California Public Employees Retirement System Cuts Holdings in Consolidated Edison Inc $ED

California Public Employees Retirement System trimmed its position in Consolidated Edison Inc (NYSE:ED) by 15.8% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 1,118,853 shares of the utilities provider’s stock after selling 210,321 shares during the period. California Public Employees Retirement System’s holdings in Consolidated Edison were worth $112,467,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Consolidated Edison by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 45,174,933 shares of the utilities provider’s stock worth $4,540,984,000 after buying an additional 134,122 shares in the last quarter. Lazard Asset Management LLC grew its holdings in shares of Consolidated Edison by 121,543.9% in the third quarter. Lazard Asset Management LLC now owns 5,960,553 shares of the utilities provider’s stock valued at $599,155,000 after acquiring an additional 5,955,653 shares in the last quarter. Norges Bank purchased a new stake in shares of Consolidated Edison during the second quarter valued at approximately $462,218,000. Legal & General Group Plc lifted its holdings in Consolidated Edison by 1.2% during the third quarter. Legal & General Group Plc now owns 4,351,530 shares of the utilities provider’s stock worth $437,416,000 after acquiring an additional 52,061 shares during the period. Finally, Invesco Ltd. lifted its holdings in Consolidated Edison by 5.3% during the third quarter. Invesco Ltd. now owns 3,583,423 shares of the utilities provider’s stock worth $360,206,000 after acquiring an additional 179,278 shares during the period. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ED. Morgan Stanley restated an “underweight” rating and issued a $102.00 price objective on shares of Consolidated Edison in a research note on Friday, February 20th. Citigroup reiterated a “buy” rating on shares of Consolidated Edison in a research note on Monday, February 23rd. TD Cowen increased their price target on shares of Consolidated Edison from $105.00 to $112.00 and gave the company a “hold” rating in a research report on Tuesday, February 24th. Scotiabank raised their price objective on shares of Consolidated Edison from $113.00 to $117.00 and gave the stock a “sector perform” rating in a report on Friday, February 20th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Consolidated Edison in a research report on Monday, December 29th. Three equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat, Consolidated Edison presently has a consensus rating of “Reduce” and an average price target of $108.80.

Insider Buying and Selling

In related news, SVP Deneen L. Donnley sold 1,922 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $113.94, for a total value of $218,992.68. Following the completion of the transaction, the senior vice president directly owned 32,453 shares of the company’s stock, valued at approximately $3,697,694.82. This trade represents a 5.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.19% of the company’s stock.

Consolidated Edison Stock Up 0.5%

Shares of NYSE ED opened at $115.50 on Tuesday. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.02 and a quick ratio of 0.94. The stock has a market capitalization of $41.72 billion, a PE ratio of 20.44, a P/E/G ratio of 3.08 and a beta of 0.38. Consolidated Edison Inc has a one year low of $94.96 and a one year high of $115.75. The business’s fifty day moving average price is $107.91 and its 200-day moving average price is $102.05.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, February 19th. The utilities provider reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.03. The business had revenue of $4 billion for the quarter, compared to analysts’ expectations of $3.71 billion. Consolidated Edison had a return on equity of 8.50% and a net margin of 11.95%.The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.98 EPS. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. On average, equities research analysts anticipate that Consolidated Edison Inc will post 5.62 EPS for the current year.

Consolidated Edison Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Wednesday, February 18th were paid a dividend of $0.8875 per share. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Wednesday, February 18th. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.85. Consolidated Edison’s dividend payout ratio 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.