Blair William & Co. IL Sells 1,149 Shares of Consolidated Edison, Inc. (NYSE:ED)

Blair William & Co. IL lessened its holdings in shares of Consolidated Edison, Inc. (NYSE:ED) by 3.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,519 shares of the utilities provider’s stock after selling 1,149 shares during the period. Blair William & Co. IL’s holdings in Consolidated Edison were worth $2,545,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. raised its stake in Consolidated Edison by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 42,455,662 shares of the utilities provider’s stock valued at $3,788,319,000 after buying an additional 488,752 shares during the last quarter. State Street Corp increased its holdings in shares of Consolidated Edison by 1.7% during the third quarter. State Street Corp now owns 23,429,218 shares of the utilities provider’s stock valued at $2,439,684,000 after acquiring an additional 399,034 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Consolidated Edison by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 8,853,788 shares of the utilities provider’s stock worth $919,041,000 after purchasing an additional 107,281 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Consolidated Edison by 3.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,225,989 shares of the utilities provider’s stock valued at $198,625,000 after purchasing an additional 77,323 shares during the last quarter. Finally, Amundi increased its stake in Consolidated Edison by 12.2% during the 4th quarter. Amundi now owns 2,221,729 shares of the utilities provider’s stock valued at $197,795,000 after purchasing an additional 242,243 shares in the last quarter. 66.29% of the stock is owned by hedge funds and other institutional investors.

Consolidated Edison Trading Down 0.5 %

Shares of NYSE:ED opened at $110.07 on Wednesday. The stock has a 50 day moving average of $100.24 and a 200 day moving average of $98.56. The company has a market cap of $38.17 billion, a PE ratio of 21.01, a price-to-earnings-growth ratio of 3.05 and a beta of 0.30. Consolidated Edison, Inc. has a 12-month low of $87.28 and a 12-month high of $111.11. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, February 20th. The utilities provider reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.01. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. The business had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.63 billion. As a group, equities research analysts expect that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Wednesday, February 19th were issued a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 3.09%. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend was Wednesday, February 19th. Consolidated Edison’s payout ratio is 64.89%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. UBS Group upped their target price on shares of Consolidated Edison from $110.00 to $113.00 and gave the stock a “neutral” rating in a research note on Friday, March 21st. Morgan Stanley lifted their target price on Consolidated Edison from $85.00 to $91.00 and gave the stock an “underweight” rating in a report on Thursday, March 20th. Barclays upped their price target on Consolidated Edison from $92.00 to $95.00 and gave the company an “underweight” rating in a report on Monday, February 24th. Mizuho lifted their price objective on Consolidated Edison from $92.00 to $95.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Finally, Scotiabank upped their target price on shares of Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a research note on Monday, February 24th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Consolidated Edison has an average rating of “Hold” and an average target price of $102.40.

Consolidated Edison Profile

Consolidated Edison, Inc, through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States. It offers electric services to approximately 3.7 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 1,530 customers in parts of Manhattan.