Consolidated Edison, Inc. (NYSE:ED) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. trimmed its position in Consolidated Edison, Inc. (NYSE:ED) by 23.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 515,233 shares of the utilities provider’s stock after selling 156,978 shares during the quarter. Victory Capital Management Inc. owned about 0.15% of Consolidated Edison worth $53,651,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Pathway Financial Advisers LLC lifted its holdings in Consolidated Edison by 10,302.6% in the third quarter. Pathway Financial Advisers LLC now owns 24,446 shares of the utilities provider’s stock valued at $2,546,000 after acquiring an additional 24,211 shares during the last quarter. Mizuho Markets Americas LLC grew its holdings in shares of Consolidated Edison by 121.1% during the 1st quarter. Mizuho Markets Americas LLC now owns 113,675 shares of the utilities provider’s stock worth $10,323,000 after purchasing an additional 62,260 shares during the period. Plato Investment Management Ltd increased its position in shares of Consolidated Edison by 17,683.9% during the 1st quarter. Plato Investment Management Ltd now owns 9,959 shares of the utilities provider’s stock worth $904,000 after purchasing an additional 9,903 shares during the last quarter. Cetera Advisors LLC raised its holdings in Consolidated Edison by 74.5% in the 1st quarter. Cetera Advisors LLC now owns 17,150 shares of the utilities provider’s stock valued at $1,557,000 after buying an additional 7,324 shares during the period. Finally, Acadian Asset Management LLC lifted its position in Consolidated Edison by 162.1% in the first quarter. Acadian Asset Management LLC now owns 176,279 shares of the utilities provider’s stock valued at $15,999,000 after buying an additional 109,035 shares during the last quarter. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Consolidated Edison Trading Down 0.2 %

NYSE ED opened at $95.25 on Friday. Consolidated Edison, Inc. has a 52 week low of $85.85 and a 52 week high of $107.75. The firm has a 50 day moving average of $102.99 and a two-hundred day moving average of $98.00. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07. The stock has a market capitalization of $33.00 billion, a PE ratio of 17.94, a price-to-earnings-growth ratio of 3.26 and a beta of 0.36.

Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, November 7th. The utilities provider reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.56 by $0.12. The firm had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.02 billion. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. As a group, research analysts expect that Consolidated Edison, Inc. will post 5.33 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Wednesday, November 13th will be paid a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 3.49%. The ex-dividend date of this dividend is Wednesday, November 13th. Consolidated Edison’s payout ratio is 62.52%.

Analyst Ratings Changes

ED has been the subject of a number of recent analyst reports. Barclays dropped their price target on shares of Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating for the company in a research report on Friday, November 8th. Scotiabank boosted their target price on Consolidated Edison from $85.00 to $90.00 and gave the company a “sector underperform” rating in a research report on Tuesday, August 20th. Guggenheim raised their price target on Consolidated Edison from $88.00 to $91.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Evercore ISI raised Consolidated Edison from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 8th. Finally, Morgan Stanley lifted their target price on Consolidated Edison from $82.00 to $87.00 and gave the company an “underweight” rating in a research report on Wednesday, September 25th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $98.35.

Consolidated Edison Company Profile

Consolidated Edison, Inc, through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States. It offers electric services to approximately 3.7 million customers in New York City and Westchester County; gas to approximately 1.1 million customers in Manhattan, the Bronx, parts of Queens, and Westchester County; and steam to approximately 1,530 customers in parts of Manhattan.