Russell Investments Group Ltd. Purchases 126,304 Shares of Consolidated Edison Inc $ED

Russell Investments Group Ltd. grew its holdings in shares of Consolidated Edison Inc (NYSE:ED) by 26.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 610,599 shares of the utilities provider’s stock after acquiring an additional 126,304 shares during the period. Russell Investments Group Ltd. owned 0.17% of Consolidated Edison worth $61,350,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in ED. Salomon & Ludwin LLC grew its stake in Consolidated Edison by 270.4% during the third quarter. Salomon & Ludwin LLC now owns 300 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 219 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Consolidated Edison in the third quarter valued at approximately $38,000. JFS Wealth Advisors LLC boosted its holdings in shares of Consolidated Edison by 36.4% during the 3rd quarter. JFS Wealth Advisors LLC now owns 412 shares of the utilities provider’s stock worth $41,000 after buying an additional 110 shares in the last quarter. True Wealth Design LLC boosted its holdings in shares of Consolidated Edison by 392.1% during the 3rd quarter. True Wealth Design LLC now owns 497 shares of the utilities provider’s stock worth $50,000 after buying an additional 396 shares in the last quarter. Finally, Webster Bank N. A. grew its position in shares of Consolidated Edison by 67.8% during the 3rd quarter. Webster Bank N. A. now owns 495 shares of the utilities provider’s stock worth $50,000 after buying an additional 200 shares during the period. 66.29% of the stock is owned by institutional investors.

Consolidated Edison Trading Down 0.4%

Shares of ED stock opened at $111.30 on Wednesday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.94 and a current ratio of 1.02. The company has a market capitalization of $40.21 billion, a price-to-earnings ratio of 19.70, a PEG ratio of 3.00 and a beta of 0.38. Consolidated Edison Inc has a 52-week low of $94.96 and a 52-week high of $115.25. The company has a 50-day simple moving average of $106.76 and a two-hundred day simple moving average of $101.64.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, February 19th. The utilities provider reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.03. The business had revenue of $3.99 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the company posted $0.98 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Research analysts anticipate that Consolidated Edison Inc will post 5.62 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

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

Insider Buying and Selling

In other Consolidated Edison news, Director John F. Killian sold 2,276 shares of the business’s stock in a transaction dated 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. The trade was a 5.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

ED has been the subject of several research analyst reports. KeyCorp lifted their price target on shares of Consolidated Edison from $86.00 to $96.00 and gave the company an “underweight” rating in a research note on Wednesday, March 4th. Barclays increased their price objective on shares of Consolidated Edison from $100.00 to $110.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 24th. Royal Bank Of Canada restated a “sector perform” rating and issued a $118.00 target price on shares of Consolidated Edison in a research note on Friday, January 23rd. Citigroup reaffirmed a “buy” rating on shares of Consolidated Edison in a research report on Monday, February 23rd. Finally, JPMorgan Chase & Co. dropped their price target on Consolidated Edison from $101.00 to $97.00 and set an “underweight” rating on the stock in a research note on Friday, December 12th. Three research analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $107.73.

About Consolidated Edison

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.