ICA Group Wealth Management LLC Sells 2,630 Shares of Consolidated Edison, Inc. (NYSE:ED)

ICA Group Wealth Management LLC decreased its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 83.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 525 shares of the utilities provider’s stock after selling 2,630 shares during the period. ICA Group Wealth Management LLC’s holdings in Consolidated Edison were worth $47,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of ED. Corient Private Wealth LLC lifted its position in Consolidated Edison by 4.6% during the 4th quarter. Corient Private Wealth LLC now owns 175,416 shares of the utilities provider’s stock valued at $15,958,000 after acquiring an additional 7,725 shares during the period. UBS Group AG raised its holdings in Consolidated Edison by 14.7% in the fourth quarter. UBS Group AG now owns 488,483 shares of the utilities provider’s stock worth $44,437,000 after buying an additional 62,519 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in shares of Consolidated Edison by 2,486.2% during the first quarter. Massmutual Trust Co. FSB ADV now owns 21,776 shares of the utilities provider’s stock valued at $1,977,000 after purchasing an additional 20,934 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Consolidated Edison by 35.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 47,466 shares of the utilities provider’s stock valued at $4,318,000 after purchasing an additional 12,307 shares during the last quarter. Finally, Sei Investments Co. raised its holdings in shares of Consolidated Edison by 57.4% during the first quarter. Sei Investments Co. now owns 244,404 shares of the utilities provider’s stock valued at $22,193,000 after purchasing an additional 89,080 shares during the last quarter. Institutional investors own 66.29% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. UBS Group boosted their target price on shares of Consolidated Edison from $92.00 to $96.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. Barclays boosted their target price on shares of Consolidated Edison from $92.00 to $98.00 and gave the company an “underweight” rating in a research report on Monday, August 5th. Morgan Stanley boosted their target price on shares of Consolidated Edison from $75.00 to $82.00 and gave the company an “underweight” rating in a research report on Friday, August 23rd. Bank of America boosted their target price on shares of Consolidated Edison from $97.00 to $109.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Finally, Guggenheim upped their price target on shares of Consolidated Edison from $88.00 to $91.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $92.65.

Consolidated Edison Trading Up 1.1 %

Shares of ED opened at $104.56 on Monday. Consolidated Edison, Inc. has a twelve month low of $80.46 and a twelve month high of $105.99. The company has a market cap of $36.19 billion, a P/E ratio of 20.07, a P/E/G ratio of 3.50 and a beta of 0.36. The company has a current ratio of 1.04, a quick ratio of 0.97 and a debt-to-equity ratio of 1.08. The company’s fifty day simple moving average is $98.73 and its 200-day simple moving average is $94.15.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.02. Consolidated Edison had a net margin of 12.03% and a return on equity of 8.67%. The company had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.08 billion. During the same quarter last year, the business posted $0.61 EPS. As a group, analysts expect that Consolidated Edison, Inc. will post 5.31 EPS for the current year.

Consolidated Edison Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Wednesday, August 14th will be issued a dividend of $0.83 per share. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $3.32 dividend on an annualized basis and a yield of 3.18%. Consolidated Edison’s payout ratio is 63.72%.

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.