In the third quarter, Allspring Global Investments Holdings LLC trimmed its position in Consolidated Edison by 23.8%, selling 6,644 shares and ending the period with 21,286 shares outstanding. The divestiture reduced Allspring’s holdings to approximately $2.09 million in value at quarter end, reflecting the firm’s strategic portfolio rebalancing in the utilities sector. This move marks one of the more significant single-investor adjustments to Con Edison’s ownership base this reporting cycle.

Several other major asset managers adjusted their Con Edison positions in recent quarters. Vanguard Group increased its holdings by 4.5%, adding 1.92 million shares to reach a total of 45.04 million shares, while Geode Capital Management lifted its stake by 6.1%, acquiring 566,358 additional shares. New entrant Norges Bank established a fresh position valued at roughly $462 million, and Atlas Infrastructure Partners UK expanded by 4.8%. Collectively, these changes contributed to an institutional ownership level of 66.3%, underscoring continued confidence from large-scale investors despite mixed positioning.

Consolidated Edison reported third-quarter earnings per share of $1.90, surpassing consensus estimates of $1.76 by 14 cents, on revenues of $4.53 billion versus expectations of $4.22 billion. The utility achieved a net margin of 12.27% and a return on equity of 8.79%. Year-over-year, EPS rose from $1.68, driven by infrastructure spending and mild weather impacts. Management issued full-year 2025 EPS guidance in the range of 5.60 to 5.70, aligning closely with analyst forecasts of 5.62 and reflecting ongoing investments in grid modernization.

Consolidated Edison declared a quarterly dividend of $0.85 per share, representing an annualized payout of $3.40 and a payout ratio near 59.4%. The payment was made to shareholders of record on November 19 with a subsequent ex-dividend date on the same day. On the analyst front, the consensus recommendation sits at ‘Reduce’ following three buy, seven hold and five sell ratings. Price targets range narrowly around the mid-100s, reflecting balanced views on regulated rate risk and stable cash flows from essential service operations.