Consolidated Edison, Inc. (NYSE:ED) Shares Bought by Vinva Investment Management Ltd

by · The Cerbat Gem

Vinva Investment Management Ltd raised its stake in Consolidated Edison, Inc. (NYSE:ED – Free Report) by 128.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,303 shares of the utilities provider’s stock after purchasing an additional 10,290 shares during the period. Vinva Investment Management Ltd’s holdings in Consolidated Edison were worth $1,632,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the business. West Tower Group LLC purchased a new position in Consolidated Edison during the 4th quarter worth approximately $402,000. VSM Wealth Advisory LLC purchased a new position in Consolidated Edison during the 4th quarter worth approximately $210,000. Xponance Inc. grew its stake in Consolidated Edison by 4.3% during the 4th quarter. Xponance Inc. now owns 52,823 shares of the utilities provider’s stock worth $4,713,000 after buying an additional 2,162 shares during the last quarter. Intech Investment Management LLC grew its stake in Consolidated Edison by 35.6% during the 4th quarter. Intech Investment Management LLC now owns 203,633 shares of the utilities provider’s stock worth $18,170,000 after buying an additional 53,425 shares during the last quarter. Finally, Generali Asset Management SPA SGR purchased a new position in Consolidated Edison during the 4th quarter worth approximately $3,445,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Trading Up 1.0 %

Shares of ED opened at $108.54 on Friday. The company has a market capitalization of $37.64 billion, a P/E ratio of 20.71, a P/E/G ratio of 3.05 and a beta of 0.30. Consolidated Edison, Inc. has a one year low of $87.16 and a one year high of $109.78. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01. The stock has a 50-day moving average price of $97.52 and a 200 day moving average price of $98.39.

Consolidated Edison (NYSE:ED – Get Free Report) last released its earnings results on Thursday, February 20th. The utilities provider reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.01. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. The company had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.63 billion. Sell-side analysts forecast 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 was paid on Friday, March 14th. Investors of record on Wednesday, February 19th were issued a $0.85 dividend. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. The ex-dividend date was Wednesday, February 19th. This represents a $3.40 annualized dividend and a dividend yield of 3.13%. Consolidated Edison’s dividend payout ratio (DPR) is 64.89%.

Wall Street Analyst Weigh In

ED has been the topic of a number of research reports. UBS Group raised their price target on Consolidated Edison from $105.00 to $110.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 25th. Scotiabank raised their price target on Consolidated Edison from $100.00 to $101.00 and gave the stock a “sector perform” rating in a research note on Monday, February 24th. Evercore ISI downgraded Consolidated Edison from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 21st. Mizuho boosted their target price on Consolidated Edison from $92.00 to $95.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Finally, Morgan Stanley boosted their target price on Consolidated Edison from $85.00 to $91.00 and gave the company an “underweight” rating in a report on Thursday. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $102.10.

Get Our Latest Report on Consolidated Edison

About Consolidated Edison

(Free Report)

Consolidated Edison, Inc, through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States. It offers electric services to approximately 3.7 million customers in New York City and Westchester County; gas to approximately 1.1 million customers in Manhattan, the Bronx, parts of Queens, and Westchester County; and steam to approximately 1,530 customers in parts of Manhattan.

Further Reading

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