Consolidated Edison, Inc. (ED) Shares Bought by Arizona State Retirement System

Arizona State Retirement System increased its stake in Consolidated Edison, Inc. (NYSE:ED) by 25.0% in the 4th quarter, Holdings Channel reports. The firm owned 215,348 shares of the utilities provider’s stock after acquiring an additional 43,129 shares during the period. Arizona State Retirement System’s holdings in Consolidated Edison were worth $18,294,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the stock. GWM Advisors LLC raised its position in Consolidated Edison by 45.9% in the 4th quarter. GWM Advisors LLC now owns 6,712 shares of the utilities provider’s stock worth $556,000 after purchasing an additional 2,113 shares during the last quarter. Intrust Bank NA raised its position in Consolidated Edison by 30.2% in the 4th quarter. Intrust Bank NA now owns 3,668 shares of the utilities provider’s stock worth $312,000 after purchasing an additional 851 shares during the last quarter. Advisory Services Network LLC raised its position in Consolidated Edison by 18.0% in the 4th quarter. Advisory Services Network LLC now owns 5,214 shares of the utilities provider’s stock worth $443,000 after purchasing an additional 796 shares during the last quarter. Toronto Dominion Bank raised its position in Consolidated Edison by 13.7% in the 4th quarter. Toronto Dominion Bank now owns 134,390 shares of the utilities provider’s stock worth $11,415,000 after purchasing an additional 16,216 shares during the last quarter. Finally, Sei Investments Co. raised its position in Consolidated Edison by 2.3% in the 4th quarter. Sei Investments Co. now owns 98,672 shares of the utilities provider’s stock worth $8,381,000 after purchasing an additional 2,197 shares during the last quarter. Hedge funds and other institutional investors own 56.14% of the company’s stock.

ED has been the subject of several recent research reports. Zacks Investment Research cut shares of Consolidated Edison from a “buy” rating to a “hold” rating in a research report on Friday, January 19th. KeyCorp reiterated a “hold” rating on shares of Consolidated Edison in a research report on Friday, October 20th. UBS Group initiated coverage on shares of Consolidated Edison in a research report on Friday, February 2nd. They set a “neutral” rating and a $80.00 target price for the company. Bank of America initiated coverage on shares of Consolidated Edison in a research report on Tuesday, October 24th. They set a “buy” rating and a $92.00 target price for the company. Finally, ValuEngine upgraded shares of Consolidated Edison from a “hold” rating to a “buy” rating in a research report on Friday, November 10th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $81.32.

Shares of Consolidated Edison, Inc. (NYSE:ED) opened at $75.89 on Thursday. The company has a market cap of $23,884.60, a price-to-earnings ratio of 19.21, a price-to-earnings-growth ratio of 9.02 and a beta of 0.03. Consolidated Edison, Inc. has a 1 year low of $72.63 and a 1 year high of $89.70. The company has a current ratio of 0.79, a quick ratio of 0.70 and a debt-to-equity ratio of 0.97.

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, February 14th will be issued a $0.715 dividend. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.69. The ex-dividend date is Tuesday, February 13th. This represents a $2.86 annualized dividend and a dividend yield of 3.77%. Consolidated Edison’s payout ratio is 71.50%.

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About Consolidated Edison

Consolidated Edison, Inc (Con Edison) is a holding company. The Company operates through its subsidiaries, which include Consolidated Edison Company of New York, Inc (CECONY), Orange and Rockland Utilities, Inc (O&R), Con Edison Clean Energy Businesses, Inc (the Clean Energy Businesses) and Con Edison Transmission, Inc (Con Edison Transmission).

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

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