Consolidated Edison, Inc. (NYSE:ED) Shares Bought by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. raised its position in Consolidated Edison, Inc. (NYSE:ED) by 7.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,823 shares of the utilities provider’s stock after purchasing an additional 2,345 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Consolidated Edison were worth $3,101,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of ED. Integrated Wealth Concepts LLC raised its stake in shares of Consolidated Edison by 4.1% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 2,912 shares of the utilities provider’s stock valued at $255,000 after acquiring an additional 115 shares during the period. Wilbanks Smith & Thomas Asset Management LLC raised its stake in shares of Consolidated Edison by 2.7% in the 2nd quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 4,380 shares of the utilities provider’s stock valued at $384,000 after acquiring an additional 116 shares during the period. 6 Meridian raised its stake in shares of Consolidated Edison by 1.9% in the 2nd quarter. 6 Meridian now owns 6,295 shares of the utilities provider’s stock valued at $552,000 after acquiring an additional 117 shares during the period. Valmark Advisers Inc. raised its stake in shares of Consolidated Edison by 5.5% in the 2nd quarter. Valmark Advisers Inc. now owns 2,510 shares of the utilities provider’s stock valued at $220,000 after acquiring an additional 131 shares during the period. Finally, Round Table Services LLC raised its stake in shares of Consolidated Edison by 2.3% in the 2nd quarter. Round Table Services LLC now owns 6,140 shares of the utilities provider’s stock valued at $538,000 after acquiring an additional 138 shares during the period. Institutional investors own 59.75% of the company’s stock.

A number of research firms have recently issued reports on ED. Morgan Stanley reduced their price target on shares of Consolidated Edison from $93.00 to $91.00 and set an “underweight” rating on the stock in a research note on Friday, August 16th. Barclays reissued a “hold” rating and issued a $90.00 price target on shares of Consolidated Edison in a research note on Thursday, June 20th. Credit Suisse Group reduced their price target on shares of Consolidated Edison from $87.00 to $86.00 and set an “underperform” rating on the stock in a research note on Thursday, August 8th. Finally, ValuEngine downgraded shares of Consolidated Edison from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $85.01.

Shares of ED opened at $92.22 on Friday. Consolidated Edison, Inc. has a fifty-two week low of $73.29 and a fifty-two week high of $94.97. The firm’s 50 day moving average price is $91.23 and its 200 day moving average price is $87.72. The company has a market cap of $31.01 billion, a P/E ratio of 21.76, a PEG ratio of 10.75 and a beta of 0.07. The company has a quick ratio of 0.56, a current ratio of 0.62 and a debt-to-equity ratio of 1.03.

Consolidated Edison (NYSE:ED) last announced its earnings results on Thursday, August 1st. The utilities provider reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.02). Consolidated Edison had a return on equity of 8.04% and a net margin of 10.71%. The business had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.67 billion. During the same period in the previous year, the company earned $0.61 earnings per share. Research analysts forecast that Consolidated Edison, Inc. will post 4.34 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Wednesday, August 14th were paid a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a yield of 3.21%. The ex-dividend date of this dividend was Tuesday, August 13th. Consolidated Edison’s payout ratio is currently 68.52%.

About Consolidated Edison

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 1,622 customers in parts of Manhattan.

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

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