Exelon Co. (NASDAQ:EXC) Shares Sold by DAVENPORT & Co LLC

Posted by on Oct 8th, 2023

DAVENPORT & Co LLC trimmed its stake in shares of Exelon Co. (NASDAQ:EXC – Free Report) by 7.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,470 shares of the company’s stock after selling 699 shares during the period. DAVENPORT & Co LLC’s holdings in Exelon were worth $345,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sei Investments Co. grew its holdings in Exelon by 117.0% during the first quarter. Sei Investments Co. now owns 570,911 shares of the company’s stock worth $23,915,000 after acquiring an additional 307,798 shares during the period. Wealthfront Advisers LLC boosted its position in Exelon by 3.1% during the first quarter. Wealthfront Advisers LLC now owns 43,752 shares of the company’s stock worth $1,833,000 after purchasing an additional 1,322 shares in the last quarter. Penserra Capital Management LLC purchased a new position in Exelon during the fourth quarter worth approximately $3,346,000. Vinva Investment Management Ltd purchased a new position in Exelon during the first quarter worth approximately $1,389,000. Finally, Principal Financial Group Inc. boosted its position in Exelon by 1.6% during the first quarter. Principal Financial Group Inc. now owns 1,138,565 shares of the company’s stock worth $47,694,000 after purchasing an additional 17,487 shares in the last quarter. 81.38% of the stock is owned by institutional investors and hedge funds.

Exelon Price Performance

NASDAQ:EXC opened at $38.08 on Friday. Exelon Co. has a one year low of $35.19 and a one year high of $44.37. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.86 and a current ratio of 0.95. The stock has a market cap of $37.90 billion, a PE ratio of 17.96, a P/E/G ratio of 2.52 and a beta of 0.63. The stock has a 50 day moving average price of $39.87 and a 200 day moving average price of $40.59.

Exelon (NASDAQ:EXC – Get Free Report) last posted its quarterly earnings results on Wednesday, August 2nd. The company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.40 by $0.01. Exelon had a return on equity of 9.20% and a net margin of 10.66%. The firm had revenue of $4.82 billion during the quarter, compared to analysts’ expectations of $4.22 billion. During the same quarter last year, the firm earned $0.44 earnings per share. The business’s revenue for the quarter was up 13.7% on a year-over-year basis. Equities research analysts expect that Exelon Co. will post 2.35 EPS for the current fiscal year.

Exelon Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Tuesday, August 15th were paid a dividend of $0.36 per share. The ex-dividend date of this dividend was Monday, August 14th. This represents a $1.44 annualized dividend and a yield of 3.78%. Exelon’s dividend payout ratio (DPR) is 67.92%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on EXC. Guggenheim upgraded Exelon from a “neutral” rating to a “buy” rating and set a $44.00 price target on the stock in a research report on Friday, July 7th. Morgan Stanley increased their price target on Exelon from $44.00 to $45.00 and gave the stock an “overweight” rating in a research report on Thursday, September 21st. StockNews.com began coverage on Exelon in a research report on Thursday. They set a “sell” rating on the stock. Barclays began coverage on Exelon in a research report on Wednesday, August 23rd. They set an “overweight” rating and a $43.00 price target on the stock. Finally, Royal Bank of Canada lowered their price target on Exelon from $47.00 to $45.00 and set a “sector perform” rating on the stock in a research report on Wednesday, September 6th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $44.20.

View Our Latest Research Report on EXC

About Exelon

(Free Report)

Exelon Corporation, a utility services holding company, engages in the energy distribution and transmission businesses in the United States and Canada. The company is involved in the purchase and regulated retail sale of electricity and natural gas, transmission and distribution of electricity, and distribution of natural gas to retail customers.

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Institutional Ownership by Quarter for Exelon (NASDAQ:EXC)

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