Consolidated Edison, Inc. (NYSE:ED) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. reduced its stake in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) by 23.4% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 515,233 shares of the utilities provider's stock after selling 156,978 shares during the period. Victory Capital Management Inc. owned about 0.15% of Consolidated Edison worth $53,651,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new position in Consolidated Edison in the third quarter valued at approximately $27,000. Ashton Thomas Securities LLC bought a new position in shares of Consolidated Edison during the third quarter valued at about $30,000. Beacon Capital Management LLC boosted its holdings in shares of Consolidated Edison by 2,307.7% during the first quarter. Beacon Capital Management LLC now owns 313 shares of the utilities provider's stock worth $28,000 after purchasing an additional 300 shares during the period. Pathway Financial Advisers LLC purchased a new stake in shares of Consolidated Edison during the first quarter worth about $33,000. Finally, TruNorth Capital Management LLC purchased a new stake in Consolidated Edison in the second quarter worth about $33,000. 66.29% of the stock is owned by institutional investors.

Consolidated Edison Stock Performance

NYSE ED traded up $0.88 during trading on Friday, reaching $96.12. The company's stock had a trading volume of 800,744 shares, compared to its average volume of 1,863,833. 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 firm has a market cap of $33.30 billion, a price-to-earnings ratio of 18.04, a P/E/G ratio of 3.21 and a beta of 0.36. Consolidated Edison, Inc. has a twelve month low of $85.85 and a twelve month high of $107.75. The business's fifty day moving average price is $102.81 and its 200-day moving average price is $97.98.

Consolidated Edison (NYSE:ED - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The utilities provider reported $1.68 EPS for the quarter, topping analysts' consensus estimates of $1.56 by $0.12. The firm had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.02 billion. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. As a group, analysts anticipate that Consolidated Edison, Inc. will post 5.33 EPS for the current fiscal year.

Consolidated Edison Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Wednesday, November 13th will be paid a dividend of $0.83 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $3.32 annualized dividend and a yield of 3.45%. Consolidated Edison's dividend payout ratio is currently 62.52%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ED shares. Wells Fargo & Company raised their price target on shares of Consolidated Edison from $97.00 to $105.00 and gave the company an "equal weight" rating in a research report on Friday, August 2nd. Morgan Stanley boosted their target price on Consolidated Edison from $82.00 to $87.00 and gave the company an "underweight" rating in a research report on Wednesday, September 25th. Bank of America boosted their price target on Consolidated Edison from $97.00 to $109.00 and gave the company a "buy" rating in a report on Monday, August 5th. Scotiabank boosted their price objective on shares of Consolidated Edison from $85.00 to $90.00 and gave the stock a "sector underperform" rating in a research note on Tuesday, August 20th. Finally, Jefferies Financial Group started coverage on Consolidated Edison in a research report on Wednesday, October 9th. They set a "hold" rating and a $108.00 price target on the stock. Four research analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Consolidated Edison currently has an average rating of "Hold" and a consensus target price of $98.35.

Consolidated Edison Company Profile

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.