iA Global Asset Management Inc. Buys Shares of 9,561 Consolidated Edison Inc $ED

by · The Markets Daily

iA Global Asset Management Inc. purchased a new position in shares of Consolidated Edison Inc (NYSE:ED – Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 9,561 shares of the utilities provider’s stock, valued at approximately $961,000.

Several other institutional investors have also recently added to or reduced their stakes in ED. Revolve Wealth Partners LLC increased its position in shares of Consolidated Edison by 13.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 3,721 shares of the utilities provider’s stock worth $332,000 after purchasing an additional 441 shares during the last quarter. Empowered Funds LLC grew its stake in Consolidated Edison by 42.1% in the first quarter. Empowered Funds LLC now owns 8,978 shares of the utilities provider’s stock worth $993,000 after purchasing an additional 2,659 shares in the last quarter. Woodline Partners LP increased its holdings in Consolidated Edison by 40.7% in the first quarter. Woodline Partners LP now owns 29,271 shares of the utilities provider’s stock valued at $3,237,000 after buying an additional 8,468 shares during the last quarter. Fifth Third Bancorp increased its holdings in Consolidated Edison by 2.2% in the second quarter. Fifth Third Bancorp now owns 18,571 shares of the utilities provider’s stock valued at $1,864,000 after buying an additional 393 shares during the last quarter. Finally, Ballentine Partners LLC raised its stake in Consolidated Edison by 8.2% during the second quarter. Ballentine Partners LLC now owns 6,003 shares of the utilities provider’s stock valued at $602,000 after buying an additional 455 shares in the last quarter. 66.29% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Consolidated Edison

In related news, Director John F. Killian sold 2,276 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $96.89, for a total value of $220,521.64. Following the sale, the director directly owned 38,661 shares in the company, valued at $3,745,864.29. This trade represents a 5.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.19% of the stock is owned by company insiders.

Consolidated Edison Stock Up 0.6%

Consolidated Edison stock opened at $103.84 on Friday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.97 and a current ratio of 1.08. Consolidated Edison Inc has a one year low of $90.36 and a one year high of $114.87. The company has a 50-day simple moving average of $99.67 and a 200-day simple moving average of $99.95. The firm has a market capitalization of $37.48 billion, a P/E ratio of 18.15, a P/E/G ratio of 2.83 and a beta of 0.39.

Consolidated Edison (NYSE:ED – Get Free Report) last issued its quarterly earnings data on Thursday, November 6th. The utilities provider reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.14. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.79%. The firm 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 firm posted $1.68 EPS. Consolidated Edison has set its FY 2025 guidance at 5.600-5.700 EPS. As a group, equities analysts expect that Consolidated Edison Inc will post 5.62 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently commented on ED. Morgan Stanley reiterated an “underweight” rating and issued a $96.00 target price on shares of Consolidated Edison in a research report on Wednesday. Barclays decreased their price objective on shares of Consolidated Edison from $101.00 to $100.00 and set an “underweight” rating for the company in a report on Thursday. Royal Bank Of Canada reissued a “sector perform” rating and set a $118.00 target price on shares of Consolidated Edison in a report on Friday. Evercore ISI initiated coverage on shares of Consolidated Edison in a report on Tuesday, October 7th. They issued an “in-line” rating and a $106.00 price target for the company. Finally, UBS Group boosted 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. Three investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Reduce” and an average price target of $104.20.

Check Out Our Latest Stock Report on ED

About Consolidated Edison

(Free Report)

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.

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