Vest Financial LLC Boosts Holdings in Consolidated Edison Inc $ED

Vest Financial LLC grew its holdings in shares of Consolidated Edison Inc (NYSE:ED) by 13.2% in the third quarter, HoldingsChannel reports. The fund owned 537,306 shares of the utilities provider’s stock after purchasing an additional 62,583 shares during the quarter. Vest Financial LLC’s holdings in Consolidated Edison were worth $54,010,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in ED. Norges Bank purchased a new position in Consolidated Edison during the second quarter valued at approximately $462,218,000. Vanguard Group Inc. raised its position in shares of Consolidated Edison by 4.5% during the 2nd quarter. Vanguard Group Inc. now owns 45,040,811 shares of the utilities provider’s stock valued at $4,519,845,000 after purchasing an additional 1,923,717 shares during the period. Qube Research & Technologies Ltd lifted its stake in shares of Consolidated Edison by 2,190.9% during the 2nd quarter. Qube Research & Technologies Ltd now owns 978,160 shares of the utilities provider’s stock valued at $98,158,000 after buying an additional 935,463 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in shares of Consolidated Edison by 103.7% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 1,327,643 shares of the utilities provider’s stock valued at $133,229,000 after buying an additional 675,852 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Consolidated Edison by 6.1% in the 2nd quarter. Geode Capital Management LLC now owns 9,796,782 shares of the utilities provider’s stock worth $979,204,000 after buying an additional 566,358 shares during the period. 66.29% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director John F. Killian sold 2,276 shares of Consolidated Edison stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $96.89, for a total transaction of $220,521.64. Following the completion of the sale, the director directly owned 38,661 shares in the company, valued at approximately $3,745,864.29. The trade was a 5.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.17% of the company’s stock.

Consolidated Edison Stock Up 0.8%

NYSE ED opened at $104.63 on Wednesday. The stock has a 50 day moving average price of $99.50 and a 200-day moving average price of $99.87. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.97 and a current ratio of 1.08. The company has a market capitalization of $37.77 billion, a P/E ratio of 18.37, a P/E/G ratio of 2.83 and a beta of 0.39. Consolidated Edison Inc has a one year low of $90.35 and a one year high of $114.87.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, November 6th. The utilities provider reported $1.90 EPS for the quarter, topping the consensus estimate of $1.76 by $0.14. Consolidated Edison had a return on equity of 8.79% and a net margin of 12.27%.The company had revenue of $4.53 billion for the quarter, compared to the consensus estimate of $4.22 billion. During the same period last year, the business posted $1.68 EPS. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. As a group, equities analysts predict that Consolidated Edison Inc will post 5.62 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Cowen began coverage on Consolidated Edison in a research report on Thursday, January 8th. They issued a “hold” rating on the stock. JPMorgan Chase & Co. lowered their price target on Consolidated Edison from $101.00 to $97.00 and set an “underweight” rating on the stock in a report on Friday, December 12th. Barclays dropped their price target on Consolidated Edison from $105.00 to $101.00 and set an “underweight” rating for the company in a research note on Monday, November 10th. UBS Group lifted their price objective on shares of Consolidated Edison from $104.00 to $105.00 and gave the company a “neutral” rating in a research report on Wednesday, January 7th. Finally, TD Cowen assumed coverage on shares of Consolidated Edison in a research note on Friday, January 9th. They set a “hold” rating and a $105.00 target price for the company. Three analysts have rated the stock with a Buy rating, eight have issued a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $103.27.

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.