Fri Jan 31 16:40:00 IST 2025: **Increased Institutional Investor Activity in Consolidated Edison (ED)**

NEW YORK, NY – February 26, 2024 – Consolidated Edison, Inc. (NYSE: ED) has seen significant changes in its institutional investor holdings in recent quarters. KBC Group NV increased its stake by 11.1% in Q4 2023, now owning 46,095 shares valued at $4.1 million. This follows a surge in investment activity from several other institutional investors during the third quarter of 2023. Point72 Asset Management L.P. dramatically boosted its holdings by 1,766%, FMR LLC increased its position by 82.3%, International Assets Investment Management LLC saw a 10,262.1% increase, and National Bank of Canada FI increased its stake by 350.6%. State Street Corp also added to its significant holding, increasing its shares by 1.7%. Collectively, institutional investors now own 66.29% of Consolidated Edison’s stock.

Consolidated Edison reported strong Q4 2023 earnings, exceeding analyst expectations with earnings per share (EPS) of $1.68, compared to the consensus estimate of $1.56. The company also announced a dividend increase to $0.85 per share.

Analyst sentiment remains mixed. While some firms, such as Citigroup, have upgraded their ratings and price targets, others, including Barclays and Evercore ISI, have downgraded their outlook. The current consensus rating among analysts is Hold, with an average price target of $100.00. Shares of ED opened at $93.93 on Friday.

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