Pacer Advisors Inc. Has $3.06 Million Holdings in Consolidated Edison Inc $ED

Pacer Advisors Inc. reduced its stake in Consolidated Edison Inc (NYSE:ED) by 27.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,413 shares of the utilities provider’s stock after selling 11,251 shares during the period. Pacer Advisors Inc.’s holdings in Consolidated Edison were worth $3,057,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Capital Advisors Ltd. LLC boosted its position in shares of 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 in the last quarter. Bogart Wealth LLC boosted its position 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 buying an additional 328 shares in the last quarter. SJS Investment Consulting Inc. grew its position in Consolidated Edison by 1,677.3% during the 2nd quarter. SJS Investment Consulting Inc. now owns 391 shares of the utilities provider’s stock worth $39,000 after acquiring an additional 369 shares during the last quarter. HFM Investment Advisors LLC bought a new position in shares of Consolidated Edison during the first quarter valued at $52,000. Finally, Darwin Wealth Management LLC bought a new stake in shares of Consolidated Edison in the second quarter worth $52,000. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Performance

Shares of ED stock opened at $99.85 on Wednesday. The company has a current ratio of 1.08, a quick ratio of 0.97 and a debt-to-equity ratio of 1.03. The firm has a fifty day simple moving average of $98.85 and a two-hundred day simple moving average of $99.81. Consolidated Edison Inc has a 12 month low of $87.28 and a 12 month high of $114.87. The firm has a market capitalization of $36.04 billion, a PE ratio of 17.46, a price-to-earnings-growth ratio of 2.88 and a beta of 0.37.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, November 6th. The utilities provider reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.14. The company had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.22 billion. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.79%. During the same quarter in the prior year, the business posted $1.68 EPS. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. Analysts forecast that Consolidated Edison Inc will post 5.62 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Wednesday, November 19th were paid a dividend of $0.85 per share. The ex-dividend date was Wednesday, November 19th. This represents a $3.40 annualized dividend and a yield of 3.4%. Consolidated Edison’s dividend payout ratio (DPR) is 59.44%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ED shares. Barclays decreased their price target on Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating for the company in a research note on Monday, November 10th. New Street Research set a $106.00 price target on shares of Consolidated Edison in a research report on Monday, October 6th. Morgan Stanley set a $92.00 price objective on Consolidated Edison in a research report on Tuesday, December 16th. KeyCorp dropped their price objective on Consolidated Edison from $90.00 to $86.00 and set an “underweight” rating on the stock in a research note on Friday, December 12th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Consolidated Edison in a report on Monday. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Consolidated Edison currently has an average rating of “Reduce” and a consensus target price of $102.54.

Insider Transactions at Consolidated Edison

In other news, Director John F. Killian sold 2,276 shares of the company’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $96.89, for a total value of $220,521.64. Following the completion of the sale, the director owned 38,661 shares in the company, valued at $3,745,864.29. This represents a 5.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.17% of the stock is owned by corporate insiders.

Consolidated Edison 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.