NewEdge Wealth LLC Sells 5,898 Shares of Consolidated Edison Inc $ED

NewEdge Wealth LLC cut its stake in shares of Consolidated Edison Inc (NYSE:ED) by 47.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,595 shares of the utilities provider’s stock after selling 5,898 shares during the quarter. NewEdge Wealth LLC’s holdings in Consolidated Edison were worth $655,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Denali Advisors LLC bought a new stake in shares of Consolidated Edison during the 4th quarter valued at approximately $457,000. Drucker Wealth 3.0 LLC bought a new stake in shares of Consolidated Edison during the 4th quarter valued at approximately $250,000. Crossmark Global Holdings Inc. grew its holdings in shares of Consolidated Edison by 6.8% during the 4th quarter. Crossmark Global Holdings Inc. now owns 28,417 shares of the utilities provider’s stock valued at $2,822,000 after purchasing an additional 1,816 shares during the last quarter. Ethic Inc. grew its holdings in shares of Consolidated Edison by 6.6% during the 4th quarter. Ethic Inc. now owns 153,808 shares of the utilities provider’s stock valued at $15,276,000 after purchasing an additional 9,577 shares during the last quarter. Finally, Ballast Inc. grew its holdings in shares of Consolidated Edison by 2.5% during the 4th quarter. Ballast Inc. now owns 16,349 shares of the utilities provider’s stock valued at $1,624,000 after purchasing an additional 401 shares during the last quarter. 66.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ED has been the topic of several research reports. Scotiabank lifted their price target on shares of Consolidated Edison from $113.00 to $117.00 and gave the company a “sector perform” rating in a report on Friday, February 20th. KeyCorp lifted their target price on shares of Consolidated Edison from $96.00 to $97.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 21st. UBS Group lifted their target price on shares of Consolidated Edison from $108.00 to $112.00 and gave the stock a “neutral” rating in a research report on Friday, January 23rd. The Goldman Sachs Group reiterated a “sell” rating and set a $105.00 target price on shares of Consolidated Edison in a research report on Thursday. Finally, TD Cowen lifted their target price on shares of Consolidated Edison from $105.00 to $112.00 and gave the stock a “hold” rating in a research report on Tuesday, February 24th. Three investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and six have assigned a Sell rating to the company’s stock. According to MarketBeat, Consolidated Edison presently has an average rating of “Reduce” and a consensus target price of $109.14.

Insider Transactions at Consolidated Edison

In related 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 transaction, the senior vice president directly 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 can be accessed through the SEC website. 0.15% of the stock is currently owned by corporate insiders.

Consolidated Edison Stock Down 1.6%

Shares of NYSE ED opened at $105.37 on Friday. The firm has a market cap of $38.83 billion, a PE ratio of 17.74, a P/E/G ratio of 2.72 and a beta of 0.29. Consolidated Edison Inc has a 12-month low of $94.96 and a 12-month high of $116.23. The company’s fifty day simple moving average is $110.88 and its 200 day simple moving average is $105.42. The company has a quick ratio of 1.09, a current ratio of 1.19 and a debt-to-equity ratio of 1.00.

Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, May 7th. The utilities provider reported $2.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.28 by ($0.10). The company had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $5.22 billion. Consolidated Edison had a return on equity of 8.33% and a net margin of 12.52%.During the same period in the prior year, the company earned $2.26 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. As a group, sell-side analysts forecast that Consolidated Edison Inc will post 6.09 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Wednesday, May 13th will be paid 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 yield of 3.4%. Consolidated Edison’s dividend payout ratio is currently 59.76%.

Consolidated Edison Company Profile

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.