Quantbot Technologies LP Buys New Stake in Consolidated Edison Inc $ED

Quantbot Technologies LP acquired a new stake in Consolidated Edison Inc (NYSE:ED) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 33,486 shares of the utilities provider’s stock, valued at approximately $3,366,000.

Several other hedge funds have also recently bought and sold shares of ED. Golden State Wealth Management LLC grew its position in Consolidated Edison by 13.6% in the 2nd quarter. Golden State Wealth Management LLC now owns 837 shares of the utilities provider’s stock valued at $84,000 after acquiring an additional 100 shares in the last quarter. Certuity LLC boosted its stake in shares of Consolidated Edison by 2.7% in the second quarter. Certuity LLC now owns 3,743 shares of the utilities provider’s stock valued at $376,000 after purchasing an additional 100 shares during the period. Stephens Inc. AR grew its holdings in shares of Consolidated Edison by 0.8% in the third quarter. Stephens Inc. AR now owns 13,791 shares of the utilities provider’s stock valued at $1,386,000 after purchasing an additional 105 shares in the last quarter. Bridgewater Advisors Inc. grew its holdings in shares of Consolidated Edison by 1.7% in the third quarter. Bridgewater Advisors Inc. now owns 6,530 shares of the utilities provider’s stock valued at $618,000 after purchasing an additional 107 shares in the last quarter. Finally, HighPoint Advisor Group LLC increased its stake in Consolidated Edison by 0.7% during the 3rd quarter. HighPoint Advisor Group LLC now owns 14,811 shares of the utilities provider’s stock worth $1,489,000 after buying an additional 110 shares during the period. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Stock Performance

Shares of ED stock opened at $112.15 on Tuesday. The company has a market cap of $40.51 billion, a P/E ratio of 19.85, a PEG ratio of 3.01 and a beta of 0.38. The firm has a fifty day moving average price of $105.26 and a 200 day moving average price of $101.19. The company has a current ratio of 1.02, a quick ratio of 0.94 and a debt-to-equity ratio of 1.06. Consolidated Edison Inc has a 12 month low of $94.96 and a 12 month high of $115.25.

Consolidated Edison (NYSE:ED) last posted its quarterly 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 $3.99 billion for the quarter, compared to analysts’ expectations of $3.71 billion. Consolidated Edison had a return on equity of 8.50% and a net margin of 11.95%.Consolidated Edison’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period last year, the firm earned $0.98 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Sell-side analysts predict that Consolidated Edison Inc will post 5.62 earnings per share for the current fiscal year.

Consolidated Edison Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Wednesday, February 18th will be issued a $0.8875 dividend. This represents a $3.55 dividend on an annualized basis and a yield of 3.2%. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Wednesday, February 18th. Consolidated Edison’s dividend payout ratio is currently 62.83%.

Analyst Ratings Changes

Several equities analysts have commented on ED shares. Weiss Ratings reissued a “buy (b-)” rating on shares of Consolidated Edison in a research report on Monday, December 29th. Bank of America reiterated an “underperform” rating and issued a $104.00 price objective on shares of Consolidated Edison in a research note on Wednesday, February 25th. UBS Group lifted their target price on Consolidated Edison from $108.00 to $112.00 and gave the company a “neutral” rating in a report on Friday, January 23rd. Morgan Stanley restated an “underweight” rating and set a $102.00 price target on shares of Consolidated Edison in a report on Friday, February 20th. Finally, Citigroup reaffirmed a “buy” rating on shares of Consolidated Edison in a research report on Monday, February 23rd. Three investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $107.07.

Insider Buying and Selling

In other Consolidated Edison news, Director John F. Killian sold 2,276 shares of the stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $96.89, for a total value of $220,521.64. Following the transaction, the director directly owned 38,661 shares in the company, valued at $3,745,864.29. This represents a 5.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.17% of the stock is owned by corporate insiders.

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.