Consolidated Edison, Inc. (NYSE:ED) Shares Sold by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. lowered its stake in Consolidated Edison, Inc. (NYSE:ED) by 22.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 600,432 shares of the utilities provider’s stock after selling 173,950 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Consolidated Edison were worth $62,523,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Pathway Financial Advisers LLC increased its stake in Consolidated Edison by 10,302.6% in the 3rd quarter. Pathway Financial Advisers LLC now owns 24,446 shares of the utilities provider’s stock valued at $2,546,000 after buying an additional 24,211 shares during the period. Sei Investments Co. increased its stake 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 worth $22,193,000 after acquiring an additional 89,080 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in Consolidated Edison by 153.9% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 245,802 shares of the utilities provider’s stock worth $22,321,000 after purchasing an additional 148,988 shares in the last quarter. Mizuho Markets Americas LLC raised its holdings in Consolidated Edison by 121.1% during the first quarter. Mizuho Markets Americas LLC now owns 113,675 shares of the utilities provider’s stock worth $10,323,000 after purchasing an additional 62,260 shares in the last quarter. Finally, Plato Investment Management Ltd lifted its position in Consolidated Edison by 17,683.9% in the first quarter. Plato Investment Management Ltd now owns 9,959 shares of the utilities provider’s stock valued at $904,000 after purchasing an additional 9,903 shares during the period. Hedge funds and other institutional investors own 66.29% of the company’s stock.

Consolidated Edison Price Performance

Consolidated Edison stock opened at $99.15 on Tuesday. Consolidated Edison, Inc. has a 1 year low of $85.85 and a 1 year high of $107.75. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.97 and a current ratio of 1.04. The firm has a 50 day moving average price of $103.51 and a 200 day moving average price of $97.79. The company has a market cap of $34.32 billion, a price-to-earnings ratio of 19.29, a PEG ratio of 3.43 and a beta of 0.36.

Consolidated Edison Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Wednesday, November 13th will be issued a dividend of $0.83 per share. The ex-dividend date is Wednesday, November 13th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.35%. Consolidated Edison’s payout ratio is 64.59%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ED. Bank of America increased their target price on Consolidated Edison from $97.00 to $109.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Morgan Stanley raised their target price on Consolidated Edison from $82.00 to $87.00 and gave the company an “underweight” rating in a report on Wednesday, September 25th. Barclays upped their price target on shares of Consolidated Edison from $98.00 to $104.00 and gave the stock an “underweight” rating in a research note on Monday, October 21st. Wells Fargo & Company raised their price objective on shares of Consolidated Edison from $97.00 to $105.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. 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 report on Tuesday, October 15th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $98.73.

Consolidated Edison 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.