In the fast-paced world of commerce, keeping track of market movements and company investments can be quite perplexing. As we approach May 22, 2023, one noteworthy event worth discussing is the significant growth in position from Commerce Bank on Consolidated Edison, Inc. (NYSE:ED).
According to the most recent 13F filing with the Securities and Exchange Commission (SEC), Commerce Bank acquired an additional 2,388 shares during the fourth quarter of 2022, resulting in a growth of their holdings by 7.8%. This brings their total shares to an impressive 32,943 with a total value of $3,140,000 in Consolidated Edison.
Consolidated Edison, Inc. is a holding company that specializes in regulated electric, gas and steam delivery. It encompasses various segments including Consolidated Edison Company of New York (CECONY), Orange and Rockland Utilities (O&R), Con Edison Clean Energy Businesses and Con Edison Transmission.
ED stock opened at $95.19 on Monday with a market capitalization of $32.99 billion. The company’s P/E ratio stands at 13.56 while its P/E/G ratio is at 9.81 which places it in a unique spot within the industry.
Further analyzing these numbers we see that the company’s two-hundred-day moving average price is $95.09 and its fifty-day moving average price is $97.12 indicating an apparent rise within this time frame.
It’s noteworthy to point out that Consolidated Edison has had an impressive track record within the industry with its long-term low reach recorded as $78.10 while its high stood at $102.21 over twelve months.
The firm keeps a quick ratio of 1.11 alongside a current ratio that exceeds it at 1.20 displaying competence in management decision-making processes leading up to efficient liquidation preferences where required based on the situation they face.
All in all, this growth in position from Commerce Bank on Consolidated Edison marks a significant milestone within the industry. The market continues to keep pace and followers can look forward to the intricate workings that result in these numbers. The future looks bright for Consolidated Edison as the company remains relevant while pushing boundaries, creating investments possibilities that will have a positive impact on commerce going into 2023.
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Institutional Investors Show Interest in Consolidated Edison, Inc.: Company Declares Quarterly Dividend and Beats EPS Expectations
Consolidated Edison, Inc. (NYSE:ED), a holding company engaged in the regulated electric, gas, and steam delivery business, has been seeing some movement in institutional investments. Recently, Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Consolidated Edison during the fourth quarter valued at $26,000. Boyd Watterson Asset Management LLC OH also bought a new position in shares of Consolidated Edison in the same quarter priced at about $32,000.
Moreover, Almanack Investment Partners LLC bought a new stake worth $36,000 during the third quarter while Motco also acquired a new stake for about $37,000. Glassy Mountain Advisors Inc. followed suit in the fourth quarter with a $38,000 purchase of its own. Currently, 64.95% of Consolidated Edison’s stocks are owned by institutional investors and hedge funds.
Although having mixed ratings from research analysts including four sell ratings alongside seven hold ratings and only one buy rating as reported by Bloomberg.com, Consolidated Edison saw better than expected earnings per share (EPS) of $1.83 on May 4th this year beating estimates by 21 cents per share as well as an increase in revenue from last year’s figures.
Additionally seeking to show good news for its investors is Consolidated Edison declaring its quarterly dividend to be paid on June 15th this year with investors receiving $0.81 per share issued starting May 17th EX-dividend date.
Consolidated Edison operates through its following segments: Consolidated Edison Company of New York (CECONY), Orange and Rockland Utilities(O&R), Con Edison Clean Energy Businesses and Con Edison Transmission demonstrating strong potential according to these recent announcements on investment moves by institutional investors as well as dividends to be paid out soon for its current stockholders.
