In its latest SEC filing for the third quarter, Allspring Global Investments Holdings LLC reduced its holding in Consolidated Edison by 23.8%, selling 6,644 shares to leave a position of 21,286 shares valued at approximately $2.09 million. This move contrasts with other major institutional shifts during the second quarter: Vanguard Group increased its position by 4.5%, adding 1.92 million shares to reach over 45 million shares valued at $4.52 billion; Geode Capital added 566,358 shares (up 6.1%) for a total of 9.8 million shares valued at $979.2 million; Norges Bank initiated a new stake worth $462.2 million; ATLAS Infrastructure Partners UK boosted its position by 110,666 shares (4.8%) to reach 2.41 million shares valued at $241.8 million; and Charles Schwab Investment Management added 104,643 shares (4.6%) for a total of 2.38 million shares valued at $238.5 million. Overall, institutional investors now own 66.29% of the company.

For the recent quarter, Consolidated Edison reported earnings per share of $1.90, surpassing consensus by $0.14, on revenues of $4.53 billion, topping estimates by $0.31 billion. The utility delivered a net margin of 12.27% and a return on equity of 8.79%, compared with $1.68 EPS in the year-ago quarter. The company projects full-year EPS in the range of 5.600 to 5.700, in line with the analysts’ consensus forecast of 5.62 EPS. On the balance sheet, Con Edison maintains a debt-to-equity ratio of 1.03, a quick ratio of 0.97 and a current ratio of 1.08, supporting ongoing capital spending plans for grid upgrades and renewable integration.

In mid-December, shareholders of record received a quarterly dividend of $0.85 per share, reflecting an annualized payout of $3.40 and a yield of 3.4%, with a payout ratio near 59.4%. The dividend continues Con Edison’s track record of consistent distributions. On analyst coverage, three firms have Buy ratings, seven Hold and five Sell, yielding a consensus recommendation of “Reduce.” Recent target price revisions range from $92 to $114, with notable changes including Morgan Stanley’s $92 target and JPMorgan’s reduction from $101 to $97 on valuation concerns tied to regulatory approval timelines.