IFM Investors Pty Ltd Sells 15,939 Shares of Consolidated Edison Inc $ED

IFM Investors Pty Ltd lowered its holdings in Consolidated Edison Inc (NYSE:ED) by 14.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 93,207 shares of the utilities provider’s stock after selling 15,939 shares during the quarter. IFM Investors Pty Ltd’s holdings in Consolidated Edison were worth $10,549,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Basepoint Wealth LLC bought a new position in shares of Consolidated Edison in the fourth quarter valued at $26,000. JPL Wealth Management LLC bought a new stake in shares of Consolidated Edison during the third quarter worth about $26,000. Aventura Private Wealth LLC bought a new stake in shares of Consolidated Edison during the fourth quarter worth about $27,000. Westfuller Advisors LLC bought a new stake in shares of Consolidated Edison during the fourth quarter worth about $27,000. Finally, Dorato Capital Management acquired a new stake in shares of Consolidated Edison in the 4th quarter worth about $28,000. Institutional investors own 66.29% of the company’s stock.

Consolidated Edison Price Performance

Shares of NYSE ED opened at $111.07 on Thursday. The stock has a fifty day simple moving average of $107.65 and a two-hundred day simple moving average of $107.55. Consolidated Edison Inc has a 1-year low of $94.96 and a 1-year high of $116.23. The firm has a market cap of $40.93 billion, a price-to-earnings ratio of 18.70, a price-to-earnings-growth ratio of 2.81 and a beta of 0.27. The company has a current ratio of 1.19, a quick ratio of 1.09 and a debt-to-equity ratio of 1.00.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, May 7th. The utilities provider reported $2.18 EPS for the quarter, missing the consensus estimate of $2.28 by ($0.10). Consolidated Edison had a net margin of 12.52% and a return on equity of 8.33%. The business had revenue of $5.09 billion for the quarter, compared to analysts’ expectations of $5.22 billion. During the same period last year, the company earned $2.26 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Analysts anticipate that Consolidated Edison Inc will post 6.09 earnings per share for the current year.

Consolidated Edison Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Wednesday, May 13th were issued a dividend of $0.8875 per share. This represents a $3.55 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend was Wednesday, May 13th. Consolidated Edison’s payout ratio is presently 59.76%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. KeyCorp lifted their price target on Consolidated Edison from $96.00 to $97.00 and gave the company an “underweight” rating in a research note on Tuesday, April 21st. JPMorgan Chase & Co. raised their target price on Consolidated Edison from $107.00 to $113.00 and gave the company an “underweight” rating in a report on Thursday, March 12th. Morgan Stanley reaffirmed an “underweight” rating on shares of Consolidated Edison in a research report on Wednesday, June 24th. The Goldman Sachs Group reiterated a “sell” rating and set a $105.00 price target on shares of Consolidated Edison in a report on Thursday, May 14th. Finally, Argus set a $112.00 price target on Consolidated Edison in a research report on Tuesday, June 23rd. Two analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and six have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $108.07.

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.