Cape Cod Five Cents Savings Bank decreased its position in shares of Consolidated Edison Inc (NYSE:ED) by 4.8% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,303 shares of the utilities provider’s stock after selling 321 shares during the period. Cape Cod Five Cents Savings Bank’s holdings in Consolidated Edison were worth $509,000 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 stock. BlackRock Inc. boosted its position in shares of Consolidated Edison by 1,771.1% in the first quarter. BlackRock Inc. now owns 24,104,499 shares of the utilities provider’s stock worth $1,871,955,000 after buying an additional 22,816,233 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Consolidated Edison by 3.5% in the first quarter. Vanguard Group Inc. now owns 21,304,464 shares of the utilities provider’s stock worth $1,654,504,000 after buying an additional 725,857 shares in the last quarter. State Street Corp boosted its position in shares of Consolidated Edison by 0.4% in the first quarter. State Street Corp now owns 19,962,044 shares of the utilities provider’s stock worth $1,550,245,000 after buying an additional 77,044 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Consolidated Edison by 34.1% in the first quarter. Bank of New York Mellon Corp now owns 3,478,494 shares of the utilities provider’s stock worth $270,138,000 after buying an additional 884,788 shares in the last quarter. Finally, APG Asset Management N.V. boosted its position in shares of Consolidated Edison by 1.3% in the first quarter. APG Asset Management N.V. now owns 3,121,650 shares of the utilities provider’s stock worth $242,427,000 after buying an additional 39,537 shares in the last quarter. Hedge funds and other institutional investors own 55.88% of the company’s stock.
Consolidated Edison Inc (ED) opened at 81.21 on Wednesday. The company’s 50-day moving average is $82.48 and its 200 day moving average is $78.23. The firm has a market cap of $24.80 billion, a PE ratio of 18.70 and a beta of 0.08. Consolidated Edison Inc has a one year low of $68.76 and a one year high of $85.13.
Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, May 4th. The utilities provider reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.08. Consolidated Edison had a net margin of 10.90% and a return on equity of 9.05%. The business had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.05 billion. During the same quarter last year, the firm posted $1.18 EPS. Equities analysts anticipate that Consolidated Edison Inc will post $4.09 earnings per share for the current year.
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Several research analysts have recently weighed in on the stock. UBS AG upped their price target on shares of Consolidated Edison from $72.00 to $75.00 and gave the company a “sell” rating in a report on Monday, May 8th. BidaskClub cut shares of Consolidated Edison from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 24th. Morgan Stanley upped their price target on shares of Consolidated Edison from $77.00 to $78.00 and gave the company an “underweight” rating in a report on Monday, May 8th. Zacks Investment Research upgraded shares of Consolidated Edison from a “hold” rating to a “buy” rating and set a $89.00 price target for the company in a report on Thursday, May 18th. Finally, Deutsche Bank AG cut shares of Consolidated Edison from a “hold” rating to a “sell” rating and set a $74.00 price target for the company. in a report on Monday, May 8th. Seven equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $76.82.
In other news, Director Linda S. Sanford acquired 900 shares of the business’s stock in a transaction on Wednesday, May 17th. The shares were purchased at an average cost of $79.74 per share, with a total value of $71,766.00. Following the acquisition, the director now directly owns 8,748 shares of the company’s stock, valued at $697,565.52. The transaction was disclosed in a document filed with the SEC, which is available through this link. In the last three months, insiders purchased 1,240 shares of company stock valued at $100,090. 0.20% of the stock is currently owned by insiders.
About Consolidated Edison
Consolidated Edison, Inc (Con Edison) is a holding company. The Company operates through its subsidiaries, which include Consolidated Edison Company of New York, Inc (CECONY), Orange and Rockland Utilities, Inc (O&R), Con Edison Clean Energy Businesses, Inc (the Clean Energy Businesses) and Con Edison Transmission, Inc (Con Edison Transmission).
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