Magellan Asset Management Ltd Invests $53.71 Million in Exelon Corporation $EXC

Magellan Asset Management Ltd acquired a new position in shares of Exelon Corporation (NASDAQ:EXC) during the 2nd quarter, Holdings Channel reports. The firm acquired 1,152,083 shares of the company’s stock, valued at approximately $53,710,000. Exelon accounts for about 1.2% of Magellan Asset Management Ltd’s investment portfolio, making the stock its 28th biggest position.

Other institutional investors have also modified their holdings of the company. Caxton Associates LLP bought a new stake in shares of Exelon during the 1st quarter valued at about $286,000. Woodline Partners LP lifted its holdings in shares of Exelon by 40.7% in the 1st quarter. Woodline Partners LP now owns 84,925 shares of the company’s stock worth $3,913,000 after purchasing an additional 24,580 shares during the last quarter. Jump Financial LLC acquired a new position in Exelon during the 2nd quarter valued at approximately $2,448,000. Gamco Investors INC. ET AL bought a new position in Exelon during the 2nd quarter worth $645,000. Finally, Treasurer of the State of North Carolina grew its stake in Exelon by 3.1% during the 2nd quarter. Treasurer of the State of North Carolina now owns 472,175 shares of the company’s stock worth $20,502,000 after buying an additional 14,240 shares during the last quarter. Institutional investors and hedge funds own 80.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Weiss Ratings downgraded shares of Exelon from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, July 9th. TD Cowen lowered their target price on Exelon from $51.00 to $49.00 and set a “hold” rating on the stock in a report on Friday, May 15th. KeyCorp cut their price objective on Exelon from $43.00 to $41.00 and set an “underweight” rating for the company in a research report on Wednesday, May 13th. Morgan Stanley dropped their target price on shares of Exelon from $55.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Friday. Finally, Truist Financial dropped their price target on Exelon from $50.00 to $48.00 and set a “hold” rating on the stock in a research report on Thursday, August 13th. Four investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $50.07.

Exelon Stock Performance

Shares of EXC opened at $43.78 on Monday. The firm has a market cap of $45.19 billion, a price-to-earnings ratio of 16.04, a price-to-earnings-growth ratio of 2.65 and a beta of 0.31. The company’s fifty day moving average is $46.25 and its 200-day moving average is $46.70. The company has a quick ratio of 0.99, a current ratio of 1.09 and a debt-to-equity ratio of 1.71. Exelon Corporation has a 12 month low of $42.58 and a 12 month high of $50.65.

Exelon (NASDAQ:EXC) last posted its earnings results on Thursday, July 30th. The company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.01). The company had revenue of $5.97 billion for the quarter, compared to the consensus estimate of $5.44 billion. Exelon had a net margin of 10.99% and a return on equity of 9.81%. Exelon’s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter last year, the business earned $0.39 earnings per share. Exelon has set its FY 2026 guidance at 2.810-2.910 EPS. Equities analysts expect that Exelon Corporation will post 2.86 EPS for the current fiscal year.

Exelon Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, September 4th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $1.68 dividend on an annualized basis and a yield of 3.8%. Exelon’s payout ratio is currently 61.54%.

Exelon Company Profile

Exelon Corporation (NASDAQ: EXC) is a Chicago-based energy company that operates primarily as a regulated electric and natural gas utility holding company. The company’s businesses focus on the delivery of electricity and related services to residential, commercial and industrial customers, as well as investments in grid modernization, customer energy solutions and demand-side programs. Exelon’s operations emphasize reliable service delivery, infrastructure maintenance and regulatory compliance across its utility footprint.

Formed in 2000 through the merger of Unicom and PECO Energy, Exelon historically combined generation and regulated utility businesses.