Consolidated Edison Inc $ED Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA decreased its holdings in shares of Consolidated Edison Inc (NYSE:ED) by 4.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 212,950 shares of the utilities provider’s stock after selling 9,358 shares during the period. Pictet Asset Management Holding SA owned about 0.06% of Consolidated Edison worth $21,150,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. JPL Wealth Management LLC acquired a new stake in Consolidated Edison in the third quarter worth approximately $26,000. Aventura Private Wealth LLC acquired a new position in Consolidated Edison during the fourth quarter valued at $27,000. Westfuller Advisors LLC acquired a new position in shares of Consolidated Edison in the fourth quarter worth $27,000. Dorato Capital Management acquired a new position in Consolidated Edison in the 4th quarter worth about $28,000. Finally, Salomon & Ludwin LLC boosted its holdings in Consolidated Edison by 270.4% in the third quarter. Salomon & Ludwin LLC now owns 300 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 219 shares in the last quarter. Institutional investors own 66.29% of the company’s stock.

Insider Activity at Consolidated Edison

In other news, SVP Deneen L. Donnley sold 1,922 shares of the business’s stock in a transaction dated 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 in the company, valued at $3,697,694.82. The trade was a 5.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.15% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ED shares. Mizuho set a $118.00 target price on shares of Consolidated Edison in a research report on Monday, February 23rd. Barclays lifted their target price on shares of Consolidated Edison from $100.00 to $110.00 and gave the company an “underweight” rating in a research note on Tuesday, February 24th. KeyCorp lifted their target price on Consolidated Edison from $96.00 to $97.00 and gave the company an “underweight” rating in a research note on Tuesday, April 21st. Weiss Ratings raised Consolidated Edison from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, April 24th. Finally, Citigroup reiterated a “buy” rating on shares of Consolidated Edison in a report on Monday, February 23rd. Three investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat, Consolidated Edison currently has an average rating of “Reduce” and an average target price of $108.50.

Consolidated Edison Trading Up 2.4%

NYSE:ED opened at $111.52 on Friday. Consolidated Edison Inc has a twelve month low of $94.96 and a twelve month high of $116.23. The business has a 50 day moving average price of $111.76 and a two-hundred day moving average price of $105.06. The company has a market cap of $41.08 billion, a P/E ratio of 19.74, a price-to-earnings-growth ratio of 2.77 and a beta of 0.34. The company has a quick ratio of 0.94, a current ratio of 1.02 and a debt-to-equity ratio of 1.06.

Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, February 19th. The utilities provider reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.03. The business had revenue of $4 billion during the quarter, compared to the consensus estimate of $3.71 billion. Consolidated Edison had a net margin of 11.95% and a return on equity of 8.50%. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.98 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. As a group, analysts expect that Consolidated Edison Inc will post 6.08 EPS for the current fiscal year.

Consolidated Edison Dividend Announcement

The company 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 $0.8875 dividend. The ex-dividend date of this dividend is Wednesday, May 13th. This represents a $3.55 annualized dividend and a dividend yield of 3.2%. Consolidated Edison’s dividend payout ratio (DPR) is currently 62.83%.

About Consolidated Edison

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.