In a recent transaction, John F. Killian, a director at Consolidated Edison Inc. (NYSE:ED), sold 1,500 shares of the company's common stock. The sale, which occurred on May 22, 2024, was executed at an average price of $97.12 per share, resulting in a total value of $145,680.
This sale follows Killian's acquisition of 1,761 shares on May 21, 2024, as part of an annual equity award. The shares, in the form of Deferred Stock Units (DSUs) under the Consolidated Edison Long Term Incentive Plan, were valued at $96.51 each, amounting to a total of $169,954.
Following the sale, Killian's holdings in Consolidated Edison stock amount to 38,495.632 shares. The transactions have been publicly disclosed in accordance with SEC regulations, providing investors with insight into the trading activities of the company's insiders.
Consolidated Edison, an energy company based in New York, is known for providing electric and gas services. The company's stock performance and insider trading activities are often monitored by investors seeking to understand market trends and the confidence levels of company executives in their firm's prospects.
The reported transactions are part of the routine financial activities of corporate directors and executives, who may buy or sell shares for reasons ranging from personal financial planning to portfolio diversification. Investors typically look at these trades to gauge insider sentiment and use this information as one of many factors in their investment decisions.
InvestingPro Insights
Consolidated Edison Inc. (NYSE:ED) has demonstrated a consistent commitment to its shareholders through its dividend policy. Notably, the company has achieved the remarkable milestone of raising its dividend for 49 consecutive years, underscoring a stable and reliable income stream for investors. This is a significant indicator of the company's financial health and its ability to generate sustained earnings over time.
In terms of financial metrics, Consolidated Edison currently boasts a market capitalization of $32.46 billion, reflecting its substantial presence in the energy sector. The company's price-to-earnings (P/E) ratio stands at 18.06, with a slight adjustment in the last twelve months as of Q1 2024 to 17.81. This valuation metric can help investors determine if the stock is priced fairly relative to its earnings. Additionally, the company's dividend yield as of the last recorded date is an attractive 3.45%, which is particularly appealing to income-focused investors.
Investors considering Consolidated Edison as a potential addition to their portfolios can benefit from additional insights available through InvestingPro. There are currently more tips and in-depth analysis to explore, which can be accessed at https://www.investing.com/pro/ED. For those interested in a subscription, use the coupon code PRONEWS24 to receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription, granting access to a broader range of InvestingPro Tips that can further inform investment decisions.
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