Meiji Yasuda Life Insurance Co Lowers stake in Consolidated Edison (ED)

Consolidated Edison (ED) : Meiji Yasuda Life Insurance Co reduced its stake in Consolidated Edison by 18.1% during the most recent quarter end. The investment management company now holds a total of 29,722 shares of Consolidated Edison which is valued at $2,341,796 after selling 6,570 shares in Consolidated Edison , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Consolidated Edison makes up approximately 0.36% of Meiji Yasuda Life Insurance Co’s portfolio.

Other Hedge Funds, Including , Thrivent Financial For Lutherans boosted its stake in ED in the latest quarter, The investment management firm added 790 additional shares and now holds a total of 10,364 shares of Consolidated Edison which is valued at $816,580.Focused Wealth Management Inc boosted its stake in ED in the latest quarter, The investment management firm added 1 additional shares and now holds a total of 3,172 shares of Consolidated Edison which is valued at $249,922. Consolidated Edison makes up approx 0.11% of Focused Wealth Management Inc’s portfolio.Sheaff Brock Investment Advisors reduced its stake in ED by selling 694 shares or 4.71% in the most recent quarter. The Hedge Fund company now holds 14,053 shares of ED which is valued at $1,092,621. Consolidated Edison makes up approx 0.13% of Sheaff Brock Investment Advisors’s portfolio.Checchi Capital Advisers reduced its stake in ED by selling 225 shares or 4.48% in the most recent quarter. The Hedge Fund company now holds 4,800 shares of ED which is valued at $389,664. Consolidated Edison makes up approx 0.10% of Checchi Capital Advisers’s portfolio.

Consolidated Edison opened for trading at $75.11 and hit $75.66 on the upside on Monday, eventually ending the session at $75.25, with a gain of 0.64% or 0.48 points. The heightened volatility saw the trading volume jump to 18,57,386 shares. Company has a market cap of $22,907 M.

On the company’s financial health, Consolidated Edison reported $0.60 EPS for the quarter, missing the analyst consensus estimate by $ -0.09 based on the information available during the earnings call on Aug 4, 2016. Analyst had a consensus of $0.69.Analysts expectations of $ 2804.65.During the same quarter in the previous year, the company posted $0.78 EPS.

Many Wall Street Analysts have commented on Consolidated Edison. Consolidated Edison was Initiated by Citigroup to “Neutral” on Aug 12, 2016. Company shares were Reiterated by Mizuho on Aug 8, 2016 to “Neutral”, Firm has raised the Price Target to $ 75 from a previous price target of $72 .

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 the Competitive Energy Businesses. CECONY delivers electricity natural gas and steam to customers in New York City and Westchester County. Orange and Rockland Utilities Inc. (O&R) delivers electricity and natural gas to customers located in south-eastern New York northern New Jersey and north-eastern Pennsylvania. O&R’s utility subsidiaries include Rockland Electric Company and Pike County Light & Power Company. Competitive energy businesses provide retail and wholesale electricity supply and energy services. The Competitive Energy Businesses include three subsidiaries: Consolidated Edison Solutions Inc. (Con Edison Solutions); Consolidated Edison Energy Inc. (Con Edison Energy) and Consolidated Edison Development Inc. (Con Edison Development).

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