50,456 Shares in Exelon Co. (NASDAQ:EXC) Bought by Redwood Investment Management LLC

Redwood Investment Management LLC bought a new position in shares of Exelon Co. (NASDAQ:EXC) during the third quarter, HoldingsChannel.com reports. The institutional investor bought 50,456 shares of the company’s stock, valued at approximately $2,038,000.

Other institutional investors have also added to or reduced their stakes in the company. Czech National Bank lifted its holdings in Exelon by 8.8% during the 2nd quarter. Czech National Bank now owns 190,537 shares of the company’s stock valued at $6,594,000 after purchasing an additional 15,389 shares during the last quarter. HITE Hedge Asset Management LLC lifted its holdings in Exelon by 431.3% during the 3rd quarter. HITE Hedge Asset Management LLC now owns 395,840 shares of the company’s stock valued at $16,051,000 after purchasing an additional 321,333 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Exelon by 2.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,446,408 shares of the company’s stock valued at $261,402,000 after buying an additional 123,466 shares in the last quarter. Andra AP fonden grew its holdings in Exelon by 56.4% in the 2nd quarter. Andra AP fonden now owns 138,100 shares of the company’s stock valued at $4,780,000 after buying an additional 49,800 shares in the last quarter. Finally, Candriam S.C.A. grew its holdings in Exelon by 19.0% in the 2nd quarter. Candriam S.C.A. now owns 140,560 shares of the company’s stock valued at $4,865,000 after buying an additional 22,463 shares in the last quarter. 80.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Barclays upped their price objective on Exelon from $41.00 to $44.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. UBS Group upped their price objective on Exelon from $40.00 to $43.00 and gave the company a “neutral” rating in a report on Friday, September 20th. Jefferies Financial Group initiated coverage on Exelon in a report on Thursday, September 19th. They issued a “buy” rating and a $46.00 price objective on the stock. Scotiabank upped their target price on Exelon from $37.00 to $40.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. Finally, Morgan Stanley decreased their price target on Exelon from $46.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Friday, November 22nd. Eleven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Exelon has a consensus rating of “Hold” and an average target price of $41.25.

Exelon Stock Performance

NASDAQ EXC opened at $37.85 on Thursday. The company has a market capitalization of $38.03 billion, a price-to-earnings ratio of 15.58, a PEG ratio of 2.72 and a beta of 0.54. Exelon Co. has a twelve month low of $33.35 and a twelve month high of $41.42. The stock has a fifty day simple moving average of $39.47 and a 200 day simple moving average of $37.87. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 1.66.

Exelon (NASDAQ:EXC) last released its earnings results on Wednesday, October 30th. The company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.04. The business had revenue of $6.15 billion for the quarter, compared to analyst estimates of $5.85 billion. Exelon had a net margin of 10.60% and a return on equity of 9.47%. Exelon’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.67 earnings per share. Sell-side analysts expect that Exelon Co. will post 2.45 EPS for the current year.

Exelon Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, November 11th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.52 annualized dividend and a yield of 4.02%. Exelon’s payout ratio is 62.55%.

About Exelon

Exelon Corporation, a utility services holding company, engages in the energy distribution and transmission businesses in the United States and Canada. The company is involved in the purchase and regulated retail sale of electricity and natural gas, transmission and distribution of electricity, and distribution of natural gas to retail customers.