New York State Teachers Retirement System Decreases Holdings in Exelon Co. (NASDAQ:EXC)

Posted by Defense World Staff on Apr 10th, 2023

New York State Teachers Retirement System reduced its position in Exelon Co. (NASDAQ:EXC – Get Rating) by 7.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,174,033 shares of the company’s stock after selling 89,004 shares during the quarter. New York State Teachers Retirement System owned about 0.12% of Exelon worth $50,753,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in EXC. SVB Wealth LLC boosted its holdings in Exelon by 2.9% in the 1st quarter. SVB Wealth LLC now owns 7,714 shares of the company’s stock worth $367,000 after buying an additional 219 shares during the last quarter. First Financial Corp IN boosted its stake in shares of Exelon by 47.0% in the fourth quarter. First Financial Corp IN now owns 735 shares of the company’s stock worth $32,000 after acquiring an additional 235 shares during the last quarter. Moisand Fitzgerald Tamayo LLC boosted its stake in Exelon by 48.2% during the 4th quarter. Moisand Fitzgerald Tamayo LLC now owns 815 shares of the company’s stock worth $35,000 after purchasing an additional 265 shares during the last quarter. Baltimore Washington Financial Advisors Inc. raised its position in shares of Exelon by 3.9% in the first quarter. Baltimore Washington Financial Advisors Inc. now owns 7,110 shares of the company’s stock valued at $310,000 after buying an additional 266 shares during the last quarter. Finally, Bessemer Group Inc. lifted its stake in shares of Exelon by 1.7% in the third quarter. Bessemer Group Inc. now owns 16,268 shares of the company’s stock worth $610,000 after buying an additional 271 shares in the last quarter. 80.60% of the stock is owned by institutional investors and hedge funds.

Exelon Trading Up 0.3 %

NASDAQ EXC opened at $43.06 on Monday. Exelon Co. has a 12 month low of $35.19 and a 12 month high of $50.71. The stock has a market capitalization of $42.81 billion, a P/E ratio of 19.66, a PEG ratio of 2.76 and a beta of 0.61. The firm’s 50-day moving average is $41.41 and its two-hundred day moving average is $40.49. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.69 and a quick ratio of 0.62.

Exelon (NASDAQ:EXC – Get Rating) last posted its quarterly earnings data on Tuesday, February 14th. The company reported $0.43 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.43. The firm had revenue of $4.67 billion during the quarter, compared to analysts’ expectations of $4.14 billion. Exelon had a net margin of 11.37% and a return on equity of 9.30%. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the company posted $0.90 EPS. On average, sell-side analysts anticipate that Exelon Co. will post 2.35 earnings per share for the current year.

Exelon Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 10th. Investors of record on Monday, February 27th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 3.34%. The ex-dividend date was Friday, February 24th. This is an increase from Exelon’s previous quarterly dividend of $0.34. Exelon’s payout ratio is currently 65.75%.

Analyst Upgrades and Downgrades

A number of analysts have commented on EXC shares. Wells Fargo & Company cut their price objective on shares of Exelon from $47.00 to $45.00 in a report on Wednesday, February 15th. Credit Suisse Group lifted their price objective on Exelon from $42.00 to $46.00 and gave the stock an “outperform” rating in a research report on Monday, January 23rd. Morgan Stanley dropped their target price on Exelon from $49.00 to $46.00 and set an “overweight” rating for the company in a report on Tuesday, March 21st. Finally, BMO Capital Markets reduced their price target on Exelon from $46.00 to $45.00 and set an “outperform” rating on the stock in a report on Wednesday, February 15th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Exelon currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.36.

Insider Buying and Selling

In other Exelon news, CEO Carim V. Khouzami sold 6,000 shares of Exelon stock in a transaction dated Friday, March 17th. The stock was sold at an average price of $41.65, for a total value of $249,900.00. Following the completion of the transaction, the chief executive officer now directly owns 4,498 shares of the company’s stock, valued at approximately $187,341.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.18% of the stock is owned by corporate insiders.

About Exelon

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Exelon Corp. is a utility services holding company, which engages in the energy distribution and transmission businesses. It operates through the following segments: Commonwealth Edison Company (ComEd), PECO Energy Company (PECO), Baltimore Gas and Electric Company (BGE), Potomac Electric Power Company (Pepco), Delmarva Power & Light Company (DPL), and Atlantic City Electric Company (ACE).