Arbejdsmarkedets Tillaegspension Has $26.10 Million Holdings in Consolidated Edison Inc $ED

Arbejdsmarkedets Tillaegspension trimmed its holdings in shares of Consolidated Edison Inc (NYSE:ED) by 5.0% in the first quarter, Holdings Channel.com reports. The fund owned 230,584 shares of the utilities provider’s stock after selling 12,152 shares during the quarter. Consolidated Edison accounts for approximately 0.6% of Arbejdsmarkedets Tillaegspension’s portfolio, making the stock its 16th largest position. Arbejdsmarkedets Tillaegspension’s holdings in Consolidated Edison were worth $26,097,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GW&K Investment Management LLC grew its stake in Consolidated Edison by 28.5% during the fourth quarter. GW&K Investment Management LLC now owns 419 shares of the utilities provider’s stock worth $42,000 after buying an additional 93 shares during the last quarter. Meadowbrook Wealth Management LLC raised its position in Consolidated Edison by 2.2% in the 4th quarter. Meadowbrook Wealth Management LLC now owns 4,687 shares of the utilities provider’s stock valued at $466,000 after purchasing an additional 100 shares during the last quarter. bLong Financial LLC boosted its stake in Consolidated Edison by 1.3% in the fourth quarter. bLong Financial LLC now owns 7,775 shares of the utilities provider’s stock worth $772,000 after purchasing an additional 100 shares in the last quarter. Sachetta LLC boosted its stake in Consolidated Edison by 72.9% in the first quarter. Sachetta LLC now owns 242 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 102 shares in the last quarter. Finally, Bridgewater Advisors Inc. raised its stake in shares of Consolidated Edison by 1.6% in the fourth quarter. Bridgewater Advisors Inc. now owns 6,635 shares of the utilities provider’s stock worth $689,000 after acquiring an additional 105 shares during the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Morgan Stanley reissued an “underweight” rating on shares of Consolidated Edison in a report on Wednesday, June 24th. The Goldman Sachs Group restated a “sell” rating and set a $105.00 target price on shares of Consolidated Edison in a research report on Thursday, May 14th. KeyCorp upped 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. Evercore set a $116.00 price target on shares of Consolidated Edison in a research report on Monday, May 11th. Finally, Weiss Ratings upgraded shares of Consolidated Edison from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th. Two analysts have rated the stock with a Buy rating, seven have given a Hold rating and six have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $108.07.

Consolidated Edison Stock Performance

Shares of Consolidated Edison stock opened at $111.24 on Monday. Consolidated Edison Inc has a 1-year low of $94.96 and a 1-year high of $116.23. The company has a current ratio of 1.19, a quick ratio of 1.09 and a debt-to-equity ratio of 1.00. The company has a 50 day moving average of $108.12 and a 200-day moving average of $108.21. The company has a market cap of $41.00 billion, a PE ratio of 18.73, a price-to-earnings-growth ratio of 2.82 and a beta of 0.27.

Consolidated Edison Dividend Announcement

The firm also recently declared 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 dividend yield of 3.2%. The ex-dividend date was Wednesday, May 13th. Consolidated Edison’s dividend payout ratio is presently 59.76%.

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.