California Public Employees Retirement System Sells 210,321 Shares of Consolidated Edison Inc $ED

California Public Employees Retirement System cut its holdings in Consolidated Edison Inc (NYSE:ED) by 15.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. 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 owned approximately 0.31% of Consolidated Edison worth $112,467,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Salomon & Ludwin LLC grew its stake in Consolidated Edison by 270.4% during the third quarter. Salomon & Ludwin LLC now owns 300 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 219 shares during the period. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Consolidated Edison in the third quarter worth approximately $38,000. JFS Wealth Advisors LLC lifted its stake in Consolidated Edison by 36.4% in the third quarter. JFS Wealth Advisors LLC now owns 412 shares of the utilities provider’s stock valued at $41,000 after buying an additional 110 shares during the period. Webster Bank N. A. boosted its holdings in shares of Consolidated Edison by 67.8% during the 3rd quarter. Webster Bank N. A. now owns 495 shares of the utilities provider’s stock worth $50,000 after buying an additional 200 shares in the last quarter. Finally, True Wealth Design LLC boosted its holdings in shares of Consolidated Edison by 392.1% during the 3rd quarter. True Wealth Design LLC now owns 497 shares of the utilities provider’s stock worth $50,000 after buying an additional 396 shares in the last quarter. 66.29% of the stock is owned by institutional investors and hedge funds.

Consolidated Edison Stock Performance

Shares of ED opened at $115.50 on Tuesday. The firm has a market capitalization of $41.72 billion, a P/E ratio of 20.44, a P/E/G ratio of 3.08 and a beta of 0.38. Consolidated Edison Inc has a 52 week low of $94.96 and a 52 week high of $115.75. The stock has a 50 day moving average price of $107.91 and a two-hundred day moving average price of $102.05. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.94 and a current ratio of 1.02.

Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, February 19th. The utilities provider reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.03. The company had revenue of $4 billion for the quarter, compared to analyst estimates of $3.71 billion. Consolidated Edison had a return on equity of 8.50% and a net margin of 11.95%.The company’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter last year, the company earned $0.98 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Equities analysts forecast that Consolidated Edison Inc will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Wednesday, February 18th were paid 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 was Wednesday, February 18th. This represents a $3.55 annualized dividend and a yield of 3.1%. Consolidated Edison’s dividend payout ratio (DPR) is 62.83%.

Insiders Place Their Bets

In other Consolidated Edison news, SVP Deneen L. Donnley sold 1,922 shares of Consolidated Edison stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $113.94, for a total transaction of $218,992.68. Following the transaction, the senior vice president directly owned 32,453 shares of the company’s stock, valued at $3,697,694.82. The trade was a 5.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on ED shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of Consolidated Edison in a research note on Monday, December 29th. TD Cowen increased their target price on shares of Consolidated Edison from $105.00 to $112.00 and gave the stock a “hold” rating in a research note on Tuesday, February 24th. Bank of America restated an “underperform” rating and issued a $104.00 price target on shares of Consolidated Edison in a report on Wednesday, February 25th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $118.00 price objective on shares of Consolidated Edison in a report on Friday, January 23rd. Finally, Wells Fargo & Company cut their price objective on shares of Consolidated Edison from $99.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 20th. Three research analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $108.80.

Consolidated Edison Company 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.