Consolidated Edison Inc $ED Shares Sold by Rockland Trust Co.

Rockland Trust Co. trimmed its stake in shares of Consolidated Edison Inc (NYSE:ED) by 11.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 88,872 shares of the utilities provider’s stock after selling 11,166 shares during the period. Rockland Trust Co.’s holdings in Consolidated Edison were worth $8,933,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Salomon & Ludwin LLC lifted its position in shares of Consolidated Edison by 270.4% in the 3rd quarter. Salomon & Ludwin LLC now owns 300 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 219 shares in the last quarter. Bogart Wealth LLC lifted its holdings in shares of Consolidated Edison by 886.5% in the second quarter. Bogart Wealth LLC now owns 365 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 328 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Consolidated Edison in the third quarter worth $38,000. Webster Bank N. A. grew its holdings in shares of Consolidated Edison by 67.8% during the third quarter. Webster Bank N. A. now owns 495 shares of the utilities provider’s stock valued at $50,000 after buying an additional 200 shares in the last quarter. Finally, True Wealth Design LLC raised its position in Consolidated Edison by 392.1% during the third quarter. True Wealth Design LLC now owns 497 shares of the utilities provider’s stock valued at $50,000 after buying an additional 396 shares during the period. Institutional investors and hedge funds own 66.29% of the company’s stock.

Wall Street Analyst Weigh In

ED has been the topic of a number of research reports. KeyCorp dropped their target price on Consolidated Edison from $90.00 to $86.00 and set an “underweight” rating on the stock in a report on Friday, December 12th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $118.00 price target on shares of Consolidated Edison in a report on Friday, January 23rd. UBS Group raised their price objective on shares of Consolidated Edison from $108.00 to $112.00 and gave the company a “neutral” rating in a research report on Friday, January 23rd. Wells Fargo & Company decreased their target price on shares of Consolidated Edison from $99.00 to $95.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 20th. Finally, Morgan Stanley restated an “underweight” rating and set a $96.00 price target on shares of Consolidated Edison in a report on Wednesday, January 21st. Three research analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $104.20.

Consolidated Edison Stock Performance

NYSE:ED opened at $106.67 on Tuesday. Consolidated Edison Inc has a 1 year low of $93.52 and a 1 year high of $114.87. The firm’s fifty day simple moving average is $101.02 and its 200 day simple moving average is $100.34. The company has a current ratio of 1.08, a quick ratio of 0.97 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $38.50 billion, a PE ratio of 18.65, a PEG ratio of 2.93 and a beta of 0.38.

Consolidated Edison Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Wednesday, February 18th will be paid a $0.8875 dividend. The ex-dividend date is Wednesday, February 18th. This is a boost from Consolidated Edison’s previous quarterly dividend of $0.85. This represents a $3.55 dividend on an annualized basis and a dividend yield of 3.3%. Consolidated Edison’s dividend payout ratio is presently 59.44%.

Insider Buying and Selling at Consolidated Edison

In related news, Director John F. Killian sold 2,276 shares of the stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $96.89, for a total transaction of $220,521.64. Following the completion of the sale, the director owned 38,661 shares in the company, valued at $3,745,864.29. This represents a 5.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.17% of the company’s stock.

Consolidated Edison 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.