has a market capitalization of $37.94 billion, a PE ratio of 18.38, a price-to-earnings-growth ratio of 2.87 and a beta of 0.39. Consolidated Edison Inc has a 12-month low of $92.29 and a 12-month high of $114.87. The company has a quick ratio of 0.97, a current ratio of 1.08 and a debt-to-equity ratio of 1.03.

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

Consolidated Edison Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Wednesday, February 18th will be paid a $0.8875 dividend. The ex-dividend date of this dividend is Wednesday, February 18th. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.85. This represents a $3.55 dividend on an annualized basis and a yield of 3.4%. Consolidated Edison’s payout ratio is 59.44%.

Insider Buying and Selling

In other Consolidated Edison news, Director John F. Killian sold 2,276 shares of Consolidated Edison stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $96.89, for a total transaction of $220,521.64. Following the completion of the sale, the director 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on ED shares. JPMorgan Chase & Co. cut their price target on shares of Consolidated Edison from $101.00 to $97.00 and set an “underweight” rating for the company in a research note on Friday, December 12th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Consolidated Edison in a research note on Monday, December 29th. UBS Group upped their price target on Consolidated Edison from $108.00 to $112.00 and gave the company a “neutral” rating in a research report on Friday, January 23rd. TD Cowen started coverage on shares of Consolidated Edison in a report on Friday, January 9th. They issued a “hold” rating and a $105.00 target price on the stock. Finally, KeyCorp dropped their target price 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. Three equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat, Consolidated Edison currently has a consensus rating of “Reduce” and an average price target of $104.20.

About Consolidated Edison

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.