Victory Capital Management Inc. lifted its position in Consolidated Edison, Inc. (NYSE:ED) by 10.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 185,107 shares of the utilities provider’s stock after buying an additional 17,727 shares during the quarter. Victory Capital Management Inc.’s holdings in Consolidated Edison were worth $15,725,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. WFG Advisors LP raised its stake in shares of Consolidated Edison by 19.6% in the 2nd quarter. WFG Advisors LP now owns 1,308 shares of the utilities provider’s stock worth $106,000 after buying an additional 214 shares in the last quarter. Mn Services Vermogensbeheer B.V. raised its stake in shares of Consolidated Edison by 1.2% in the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 50,016 shares of the utilities provider’s stock worth $4,035,000 after buying an additional 600 shares in the last quarter. Sii Investments Inc. WI raised its stake in shares of Consolidated Edison by 11.2% in the 3rd quarter. Sii Investments Inc. WI now owns 6,004 shares of the utilities provider’s stock worth $482,000 after buying an additional 603 shares in the last quarter. Welch Investments LLC raised its stake in shares of Consolidated Edison by 1.2% in the 4th quarter. Welch Investments LLC now owns 54,448 shares of the utilities provider’s stock worth $4,625,000 after buying an additional 641 shares in the last quarter. Finally, First Manhattan Co. raised its stake in shares of Consolidated Edison by 10.2% in the 3rd quarter. First Manhattan Co. now owns 7,017 shares of the utilities provider’s stock worth $566,000 after buying an additional 651 shares in the last quarter. 56.14% of the stock is currently owned by institutional investors.

A number of research firms have recently commented on ED. Zacks Investment Research raised Consolidated Edison from a “hold” rating to a “buy” rating and set a $98.00 price objective on the stock in a research note on Tuesday, November 14th. ValuEngine raised Consolidated Edison from a “hold” rating to a “buy” rating in a research note on Friday, November 10th. Bank of America assumed coverage on Consolidated Edison in a research report on Tuesday, October 24th. They set a “buy” rating and a $92.00 target price on the stock. KeyCorp reaffirmed a “hold” rating on shares of Consolidated Edison in a research report on Friday, October 20th. Finally, Guggenheim reaffirmed a “hold” rating and set a $88.00 target price on shares of Consolidated Edison in a research report on Wednesday, January 3rd. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. Consolidated Edison has a consensus rating of “Hold” and an average price target of $81.32.

Shares of Consolidated Edison, Inc. (NYSE:ED) opened at $77.03 on Wednesday. The stock has a market capitalization of $23,999.32, a price-to-earnings ratio of 19.26, a PEG ratio of 9.06 and a beta of 0.03. The company has a current ratio of 0.79, a quick ratio of 0.70 and a debt-to-equity ratio of 0.97. Consolidated Edison, Inc. has a 52-week low of $72.63 and a 52-week high of $89.70.

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, February 14th will be given a dividend of $0.715 per share. The ex-dividend date of this dividend is Tuesday, February 13th. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.69. This represents a $2.86 dividend on an annualized basis and a dividend yield of 3.71%. Consolidated Edison’s payout ratio is 69.00%.

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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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