Legal & General Group Plc Buys 52,061 Shares of Consolidated Edison Inc $ED

Legal & General Group Plc boosted its holdings in Consolidated Edison Inc (NYSE:ED) by 1.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,351,530 shares of the utilities provider’s stock after acquiring an additional 52,061 shares during the quarter. Legal & General Group Plc owned 1.21% of Consolidated Edison worth $437,416,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. raised its position in Consolidated Edison by 13.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 72,819 shares of the utilities provider’s stock valued at $7,320,000 after buying an additional 8,562 shares during the last quarter. Bryce Point Capital LLC bought a new position in shares of Consolidated Edison during the 3rd quarter worth approximately $556,000. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Consolidated Edison by 3.0% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,028,686 shares of the utilities provider’s stock worth $103,404,000 after acquiring an additional 29,606 shares in the last quarter. Nuance Investments LLC acquired a new stake in shares of Consolidated Edison in the third quarter valued at approximately $4,017,000. Finally, Caprock Group LLC acquired a new stake in shares of Consolidated Edison in the third quarter valued at approximately $2,586,000. 66.29% of the stock is currently owned by institutional investors.

Insider Activity at Consolidated Edison

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

Consolidated Edison Trading Down 0.4%

NYSE:ED opened at $111.30 on Wednesday. The company has a current ratio of 1.02, a quick ratio of 0.94 and a debt-to-equity ratio of 1.06. The firm has a fifty day simple moving average of $106.76 and a two-hundred day simple moving average of $101.64. The stock 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 12 month low of $94.96 and a 12 month high of $115.25.

Consolidated Edison (NYSE:ED) last released its quarterly earnings data on Thursday, February 19th. The utilities provider reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.03. Consolidated Edison had a net margin of 11.95% and a return on equity of 8.50%. The firm had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.71 billion. During the same quarter in the prior year, the company posted $0.98 earnings per share. The business’s revenue was up 8.9% on a year-over-year basis. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. Analysts expect that Consolidated Edison Inc will post 5.62 EPS for the current fiscal year.

Consolidated Edison Increases Dividend

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

Wall Street Analyst Weigh In

ED has been the subject of several analyst reports. Mizuho set a $118.00 target price on shares of Consolidated Edison in a research note on Monday, February 23rd. Royal Bank Of Canada reiterated a “sector perform” rating and set a $118.00 target price on shares of Consolidated Edison in a research note on Friday, January 23rd. Scotiabank lifted their price objective on shares of Consolidated Edison from $113.00 to $117.00 and gave the stock a “sector perform” rating in a research note on Friday, February 20th. UBS Group upped their target price on Consolidated Edison from $108.00 to $112.00 and gave the company a “neutral” rating in a research report on Friday, January 23rd. Finally, Barclays increased their price target 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. Three equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, Consolidated Edison has a consensus rating of “Reduce” and a consensus price target of $107.73.

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.