Los Angeles Capital Management LLC Sells 63,766 Shares of Consolidated Edison Inc $ED

Los Angeles Capital Management LLC lowered its position in Consolidated Edison Inc (NYSE:ED) by 24.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 195,999 shares of the utilities provider’s stock after selling 63,766 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Consolidated Edison were worth $19,668,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the business. Capital Advisors Ltd. LLC grew its holdings in Consolidated Edison by 53.2% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 314 shares of the utilities provider’s stock worth $32,000 after acquiring an additional 109 shares during the last quarter. Financial Network Wealth Advisors LLC acquired a new position in shares of Consolidated Edison during the first quarter worth $33,000. Cary Street Partners Investment Advisory LLC grew its stake in shares of Consolidated Edison by 64.9% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 305 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 120 shares during the last quarter. Bogart Wealth LLC increased its holdings in Consolidated Edison by 886.5% in the second quarter. Bogart Wealth LLC now owns 365 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 328 shares during the period. Finally, SJS Investment Consulting Inc. increased its holdings in Consolidated Edison by 1,677.3% in the second quarter. SJS Investment Consulting Inc. now owns 391 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 369 shares during the period. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Trading Up 1.5%

NYSE ED opened at $98.43 on Friday. The stock has a market capitalization of $35.50 billion, a P/E ratio of 17.86, a P/E/G ratio of 2.70 and a beta of 0.32. The business has a 50 day simple moving average of $98.74 and a 200 day simple moving average of $101.59. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.10 and a quick ratio of 1.01. Consolidated Edison Inc has a one year low of $87.28 and a one year high of $114.87.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings results on Thursday, November 6th. The utilities provider reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.14. The firm had revenue of $4.25 billion for the quarter, compared to analysts’ expectations of $4.22 billion. Consolidated Edison had a return on equity of 8.56% and a net margin of 11.98%.During the same period in the prior year, the business earned $1.68 EPS. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. Research analysts expect that Consolidated Edison Inc will post 5.62 earnings per share for the current year.

Consolidated Edison Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Wednesday, November 19th will be paid a dividend of $0.85 per share. The ex-dividend date of this dividend is Wednesday, November 19th. This represents a $3.40 annualized dividend and a yield of 3.5%. Consolidated Edison’s dividend payout ratio is currently 59.44%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Evercore ISI assumed coverage on Consolidated Edison in a report on Tuesday, October 7th. They set an “in-line” rating and a $106.00 target price on the stock. KeyCorp lifted their price objective on Consolidated Edison from $88.00 to $90.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 15th. New Street Research set a $106.00 target price on shares of Consolidated Edison in a research report on Monday, October 6th. Wells Fargo & Company upgraded shares of Consolidated Edison to a “hold” rating in a report on Tuesday, October 28th. Finally, Mizuho boosted their price target on shares of Consolidated Edison from $107.00 to $112.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Three equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $105.08.

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.