Arizona State Retirement System Sells 7,473 Shares of Consolidated Edison Inc $ED

Arizona State Retirement System reduced its holdings in shares of Consolidated Edison Inc (NYSE:ED) by 7.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 98,866 shares of the utilities provider’s stock after selling 7,473 shares during the quarter. Arizona State Retirement System’s holdings in Consolidated Edison were worth $9,819,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. grew its stake 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 acquiring an additional 134,122 shares in the last quarter. State Street Corp grew its stake in shares of Consolidated Edison by 0.3% during the 3rd quarter. State Street Corp now owns 24,050,572 shares of the utilities provider’s stock worth $2,417,563,000 after acquiring an additional 63,346 shares in the last quarter. Lazard Asset Management LLC grew its stake in shares of Consolidated Edison by 121,543.9% during the 3rd quarter. Lazard Asset Management LLC now owns 5,960,553 shares of the utilities provider’s stock worth $599,155,000 after acquiring an additional 5,955,653 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Consolidated Edison by 1.2% during the 3rd 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 in the last quarter. Finally, Northern Trust Corp grew its stake in shares of Consolidated Edison by 1.4% during the 3rd quarter. Northern Trust Corp now owns 4,128,793 shares of the utilities provider’s stock worth $415,026,000 after acquiring an additional 57,365 shares in the last quarter. 66.29% of the stock is owned by institutional investors.

Insider Transactions at Consolidated Edison

In other news, SVP Deneen L. Donnley sold 1,922 shares of Consolidated Edison stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $113.94, for a total transaction of $218,992.68. Following the completion of the sale, the senior vice president 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.19% of the stock is owned by corporate insiders.

Consolidated Edison Trading Down 1.1%

Shares of Consolidated Edison stock opened at $109.09 on Friday. The business has a fifty day simple moving average of $112.00 and a two-hundred day simple moving average of $104.85. Consolidated Edison Inc has a 1 year low of $94.96 and a 1 year high of $116.23. The company has a market capitalization of $40.19 billion, a price-to-earnings ratio of 19.31, a P/E/G ratio of 2.80 and a beta of 0.34. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.02 and a quick ratio of 0.94.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings results on Thursday, February 19th. The utilities provider reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.03. Consolidated Edison had a return on equity of 8.50% and a net margin of 11.95%.The business had revenue of $4 billion during the quarter, compared to the consensus estimate of $3.71 billion. During the same quarter last year, the firm posted $0.98 EPS. The company’s quarterly revenue was up 8.9% on a year-over-year basis. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Research analysts forecast that Consolidated Edison Inc will post 6.08 EPS for the current year.

Consolidated Edison Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Wednesday, May 13th will be issued a dividend of $0.8875 per share. The ex-dividend date of this dividend is Wednesday, May 13th. This represents a $3.55 annualized dividend and a yield of 3.3%. Consolidated Edison’s dividend payout ratio (DPR) is currently 62.83%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on ED shares. Wells Fargo & Company set a $98.00 price objective on Consolidated Edison in a report on Tuesday. Weiss Ratings raised Consolidated Edison from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday. UBS Group increased their price objective on Consolidated Edison from $108.00 to $112.00 and gave the company a “neutral” rating in a report on Friday, January 23rd. Bank of America reissued an “underperform” rating and issued a $104.00 price objective on shares of Consolidated Edison in a report on Wednesday, February 25th. Finally, Morgan Stanley cut their price objective on Consolidated Edison from $106.00 to $105.00 and set an “overweight” rating for the company in a report on Tuesday. Three analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $108.50.

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.