Consolidated Edison, Inc. (NYSE:ED) Shares Sold by Harrington Investments INC


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Harrington Investments INC decreased its stake in shares of Consolidated Edison, Inc. (NYSE:ED) by 4.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,814 shares of the utilities provider’s stock after selling 1,410 shares during the period. Consolidated Edison makes up 1.4% of Harrington Investments INC’s portfolio, making the stock its 25th biggest position. Harrington Investments INC’s holdings in Consolidated Edison were worth $2,082,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in ED. Jacobi Capital Management LLC boosted its position in shares of Consolidated Edison by 20.0% during the 3rd quarter. Jacobi Capital Management LLC now owns 780 shares of the utilities provider’s stock valued at $61,000 after purchasing an additional 130 shares in the last quarter. Ropes Wealth Advisors LLC lifted its stake in Consolidated Edison by 63.9% during the third quarter. Ropes Wealth Advisors LLC now owns 336 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 131 shares during the last quarter. HawsGoodwin Investment Management LLC boosted its holdings in Consolidated Edison by 1.1% during the third quarter. HawsGoodwin Investment Management LLC now owns 12,476 shares of the utilities provider’s stock worth $971,000 after buying an additional 131 shares in the last quarter. Shulman DeMeo Asset Management LLC grew its position in Consolidated Edison by 1.9% in the third quarter. Shulman DeMeo Asset Management LLC now owns 7,021 shares of the utilities provider’s stock worth $546,000 after buying an additional 133 shares during the last quarter. Finally, TRUE Private Wealth Advisors increased its holdings in shares of Consolidated Edison by 33.5% in the third quarter. TRUE Private Wealth Advisors now owns 534 shares of the utilities provider’s stock valued at $41,000 after buying an additional 134 shares in the last quarter. Institutional investors own 56.36% of the company’s stock.

ED stock traded up $1.69 during trading hours on Wednesday, hitting $69.61. 1,925,041 shares of the stock were exchanged, compared to its average volume of 2,516,792. Consolidated Edison, Inc. has a 12 month low of $62.03 and a 12 month high of $95.10. The company has a current ratio of 0.59, a quick ratio of 0.54 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $23.31 billion, a P/E ratio of 17.21, a P/E/G ratio of 8.32 and a beta of 0.12. The company has a 50-day simple moving average of $72.85 and a two-hundred day simple moving average of $75.31.

Consolidated Edison (NYSE:ED) last posted its quarterly earnings data on Thursday, November 5th. The utilities provider reported $1.48 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.51 by ($0.03). Consolidated Edison had a net margin of 11.06% and a return on equity of 7.77%. The business had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.41 billion. During the same period in the prior year, the firm earned $1.54 EPS. On average, equities research analysts predict that Consolidated Edison, Inc. will post 4.21 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 15th. Shareholders of record on Wednesday, November 18th were given a $0.765 dividend. This represents a $3.06 dividend on an annualized basis and a yield of 4.40%. The ex-dividend date was Tuesday, November 17th. Consolidated Edison’s dividend payout ratio is currently 70.02%.

A number of equities analysts recently issued reports on the company. BidaskClub cut Consolidated Edison from a “sell” rating to a “strong sell” rating in a report on Tuesday, December 8th. Barclays boosted their price objective on Consolidated Edison from $74.00 to $83.00 and gave the stock an “underweight” rating in a report on Wednesday, November 18th. Credit Suisse Group raised their target price on shares of Consolidated Edison from $78.00 to $81.00 and gave the stock a “neutral” rating in a report on Wednesday, November 4th. Morgan Stanley dropped their target price on shares of Consolidated Edison from $82.00 to $75.00 and set an “underweight” rating on the stock in a research report on Tuesday, December 15th. Finally, Mizuho upped their price target on shares of Consolidated Edison from $72.00 to $83.00 and gave the company a “neutral” rating in a research report on Thursday, November 12th. They noted that the move was a valuation call. Five research analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company’s stock. Consolidated Edison has a consensus rating of “Hold” and a consensus price target of $79.61.

Consolidated Edison 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 1,589 customers in parts of Manhattan.

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

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