Los Angeles Capital Management LLC Acquires 20,972 Shares of Consolidated Edison Inc $ED

Los Angeles Capital Management LLC raised its holdings in Consolidated Edison Inc (NYSE:ED) by 9.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 253,230 shares of the utilities provider’s stock after acquiring an additional 20,972 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Consolidated Edison were worth $24,865,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. JPL Wealth Management LLC bought a new position in Consolidated Edison in the third quarter valued at approximately $26,000. Basepoint Wealth LLC bought a new position in Consolidated Edison in the fourth quarter valued at approximately $26,000. Aventura Private Wealth LLC bought a new position in Consolidated Edison in the fourth quarter valued at approximately $27,000. Westfuller Advisors LLC bought a new position in Consolidated Edison in the fourth quarter valued at approximately $27,000. Finally, Dorato Capital Management bought a new position in Consolidated Edison in the fourth quarter valued at approximately $28,000. 66.29% of the stock is owned by institutional investors.

Consolidated Edison Trading Up 0.0%

ED opened at $106.31 on Monday. The firm’s fifty day moving average is $109.20 and its two-hundred day moving average is $106.26. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.09 and a current ratio of 1.19. The firm has a market cap of $39.18 billion, a PE ratio of 17.90, a price-to-earnings-growth ratio of 2.70 and a beta of 0.27. Consolidated Edison Inc has a twelve month low of $94.96 and a twelve month high of $116.23.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, May 7th. The utilities provider reported $2.18 earnings per share for the quarter, missing the consensus estimate of $2.28 by ($0.10). The firm had revenue of $5.10 billion during the quarter, compared to analyst estimates of $5.22 billion. Consolidated Edison had a return on equity of 8.33% and a net margin of 12.52%.During the same quarter last year, the business posted $2.26 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Equities research analysts anticipate that Consolidated Edison Inc will post 6.09 EPS for the current year.

Consolidated Edison Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Wednesday, May 13th will be given a dividend of $0.8875 per share. The ex-dividend date of this dividend is Wednesday, May 13th. This represents a $3.55 annualized dividend and a dividend yield of 3.3%. Consolidated Edison’s dividend payout ratio is currently 59.76%.

Insider Activity

In other news, SVP Deneen L. Donnley sold 1,922 shares of the stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $113.94, for a total transaction of $218,992.68. Following the completion of the sale, the senior vice president owned 32,453 shares of the company’s stock, valued at $3,697,694.82. This represents a 5.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.15% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ED has been the topic of a number of recent research reports. Wells Fargo & Company set a $98.00 price objective on shares of Consolidated Edison in a research note on Tuesday, April 21st. Mizuho reaffirmed a “neutral” rating and issued a $105.00 price objective on shares of Consolidated Edison in a research note on Tuesday, June 2nd. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $105.00 price objective on shares of Consolidated Edison in a research note on Thursday, May 14th. Weiss Ratings raised shares of Consolidated Edison from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, April 24th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Consolidated Edison from $107.00 to $113.00 and gave the company an “underweight” rating in a research note on Thursday, March 12th. Two equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and six have issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $107.79.

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.