International Assets Investment Management LLC Sells 548,377 Shares of Consolidated Edison, Inc. (NYSE:ED)

International Assets Investment Management LLC decreased its holdings in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) by 99.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,169 shares of the utilities provider's stock after selling 548,377 shares during the quarter. International Assets Investment Management LLC's holdings in Consolidated Edison were worth $460,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of ED. Point72 Asset Management L.P. grew its holdings in shares of Consolidated Edison by 1,766.0% during the third quarter. Point72 Asset Management L.P. now owns 988,961 shares of the utilities provider's stock worth $102,980,000 after purchasing an additional 935,962 shares in the last quarter. Clean Energy Transition LLP lifted its position in Consolidated Edison by 227.9% in the 2nd quarter. Clean Energy Transition LLP now owns 897,553 shares of the utilities provider's stock worth $80,259,000 after buying an additional 623,787 shares during the last quarter. FMR LLC lifted its position in Consolidated Edison by 82.3% in the 3rd quarter. FMR LLC now owns 1,268,424 shares of the utilities provider's stock worth $132,081,000 after buying an additional 572,530 shares during the last quarter. National Bank of Canada FI lifted its position in Consolidated Edison by 350.6% in the 3rd quarter. National Bank of Canada FI now owns 620,705 shares of the utilities provider's stock worth $64,634,000 after buying an additional 482,953 shares during the last quarter. Finally, State Street Corp lifted its position in Consolidated Edison by 1.7% in the 3rd quarter. State Street Corp now owns 23,429,218 shares of the utilities provider's stock worth $2,439,684,000 after buying an additional 399,034 shares during the last quarter. Hedge funds and other institutional investors own 66.29% of the company's stock.

Consolidated Edison Stock Down 0.9 %

Shares of ED traded down $0.82 on Friday, hitting $88.19. 2,243,168 shares of the stock traded hands, compared to its average volume of 2,065,228. The company has a market capitalization of $30.55 billion, a PE ratio of 16.61, a P/E/G ratio of 3.11 and a beta of 0.38. 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 business has a 50 day simple moving average of $94.15 and a 200 day simple moving average of $97.85. Consolidated Edison, Inc. has a one year low of $85.85 and a one year high of $107.75.

Consolidated Edison (NYSE:ED - Get Free Report) last issued its earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.56 by $0.12. Consolidated Edison had a net margin of 12.27% and a return on equity of 8.70%. The company had revenue of $4.09 billion for the quarter, compared to analysts' expectations of $4.02 billion. As a group, equities analysts forecast that Consolidated Edison, Inc. will post 5.34 earnings per share for the current fiscal year.

Consolidated Edison Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Wednesday, November 13th were given a dividend of $0.83 per share. The ex-dividend date was Wednesday, November 13th. This represents a $3.32 annualized dividend and a yield of 3.76%. Consolidated Edison's dividend payout ratio (DPR) is 62.52%.

Analyst Ratings Changes

ED has been the subject of a number of analyst reports. UBS Group increased their price objective on Consolidated Edison from $105.00 to $106.00 and gave the company a "neutral" rating in a research note on Friday, September 20th. Scotiabank raised shares of Consolidated Edison from a "sector underperform" rating to a "sector perform" rating and increased their price target for the company from $90.00 to $100.00 in a research report on Thursday, December 12th. Jefferies Financial Group started coverage on shares of Consolidated Edison in a report on Wednesday, October 9th. They issued a "hold" rating and a $108.00 price target on the stock. Evercore ISI raised shares of Consolidated Edison from a "hold" rating to a "strong-buy" rating in a research note on Friday, November 8th. Finally, Barclays cut their target price on Consolidated Edison from $104.00 to $99.00 and set an "underweight" rating on the stock in a research note on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $100.64.

About Consolidated Edison

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.