Robeco Institutional Asset Management B.V. boosted its position in Consolidated Edison Inc. (NYSE:ED) by 4.7% during the second quarter, Holdings Channel reports. The firm owned 1,188,314 shares of the company’s stock after buying an additional 52,875 shares during the period. Consolidated Edison comprises approximately 0.7% of Robeco Institutional Asset Management B.V.’s holdings, making the stock its 24th largest position. Robeco Institutional Asset Management B.V.’s holdings in Consolidated Edison were worth $95,585,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC raised its stake in Consolidated Edison by 87.1% in the second quarter. Acadian Asset Management LLC now owns 924,134 shares of the company’s stock worth $74,340,000 after buying an additional 430,081 shares in the last quarter. BlackRock Fund Advisors raised its stake in Consolidated Edison by 5.5% in the first quarter. BlackRock Fund Advisors now owns 7,370,925 shares of the company’s stock worth $564,760,000 after buying an additional 383,782 shares in the last quarter. Renaissance Technologies LLC raised its stake in Consolidated Edison by 66.8% in the first quarter. Renaissance Technologies LLC now owns 825,300 shares of the company’s stock worth $63,234,000 after buying an additional 330,600 shares in the last quarter. Tobam raised its stake in Consolidated Edison by 47.7% in the first quarter. Tobam now owns 1,020,705 shares of the company’s stock worth $78,206,000 after buying an additional 329,419 shares in the last quarter. Finally, Royal Bank of Canada raised its stake in Consolidated Edison by 45.6% in the first quarter. Royal Bank of Canada now owns 761,325 shares of the company’s stock worth $58,333,000 after buying an additional 238,503 shares in the last quarter. Institutional investors own 54.76% of the company’s stock.
Shares of Consolidated Edison Inc. (NYSE:ED) traded down 1.61% during midday trading on Friday, hitting $75.30. 2,978,930 shares of the stock traded hands. The firm has a 50-day moving average price of $76.10 and a 200 day moving average price of $76.33. Consolidated Edison Inc. has a one year low of $60.30 and a one year high of $81.88. The stock has a market cap of $22.92 billion and a price-to-earnings ratio of 19.51.
Consolidated Edison (NYSE:ED) last posted its earnings results on Thursday, August 4th. The company reported $0.60 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.69 by $0.09. Consolidated Edison had a net margin of 9.47% and a return on equity of 8.88%. During the same quarter last year, the business posted $0.78 EPS. Analysts anticipate that Consolidated Edison Inc. will post $3.97 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 17th were paid a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 3.56%. The ex-dividend date of this dividend was Monday, August 15th. Consolidated Edison’s dividend payout ratio (DPR) is 69.25%.
A number of analysts have recently weighed in on ED shares. Zacks Investment Research raised Consolidated Edison from a “sell” rating to a “hold” rating in a research report on Tuesday, June 14th. Morgan Stanley set a $69.00 target price on Consolidated Edison and gave the company a “sell” rating in a report on Wednesday, September 21st. Jefferies Group increased their target price on Consolidated Edison to $80.00 and gave the company a “hold” rating in a report on Thursday, July 14th. Vetr lowered Consolidated Edison from a “hold” rating to a “sell” rating and set a $73.97 target price on the stock. in a report on Tuesday, September 6th. Finally, Mizuho increased their target price on Consolidated Edison from $72.00 to $75.00 and gave the company a “neutral” rating in a report on Monday, August 8th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $74.83.
Consolidated Edison Company Profile
Consolidated Edison, Inc (Con Edison) is a holding company. The Company operates through its subsidiaries, which include Consolidated Edison Company of New York, Inc (CECONY), Orange and Rockland Utilities, Inc (O&R) and Con Edison Transmission, Inc It owns competitive energy businesses. The Company also owns Con Edison Transmission, Inc (Con Edison Transmission), which invests in electric and gas transmission projects through its subsidiaries, Consolidated Edison Transmission, LLC (CET Electric) and Con Edison Gas Midstream, LLC (CET Gas).
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