Consolidated Edison Inc $ED Shares Purchased by Assetmark Inc.

Assetmark Inc. lifted its holdings in Consolidated Edison Inc (NYSE:ED) by 2.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 671,488 shares of the utilities provider’s stock after purchasing an additional 18,915 shares during the period. Assetmark Inc.’s holdings in Consolidated Edison were worth $67,498,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Salomon & Ludwin LLC grew 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 valued at $30,000 after purchasing an additional 219 shares during the period. Bogart Wealth LLC lifted its position in shares of Consolidated Edison by 886.5% during the 2nd 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. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Consolidated Edison during the 3rd quarter valued at approximately $38,000. True Wealth Design LLC grew its stake in Consolidated Edison by 392.1% in the 3rd quarter. True Wealth Design LLC now owns 497 shares of the utilities provider’s stock valued at $50,000 after acquiring an additional 396 shares during the period. Finally, Webster Bank N. A. increased its holdings in Consolidated Edison by 67.8% in the 3rd quarter. Webster Bank N. A. now owns 495 shares of the utilities provider’s stock worth $50,000 after acquiring an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Up 1.6%

Shares of NYSE:ED opened at $111.65 on Friday. The company has a market capitalization of $40.30 billion, a price-to-earnings ratio of 19.52, a PEG ratio of 2.99 and a beta of 0.38. Consolidated Edison Inc has a 12-month low of $94.49 and a 12-month high of $114.87. The business has a 50-day moving average price of $101.82 and a 200 day moving average price of $100.53. The company has a current ratio of 1.08, a quick ratio of 0.97 and a debt-to-equity ratio of 1.03.

Consolidated Edison Increases Dividend

The business 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. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Wednesday, February 18th. Consolidated Edison’s dividend payout ratio (DPR) is 59.44%.

Insider Activity

In other news, Director John F. Killian sold 2,276 shares of the company’s stock in a transaction that occurred 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 transaction, the director directly owned 38,661 shares in the company, valued at approximately $3,745,864.29. This represents a 5.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

ED has been the subject of a number of research analyst reports. TD Cowen initiated coverage on shares of Consolidated Edison in a research report on Friday, January 9th. They set a “hold” rating and a $105.00 price objective for the company. Royal Bank Of Canada reissued a “sector perform” rating and set a $118.00 target price on shares of Consolidated Edison in a research note on Friday, January 23rd. Morgan Stanley reaffirmed an “underweight” rating and issued a $96.00 price target on shares of Consolidated Edison in a research note on Wednesday, January 21st. JPMorgan Chase & Co. lowered their price objective on Consolidated Edison from $101.00 to $97.00 and set an “underweight” rating on the stock in a report on Friday, December 12th. Finally, Wells Fargo & Company cut their price objective on Consolidated Edison from $99.00 to $95.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 20th. Three 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’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $104.20.

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.