David J Yvars Group Sells 758 Shares of Consolidated Edison, Inc. (NYSE:ED)

David J Yvars Group lowered its position in Consolidated Edison, Inc. (NYSE:ED) by 8.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 7,879 shares of the utilities provider’s stock after selling 758 shares during the quarter. David J Yvars Group’s holdings in Consolidated Edison were worth $703,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Point72 Asset Management L.P. grew its position in shares of Consolidated Edison by 1,766.0% during the 3rd quarter. Point72 Asset Management L.P. now owns 988,961 shares of the utilities provider’s stock valued at $102,980,000 after acquiring an additional 935,962 shares during the period. Clean Energy Transition LLP raised its position in shares of Consolidated Edison by 227.9% during the second quarter. Clean Energy Transition LLP now owns 897,553 shares of the utilities provider’s stock valued at $80,259,000 after buying an additional 623,787 shares during the last quarter. FMR LLC lifted its holdings in shares of Consolidated Edison by 82.3% in the third 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 in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Consolidated Edison by 10,262.1% in the third quarter. International Assets Investment Management LLC now owns 553,546 shares of the utilities provider’s stock worth $57,641,000 after buying an additional 548,204 shares in the last quarter. Finally, National Bank of Canada FI boosted its position in shares of Consolidated Edison by 350.6% during the third quarter. National Bank of Canada FI now owns 620,705 shares of the utilities provider’s stock worth $64,634,000 after acquiring an additional 482,953 shares during the last quarter. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Consolidated Edison Stock Performance

Shares of NYSE:ED opened at $88.38 on Tuesday. 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 $30.62 billion, a price-to-earnings ratio of 16.64, a PEG ratio of 3.11 and a beta of 0.38. Consolidated Edison, Inc. has a 12 month low of $85.85 and a 12 month high of $107.75. The firm’s 50-day moving average is $93.93 and its 200 day moving average is $97.90.

Consolidated Edison (NYSE:ED) last released its earnings results on Thursday, November 7th. The utilities provider reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.12. The business had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.02 billion. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.27%. Research analysts predict that Consolidated Edison, Inc. will post 5.34 EPS for the current year.

Consolidated Edison Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Wednesday, November 13th were issued a $0.83 dividend. The ex-dividend date was Wednesday, November 13th. This represents a $3.32 annualized dividend and a dividend yield of 3.76%. Consolidated Edison’s dividend payout ratio is currently 62.52%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Jefferies Financial Group began coverage on Consolidated Edison in a research report on Wednesday, October 9th. They set a “hold” rating and a $108.00 price objective for the company. Citigroup raised Consolidated Edison from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $103.00 to $116.00 in a research note on Tuesday, October 15th. Morgan Stanley lowered their target price on Consolidated Edison from $88.00 to $85.00 and set an “underweight” rating for the company in a research report on Friday, November 22nd. Scotiabank upgraded shares of Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and boosted their price target for the stock from $90.00 to $100.00 in a research report on Thursday, December 12th. Finally, Barclays lowered their price objective on shares of Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating for the company in a research report on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $100.64.

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.