In the third quarter, Allspring Global Investments Holdings LLC reduced its stake in Consolidated Edison Inc by 23.8%, selling 6,644 shares to hold 21,286 shares at quarter end. The remaining position was valued at approximately $2.09 million. This sizable divestiture marks a notable shift in Allspring’s allocation to the regulated utilities provider and signals a reevaluation of its exposure to the sector’s longer-term infrastructure spending outlook.

Several large asset managers adjusted their exposure to Consolidated Edison during the second quarter. Vanguard Group increased its holdings by 4.5% to 45.0 million shares, representing over $4.5 billion in market value. Geode Capital lifted its stake by 6.1% to 9.8 million shares, while Norges Bank established a new position valued at roughly $462 million. ATLAS Infrastructure Partners UK and Charles Schwab Investment Management also added more than 100,000 shares each. Together, institutional ownership stands at 66.3%, underscoring broad portfolio rebalancing within regulated utilities.

Consolidated Edison reported third-quarter EPS of $1.90, beating consensus by $0.14, on revenue of $4.53 billion versus expectations of $4.22 billion. Net margin reached 12.3% and return on equity was 8.8%. The company reiterated full-year EPS guidance at $5.60–5.70, in line with analysts’ forecasts of $5.62. The quarterly dividend of $0.85 per share, paid mid-December, yields 3.4% on an annualized basis, with a payout ratio of 59.4%, reflecting the utility’s commitment to stable cash returns.

Consensus analyst sentiment has softened, with three Buys, seven Holds, and five Sells resulting in an overall ‘Reduce’ rating and an average target near $103. Notably, JPMorgan lowered its target to $97 and assigned an Underweight stance. On the insider front, director John F. Killian disposed of 2,276 shares at an average of $96.89, trimming his stake by 5.6%. Insider ownership remains modest at 0.19%, suggesting limited executive repositioning.