Los Angeles Capital Management LLC Sells 7,448 Shares of Consolidated Edison, Inc. (NYSE:ED)

Los Angeles Capital Management LLC lessened its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 2.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 264,862 shares of the utilities provider’s stock after selling 7,448 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Consolidated Edison were worth $23,634,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of ED. Capital Performance Advisors LLP bought a new stake in Consolidated Edison during the 3rd quarter valued at $27,000. AlphaMark Advisors LLC bought a new stake in Consolidated Edison during the 4th quarter valued at $27,000. Ashton Thomas Securities LLC purchased a new stake in shares of Consolidated Edison during the 3rd quarter valued at $30,000. Centricity Wealth Management LLC purchased a new stake in shares of Consolidated Edison during the 4th quarter valued at $39,000. Finally, CGC Financial Services LLC lifted its holdings in shares of Consolidated Edison by 64.0% during the 4th quarter. CGC Financial Services LLC now owns 546 shares of the utilities provider’s stock valued at $49,000 after purchasing an additional 213 shares during the last quarter. Institutional investors own 66.29% of the company’s stock.

Analyst Ratings Changes

ED has been the subject of several analyst reports. Mizuho increased their price objective on Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Barclays increased their price objective on Consolidated Edison from $92.00 to $95.00 and gave the company an “underweight” rating in a report on Monday. UBS Group increased their price objective on Consolidated Edison from $105.00 to $110.00 and gave the company a “neutral” rating in a report on Tuesday. Evercore ISI lowered Consolidated Edison from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 21st. Finally, Scotiabank increased their price objective on Consolidated Edison from $100.00 to $101.00 and gave the company a “sector perform” rating in a report on Monday. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $101.50.

Consolidated Edison Stock Performance

Shares of ED stock opened at $101.04 on Wednesday. The firm has a market capitalization of $35.00 billion, a price-to-earnings ratio of 19.28, a price-to-earnings-growth ratio of 3.05 and a beta of 0.39. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.01 and a quick ratio of 0.93. The business has a fifty day moving average of $92.46 and a 200 day moving average of $97.95. Consolidated Edison, Inc. has a 1 year low of $85.85 and a 1 year high of $107.75.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings results on Thursday, February 20th. The utilities provider reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.01. The company had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.63 billion. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. As a group, research analysts expect that Consolidated Edison, Inc. will post 5.62 earnings per share for the current year.

Consolidated Edison Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th will be given a dividend of $0.85 per share. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. This represents a $3.40 annualized dividend and a yield of 3.37%. The ex-dividend date is Wednesday, February 19th. Consolidated Edison’s dividend payout ratio (DPR) is currently 64.89%.

Consolidated Edison 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.