Crossmark Global Holdings Inc. Has $3.49 Million Stock Holdings in Consolidated Edison, Inc. (NYSE:ED)

Crossmark Global Holdings Inc. trimmed its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 3.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,056 shares of the utilities provider’s stock after selling 1,484 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Consolidated Edison were worth $3,485,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in ED. Point72 Asset Management L.P. boosted its position in 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 valued at $102,980,000 after acquiring an additional 935,962 shares during the last quarter. FMR LLC boosted its position in shares of Consolidated Edison by 82.3% during the 3rd quarter. FMR LLC now owns 1,268,424 shares of the utilities provider’s stock valued at $132,081,000 after purchasing an additional 572,530 shares in the last quarter. International Assets Investment Management LLC grew its stake in Consolidated Edison by 10,262.1% during the third quarter. International Assets Investment Management LLC now owns 553,546 shares of the utilities provider’s stock worth $57,641,000 after purchasing an additional 548,204 shares during the period. National Bank of Canada FI increased its holdings in Consolidated Edison by 350.6% in the third quarter. National Bank of Canada FI now owns 620,705 shares of the utilities provider’s stock worth $64,634,000 after purchasing an additional 482,953 shares in the last quarter. Finally, State Street Corp lifted its stake in Consolidated Edison by 1.7% in the third quarter. State Street Corp now owns 23,429,218 shares of the utilities provider’s stock valued at $2,439,684,000 after buying an additional 399,034 shares during the period. 66.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on ED shares. Morgan Stanley dropped 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. Scotiabank raised Consolidated Edison from a “sector underperform” rating to a “sector perform” rating and lifted their target price for the company from $90.00 to $100.00 in a research report on Thursday, December 12th. Barclays lowered their price target on Consolidated Edison from $104.00 to $99.00 and set an “underweight” rating for the company in a research report on Friday, November 8th. Evercore ISI raised shares of Consolidated Edison from a “hold” rating to a “strong-buy” rating in a report on Friday, November 8th. Finally, Citigroup upgraded shares of Consolidated Edison from a “neutral” rating to a “buy” rating and upped their target price for the stock from $103.00 to $116.00 in a research note on Tuesday, October 15th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $100.64.

Consolidated Edison Stock Down 2.6 %

ED opened at $90.79 on Thursday. Consolidated Edison, Inc. has a twelve month low of $85.85 and a twelve month high of $107.75. The company’s 50-day moving average price is $93.18 and its two-hundred day moving average price is $98.03. The stock has a market cap of $31.45 billion, a price-to-earnings ratio of 17.10, a PEG ratio of 2.99 and a beta of 0.38. The company has a quick ratio of 0.93, a current ratio of 1.01 and a debt-to-equity ratio of 1.07.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, November 7th. The utilities provider reported $1.68 EPS 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 business had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.02 billion. As a group, equities analysts expect that Consolidated Edison, Inc. will post 5.35 earnings per share for the current year.

Consolidated Edison Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Wednesday, February 19th will be issued a dividend of $0.85 per share. The ex-dividend date of this dividend is Wednesday, February 19th. This is an increase from Consolidated Edison’s previous quarterly dividend of $0.83. This represents a $3.40 annualized dividend and a yield of 3.75%. Consolidated Edison’s dividend payout ratio is 62.52%.

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.