Trade Report: The Alley Co LLC Sold shares of Consolidated Edison Inc. (ED)

The Alley Co LLC Sold shares of Consolidated Edison Inc. (ED)

Alley Co LLC reduced its position in Consolidated Edison Inc. (NYSE:ED) by 7.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,952 shares of the company’s stock after selling 299 shares during the period. Alley Co LLC’s holdings in Consolidated Edison were worth $318,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp increased its position in Consolidated Edison by 0.9% in the first quarter. State Street Corp now owns 18,740,714 shares of the company’s stock valued at $1,435,923,000 after buying an additional 174,002 shares during the last quarter. Geode Capital Management LLC increased its position in Consolidated Edison by 1.8% in the first quarter. Geode Capital Management LLC now owns 2,534,280 shares of the company’s stock valued at $193,807,000 after buying an additional 45,773 shares during the last quarter. American Century Companies Inc. increased its position in Consolidated Edison by 26.9% in the second quarter. American Century Companies Inc. now owns 1,401,412 shares of the company’s stock valued at $112,730,000 after buying an additional 296,707 shares during the last quarter. Nordea Investment Management AB increased its position in Consolidated Edison by 13.6% in the second quarter. Nordea Investment Management AB now owns 1,367,267 shares of the company’s stock valued at $109,983,000 after buying an additional 164,060 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its position in Consolidated Edison by 4.7% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,188,314 shares of the company’s stock valued at $95,585,000 after buying an additional 52,875 shares during the last quarter. Hedge funds and other institutional investors own 54.73% of the company’s stock.

Shares of Consolidated Edison Inc. (NYSE:ED) traded up 0.68% during trading on Monday, reaching $72.98. 669,427 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $74.92 and a 200 day moving average price of $76.14. The firm has a market cap of $22.22 billion, a price-to-earnings ratio of 18.91 and a beta of 0.01. Consolidated Edison Inc. has a 12 month low of $60.30 and a 12 month high of $81.88.

Consolidated Edison (NYSE:ED) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.60 EPS for the quarter, missing the consensus estimate of $0.69 by $0.09. Consolidated Edison had a net margin of 9.47% and a return on equity of 8.88%. During the same period in the previous year, the business posted $0.78 EPS. On average, analysts forecast that Consolidated Edison Inc. will post $3.97 EPS for the current year.

ED has been the topic of several research reports. Morgan Stanley set a $69.00 price objective on shares of Consolidated Edison and gave the stock a “sell” rating in a report on Wednesday, September 21st. Citigroup Inc. lowered their price objective on shares of Consolidated Edison from $76.00 to $72.00 and set a “neutral” rating on the stock in a report on Tuesday, October 4th. Vetr upgraded shares of Consolidated Edison from a “sell” rating to a “hold” rating and set a $74.71 target price for the company in a research note on Wednesday, September 7th. Zacks Investment Research lowered shares of Consolidated Edison from a “hold” rating to a “sell” rating in a research note on Wednesday, September 21st. Finally, Jefferies Group reiterated a “hold” rating on shares of Consolidated Edison in a research note on Monday, August 1st. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $74.47.

Consolidated Edison Company Profile

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) and Con Edison Transmission, Inc It owns competitive energy businesses. The Company also owns Con Edison Transmission, Inc (Con Edison Transmission), which invests in electric and gas transmission projects through its subsidiaries, Consolidated Edison Transmission, LLC (CET Electric) and Con Edison Gas Midstream, LLC (CET Gas).

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