Grantham Mayo Van Otterloo & Co. LLC Makes New $5.71 Million Investment in Consolidated Edison, Inc. (NYSE:ED)

Grantham Mayo Van Otterloo & Co. LLC bought a new stake in Consolidated Edison, Inc. (NYSE:ED - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 64,000 shares of the utilities provider's stock, valued at approximately $5,711,000.

Several other hedge funds have also bought and sold shares of the stock. United Bank bought a new position in shares of Consolidated Edison during the 3rd quarter valued at about $227,000. Janus Henderson Group PLC grew its position in Consolidated Edison by 2.8% during the third quarter. Janus Henderson Group PLC now owns 54,440 shares of the utilities provider's stock valued at $5,669,000 after acquiring an additional 1,500 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in shares of Consolidated Edison during the third quarter worth approximately $872,000. Royal London Asset Management Ltd. lifted its holdings in shares of Consolidated Edison by 3.3% in the 3rd quarter. Royal London Asset Management Ltd. now owns 142,600 shares of the utilities provider's stock worth $14,849,000 after acquiring an additional 4,560 shares during the last quarter. Finally, Quantinno Capital Management LP boosted its stake in shares of Consolidated Edison by 42.6% in the 3rd quarter. Quantinno Capital Management LP now owns 43,941 shares of the utilities provider's stock valued at $4,576,000 after purchasing an additional 13,124 shares in the last quarter. 66.29% of the stock is currently owned by institutional investors.

Consolidated Edison Stock Up 1.7 %

ED traded up $1.81 during trading on Friday, reaching $110.11. The stock had a trading volume of 854,275 shares, compared to its average volume of 2,213,156. The company has a current ratio of 1.01, a quick ratio of 0.93 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $39.66 billion, a price-to-earnings ratio of 20.99, a P/E/G ratio of 3.05 and a beta of 0.27. The stock's 50 day moving average is $102.89 and its two-hundred day moving average is $98.89. Consolidated Edison, Inc. has a one year low of $87.28 and a one year high of $114.87.

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

Consolidated Edison Increases Dividend

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

Analyst Ratings Changes

Several research analysts have recently commented on ED shares. Citigroup lifted their price objective on Consolidated Edison from $116.00 to $120.00 and gave the stock a "buy" rating in a report on Wednesday. Mizuho raised their target price on shares of Consolidated Edison from $92.00 to $95.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. Evercore ISI lowered shares of Consolidated Edison from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 21st. Scotiabank raised their price target 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. Finally, Morgan Stanley upped their price objective on shares of Consolidated Edison from $85.00 to $91.00 and gave the company an "underweight" rating in a research note on Thursday, March 20th. Two equities research 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 stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target 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.