Consolidated Edison, Inc. (NYSE:ED) Shares Sold by Baird Financial Group Inc.

Baird Financial Group Inc. lowered its stake in Consolidated Edison, Inc. (NYSE:ED) by 40.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,860 shares of the utilities provider’s stock after selling 10,209 shares during the quarter. Baird Financial Group Inc.’s holdings in Consolidated Edison were worth $1,326,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of ED. Barclays PLC lifted its position in shares of Consolidated Edison by 30.1% during the third quarter. Barclays PLC now owns 1,231,924 shares of the utilities provider’s stock worth $128,279,000 after purchasing an additional 285,115 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Consolidated Edison by 4.0% during the third quarter. JPMorgan Chase & Co. now owns 2,145,128 shares of the utilities provider’s stock worth $223,373,000 after purchasing an additional 82,985 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of Consolidated Edison by 2.5% during the fourth quarter. Harbor Capital Advisors Inc. now owns 8,707 shares of the utilities provider’s stock worth $777,000 after purchasing an additional 213 shares in the last quarter. Czech National Bank lifted its position in shares of Consolidated Edison by 6.6% during the fourth quarter. Czech National Bank now owns 75,109 shares of the utilities provider’s stock worth $6,702,000 after purchasing an additional 4,659 shares in the last quarter. Finally, Brookstone Capital Management lifted its position in shares of Consolidated Edison by 1.9% during the fourth quarter. Brookstone Capital Management now owns 24,642 shares of the utilities provider’s stock worth $2,199,000 after purchasing an additional 469 shares in the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. UBS Group raised their target price on shares of Consolidated Edison from $110.00 to $113.00 and gave the company a “neutral” rating in a report on Friday, March 21st. Scotiabank raised their target price on shares of Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a report on Monday, February 24th. Barclays raised their target price on shares of Consolidated Edison from $100.00 to $101.00 and gave the company an “underweight” rating in a report on Monday, May 5th. Mizuho raised their target price on shares of Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Finally, Morgan Stanley set a $94.00 target price on shares of Consolidated Edison and gave the company an “overweight” rating in a report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, seven have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $105.80.

Consolidated Edison Stock Down 2.9%

ED opened at $100.51 on Wednesday. The business’s 50-day simple moving average is $108.62 and its 200-day simple moving average is $99.85. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. Consolidated Edison, Inc. has a one year low of $87.28 and a one year high of $114.87. The stock has a market capitalization of $36.21 billion, a P/E ratio of 19.18, a price-to-earnings-growth ratio of 3.05 and a beta of 0.29.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, May 1st. The utilities provider reported $2.25 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.05). Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. The firm had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same quarter last year, the firm posted $2.15 EPS. Analysts anticipate that Consolidated Edison, Inc. will post 5.62 EPS for the current year.

Consolidated Edison Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Wednesday, May 14th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date of this dividend is Wednesday, May 14th. Consolidated Edison’s dividend payout ratio (DPR) is currently 62.85%.

Consolidated Edison Company 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.