8,372 Shares in Consolidated Edison, Inc. (NYSE:ED) Purchased by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. acquired a new position in shares of Consolidated Edison, Inc. (NYSE:ED - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 8,372 shares of the utilities provider's stock, valued at approximately $872,000.

Other large investors also recently added to or reduced their stakes in the company. Janus Henderson Group PLC increased its stake 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 worth $5,669,000 after acquiring an additional 1,500 shares during the last quarter. Hilltop Holdings Inc. increased its position in shares of Consolidated Edison by 12.9% during the 3rd quarter. Hilltop Holdings Inc. now owns 4,361 shares of the utilities provider's stock worth $454,000 after purchasing an additional 498 shares during the last quarter. FSA Wealth Management LLC purchased a new stake in Consolidated Edison in the 3rd quarter valued at about $55,000. True Wealth Design LLC lifted its position in Consolidated Edison by 4,983.3% in the third quarter. True Wealth Design LLC now owns 610 shares of the utilities provider's stock valued at $64,000 after buying an additional 598 shares during the last quarter. Finally, Edgestream Partners L.P. purchased a new position in Consolidated Edison during the third quarter worth about $283,000. 66.29% of the stock is currently owned by hedge funds and other institutional investors.

Consolidated Edison Price Performance

NYSE:ED traded up $0.41 during trading hours on Monday, hitting $95.23. The company's stock had a trading volume of 789,778 shares, compared to its average volume of 1,886,052. The company has a market capitalization of $32.99 billion, a PE ratio of 17.86, a PEG ratio of 3.18 and a beta of 0.36. Consolidated Edison, Inc. has a 52-week low of $85.85 and a 52-week high of $107.75. The business's 50-day moving average is $101.08 and its two-hundred day moving average is $98.22. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.93 and a current ratio of 1.01.

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

Consolidated Edison Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Wednesday, November 13th will be issued a $0.83 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $3.32 annualized dividend and a yield of 3.49%. Consolidated Edison's dividend payout ratio (DPR) is presently 62.52%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Evercore ISI upgraded shares of Consolidated Edison from a "hold" rating to a "strong-buy" rating in a report on Friday, November 8th. Scotiabank lifted their price objective on Consolidated Edison from $85.00 to $90.00 and gave the company a "sector underperform" rating in a research note on Tuesday, August 20th. Citigroup raised Consolidated Edison from a "neutral" rating to a "buy" rating and increased their target price for the stock from $103.00 to $116.00 in a research note on Tuesday, October 15th. Jefferies Financial Group started coverage on Consolidated Edison in a research report on Wednesday, October 9th. They issued a "hold" rating and a $108.00 target price for the company. Finally, Morgan Stanley reduced their price target on shares of Consolidated Edison from $88.00 to $85.00 and set an "underweight" rating on the stock in a research report on Friday, November 22nd. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $99.13.

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.