Unigestion Holding SA Sells 54,846 Shares of Consolidated Edison, Inc. (NYSE:ED)

Unigestion Holding SA trimmed its holdings in Consolidated Edison, Inc. (NYSE:ED - Free Report) by 17.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 265,342 shares of the utilities provider's stock after selling 54,846 shares during the quarter. Consolidated Edison comprises about 1.4% of Unigestion Holding SA's investment portfolio, making the stock its 29th biggest holding. Unigestion Holding SA owned about 0.08% of Consolidated Edison worth $23,671,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of ED. United Bank purchased a new stake in shares of Consolidated Edison in the third quarter worth $227,000. Verition Fund Management LLC grew its position in Consolidated Edison by 231.1% during the 3rd quarter. Verition Fund Management LLC now owns 15,382 shares of the utilities provider's stock valued at $1,602,000 after purchasing an additional 10,736 shares during the last quarter. Edgestream Partners L.P. bought a new stake in Consolidated Edison during the 3rd quarter valued at about $283,000. Hilltop Holdings Inc. raised its holdings in Consolidated Edison by 12.9% in the third quarter. Hilltop Holdings Inc. now owns 4,361 shares of the utilities provider's stock worth $454,000 after buying an additional 498 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its stake in shares of Consolidated Edison by 2.8% in the third quarter. Janus Henderson Group PLC now owns 54,440 shares of the utilities provider's stock worth $5,669,000 after buying an additional 1,500 shares in the last quarter. 66.29% of the stock is owned by hedge funds and other institutional investors.

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Consolidated Edison Price Performance

ED stock traded up $1.79 during mid-day trading on Friday, hitting $110.09. The company had a trading volume of 1,124,974 shares, compared to its average volume of 2,214,176. The company has a 50-day moving average price of $102.89 and a 200 day moving average price of $98.89. Consolidated Edison, Inc. has a 12-month low of $87.28 and a 12-month high of $114.87. The company has a market capitalization of $39.65 billion, a price-to-earnings ratio of 20.93, a P/E/G ratio of 3.05 and a beta of 0.27. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07.

Consolidated Edison (NYSE:ED - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The utilities provider reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.01. The business had revenue of $3.67 billion for the quarter, compared to analysts' expectations of $3.63 billion. Consolidated Edison had a return on equity of 8.62% and a net margin of 11.93%. On average, research analysts anticipate that Consolidated Edison, Inc. will post 5.62 earnings per share for the current year.

Consolidated Edison Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th were paid a $0.85 dividend. This is a boost from Consolidated Edison's previous quarterly dividend of $0.83. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date of this dividend was Wednesday, February 19th. Consolidated Edison's dividend payout ratio (DPR) is presently 64.89%.

Analyst Upgrades and Downgrades

ED has been the subject of several analyst reports. Scotiabank boosted their price objective on shares of Consolidated Edison from $100.00 to $101.00 and gave the stock a "sector perform" rating in a report on Monday, February 24th. Citigroup boosted their price target on Consolidated Edison from $116.00 to $120.00 and gave the stock a "buy" rating in a research note on Wednesday. UBS Group increased their price objective on Consolidated Edison from $110.00 to $113.00 and gave the company a "neutral" rating in a research report on Friday, March 21st. Morgan Stanley boosted their target price on Consolidated Edison from $85.00 to $91.00 and gave the stock an "underweight" rating in a research report on Thursday, March 20th. Finally, Evercore ISI downgraded shares of Consolidated Edison from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 21st. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Consolidated Edison currently has an average rating of "Hold" and an average target price of $102.80.

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.