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

Symons Capital Management Inc. reduced its stake in Consolidated Edison, Inc. (NYSE:ED) by 10.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 80,190 shares of the utilities provider’s stock after selling 9,072 shares during the quarter. Consolidated Edison makes up 3.5% of Symons Capital Management Inc.’s investment portfolio, making the stock its 8th largest holding. Symons Capital Management Inc.’s holdings in Consolidated Edison were worth $7,576,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Leavell Investment Management Inc. increased its position in shares of Consolidated Edison by 3.3% during the third quarter. Leavell Investment Management Inc. now owns 3,470 shares of the utilities provider’s stock valued at $328,000 after purchasing an additional 110 shares during the period. Integrated Wealth Concepts LLC increased its position in shares of Consolidated Edison by 4.1% during the second quarter. Integrated Wealth Concepts LLC now owns 2,912 shares of the utilities provider’s stock valued at $255,000 after purchasing an additional 115 shares during the period. Glenview State Bank Trust DEPT. increased its position in shares of Consolidated Edison by 4.1% during the third quarter. Glenview State Bank Trust DEPT. now owns 2,935 shares of the utilities provider’s stock valued at $277,000 after purchasing an additional 115 shares during the period. Wilbanks Smith & Thomas Asset Management LLC increased its position in shares of Consolidated Edison by 2.7% during the second quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 4,380 shares of the utilities provider’s stock valued at $384,000 after purchasing an additional 116 shares during the period. Finally, 6 Meridian increased its position in shares of Consolidated Edison by 1.9% during the second quarter. 6 Meridian now owns 6,295 shares of the utilities provider’s stock valued at $552,000 after purchasing an additional 117 shares during the period. Hedge funds and other institutional investors own 59.80% of the company’s stock.

NYSE:ED traded up $0.70 during trading hours on Friday, reaching $87.92. The company had a trading volume of 1,363,518 shares, compared to its average volume of 1,794,438. The stock has a 50-day moving average of $92.28 and a two-hundred day moving average of $88.68. Consolidated Edison, Inc. has a one year low of $73.29 and a one year high of $94.97. The firm has a market capitalization of $29.36 billion, a PE ratio of 20.35, a PEG ratio of 10.23 and a beta of 0.04. The company has a quick ratio of 0.56, a current ratio of 0.58 and a debt-to-equity ratio of 1.01.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings results on Monday, November 4th. The utilities provider reported $1.54 earnings per share for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.04). The company had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $3.50 billion. Consolidated Edison had a net margin of 10.98% and a return on equity of 7.92%. During the same quarter last year, the company earned $1.57 earnings per share. As a group, sell-side analysts expect that Consolidated Edison, Inc. will post 4.32 earnings per share for the current year.

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 $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date is Tuesday, November 12th. Consolidated Edison’s dividend payout ratio is currently 68.52%.

A number of analysts have recently issued reports on the company. Bank of America boosted their price objective on Consolidated Edison from $99.00 to $101.00 and gave the company a “buy” rating in a research report on Monday, October 28th. ValuEngine cut Consolidated Edison from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Morgan Stanley lowered their price objective on Consolidated Edison from $90.00 to $89.00 and set an “underweight” rating on the stock in a research report on Thursday, October 17th. KeyCorp upped their price target on Consolidated Edison from $98.00 to $100.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Finally, UBS Group upped their price target on Consolidated Edison from $96.00 to $98.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $92.51.

Consolidated Edison Company Profile

Consolidated Edison, Inc, through its subsidiaries, engages in regulated electric, gas, and steam delivery businesses in the United States. The company offers electric services to approximately 3.5 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 1,622 customers in parts of Manhattan.

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Institutional Ownership by Quarter for Consolidated Edison (NYSE:ED)

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