Savant Capital LLC Has $2.03 Million Stake in Consolidated Edison Inc $ED

Savant Capital LLC raised its stake in shares of Consolidated Edison Inc (NYSE:ED) by 61.4% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 20,168 shares of the utilities provider’s stock after purchasing an additional 7,675 shares during the quarter. Savant Capital LLC’s holdings in Consolidated Edison were worth $2,027,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Norges Bank acquired a new position in Consolidated Edison during the second quarter valued at approximately $462,218,000. Vanguard Group Inc. grew its holdings in shares of Consolidated Edison by 4.5% in the 2nd quarter. Vanguard Group Inc. now owns 45,040,811 shares of the utilities provider’s stock valued at $4,519,845,000 after buying an additional 1,923,717 shares during the period. Qube Research & Technologies Ltd increased its position in shares of Consolidated Edison by 2,190.9% in the 2nd quarter. Qube Research & Technologies Ltd now owns 978,160 shares of the utilities provider’s stock valued at $98,158,000 after buying an additional 935,463 shares in the last quarter. Rakuten Investment Management Inc. acquired a new stake in Consolidated Edison during the 3rd quarter worth $60,497,000. Finally, Geode Capital Management LLC raised its stake in Consolidated Edison by 6.1% during the 2nd quarter. Geode Capital Management LLC now owns 9,796,782 shares of the utilities provider’s stock worth $979,204,000 after buying an additional 566,358 shares during the period. 66.29% of the stock is owned by institutional investors.

Insider Activity at Consolidated Edison

In other news, Director John F. Killian sold 2,276 shares of the stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $96.89, for a total transaction of $220,521.64. Following the completion of the transaction, the director directly 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 filing with the SEC, which is available at the SEC website. 0.17% of the stock is currently owned by corporate insiders.

Consolidated Edison Price Performance

Shares of ED opened at $107.38 on Monday. The company has a quick ratio of 0.97, a current ratio of 1.08 and a debt-to-equity ratio of 1.03. Consolidated Edison Inc has a twelve month low of $93.52 and a twelve month high of $114.87. The stock has a market capitalization of $38.76 billion, a P/E ratio of 18.77, a P/E/G ratio of 2.93 and a beta of 0.38. The company has a 50 day moving average of $100.84 and a 200-day moving average of $100.31.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, November 6th. The utilities provider reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.14. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.79%. The business had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.22 billion. During the same quarter in the previous year, the firm posted $1.68 earnings per share. As a group, equities research analysts forecast that Consolidated Edison Inc will post 5.62 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Wednesday, February 18th will be given a dividend of $0.8875 per share. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Wednesday, February 18th. This represents a $3.55 annualized dividend and a yield of 3.3%. Consolidated Edison’s payout ratio is presently 59.44%.

Analyst Ratings Changes

Several equities research analysts have issued reports on ED shares. JPMorgan Chase & Co. lowered their price target on Consolidated Edison from $101.00 to $97.00 and set an “underweight” rating for the company in a report on Friday, December 12th. UBS Group increased their target price on Consolidated Edison from $108.00 to $112.00 and gave the stock a “neutral” rating in a research note on Friday, January 23rd. Weiss Ratings restated a “buy (b-)” rating on shares of Consolidated Edison in a report on Monday, December 29th. Wells Fargo & Company reduced their price target on shares of Consolidated Edison from $99.00 to $95.00 and set an “equal weight” rating for the company in a report on Tuesday, January 20th. Finally, TD Cowen initiated coverage on shares of Consolidated Edison in a report on Friday, January 9th. They set a “hold” rating and a $105.00 price objective on the stock. Three research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $104.20.

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.