Zurcher Kantonalbank Zurich Cantonalbank Has $36.35 Million Holdings in Consolidated Edison, Inc. (NYSE:ED)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in Consolidated Edison, Inc. (NYSE:ED) by 15.2% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 406,530 shares of the utilities provider’s stock after purchasing an additional 53,736 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.12% of Consolidated Edison worth $36,352,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Consolidated Edison by 3.2% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 418,244 shares of the utilities provider’s stock valued at $38,897,000 after buying an additional 12,953 shares during the period. Corient Private Wealth LLC raised its holdings in shares of Consolidated Edison by 4.6% during the fourth quarter. Corient Private Wealth LLC now owns 175,416 shares of the utilities provider’s stock worth $15,958,000 after acquiring an additional 7,725 shares in the last quarter. UBS Group AG boosted its position in Consolidated Edison by 14.7% during the fourth quarter. UBS Group AG now owns 488,483 shares of the utilities provider’s stock valued at $44,437,000 after purchasing an additional 62,519 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its stake in Consolidated Edison by 2,486.2% in the first quarter. Massmutual Trust Co. FSB ADV now owns 21,776 shares of the utilities provider’s stock valued at $1,977,000 after purchasing an additional 20,934 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its position in Consolidated Edison by 35.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 47,466 shares of the utilities provider’s stock worth $4,318,000 after purchasing an additional 12,307 shares during the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

Consolidated Edison Stock Performance

Shares of Consolidated Edison stock traded up $0.42 during trading on Thursday, reaching $100.81. The company’s stock had a trading volume of 1,136,245 shares, compared to its average volume of 1,864,080. The company has a quick ratio of 0.92, a current ratio of 0.99 and a debt-to-equity ratio of 1.01. The business’s 50-day moving average price is $95.42 and its 200-day moving average price is $92.78. Consolidated Edison, Inc. has a 52 week low of $80.46 and a 52 week high of $105.99. The firm has a market cap of $34.86 billion, a PE ratio of 19.35, a P/E/G ratio of 2.56 and a beta of 0.34.

Consolidated Edison (NYSE:ED) last issued its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.02. The company had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.08 billion. Consolidated Edison had a return on equity of 8.70% and a net margin of 12.03%. During the same quarter last year, the business earned $0.61 earnings per share. Equities analysts forecast that Consolidated Edison, Inc. will post 5.31 earnings per share for the current year.

Consolidated Edison Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Wednesday, August 14th will be given a dividend of $0.83 per share. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $3.32 dividend on an annualized basis and a yield of 3.29%. Consolidated Edison’s dividend payout ratio is currently 63.72%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Scotiabank raised their price objective on shares of Consolidated Edison from $85.00 to $90.00 and gave the company a “sector underperform” rating in a research report on Tuesday, August 20th. Wells Fargo & Company lifted 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. Bank of America raised their target price on Consolidated Edison from $97.00 to $109.00 and gave the company a “buy” rating in a report on Monday, August 5th. Mizuho upped their price target on Consolidated Edison from $93.00 to $95.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 28th. Finally, Morgan Stanley raised their price objective on Consolidated Edison from $75.00 to $82.00 and gave the company an “underweight” rating in a research note on Friday, August 23rd. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $92.65.

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.