Van ECK Associates Corp Sells 12,438 Shares of Exelon Co. (NASDAQ:EXC)

Van ECK Associates Corp trimmed its stake in Exelon Co. (NASDAQ:EXC) by 4.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 239,333 shares of the company’s stock after selling 12,438 shares during the period. Van ECK Associates Corp’s holdings in Exelon were worth $8,592,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of EXC. Antonetti Capital Management LLC lifted its stake in Exelon by 98.8% in the third quarter. Antonetti Capital Management LLC now owns 805 shares of the company’s stock worth $30,000 after purchasing an additional 400 shares during the last quarter. Addison Advisors LLC lifted its stake in shares of Exelon by 50.3% during the 3rd quarter. Addison Advisors LLC now owns 825 shares of the company’s stock worth $31,000 after acquiring an additional 276 shares during the last quarter. Fortis Group Advisors LLC purchased a new position in Exelon during the 3rd quarter valued at $31,000. Bruce G. Allen Investments LLC bought a new position in Exelon in the 4th quarter valued at $34,000. Finally, Peoples Bank KS purchased a new stake in Exelon in the third quarter worth $38,000. Hedge funds and other institutional investors own 80.92% of the company’s stock.

Exelon Price Performance

Shares of EXC stock opened at $37.41 on Friday. The stock’s 50-day moving average is $36.92 and its 200 day moving average is $37.05. Exelon Co. has a 1-year low of $33.35 and a 1-year high of $43.53. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.03 and a quick ratio of 0.73. The company has a market cap of $37.39 billion, a P/E ratio of 16.13, a PEG ratio of 2.76 and a beta of 0.53.

Exelon (NASDAQ:EXC) last released its quarterly earnings results on Wednesday, February 21st. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.58 by $0.02. Exelon had a net margin of 10.44% and a return on equity of 9.27%. The business had revenue of $5.37 billion during the quarter, compared to analyst estimates of $3.87 billion. During the same period in the prior year, the firm posted $0.43 earnings per share. The company’s quarterly revenue was up 15.0% on a year-over-year basis. Research analysts predict that Exelon Co. will post 2.41 earnings per share for the current fiscal year.

Exelon Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Monday, May 13th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 4.06%. The ex-dividend date of this dividend is Friday, May 10th. Exelon’s dividend payout ratio is currently 65.52%.

Analyst Ratings Changes

A number of research firms have recently commented on EXC. Seaport Res Ptn cut shares of Exelon from a “buy” rating to a “neutral” rating in a report on Monday, January 8th. Wells Fargo & Company upped their target price on shares of Exelon from $39.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Friday. Barclays lifted their price target on shares of Exelon from $36.00 to $39.00 and gave the company an “overweight” rating in a research note on Thursday, March 14th. Scotiabank dropped their price objective on Exelon from $39.00 to $37.00 and set a “sector perform” rating on the stock in a research note on Monday, April 22nd. Finally, Mizuho raised Exelon from a “neutral” rating to a “buy” rating and lifted their target price for the company from $36.00 to $39.00 in a research report on Wednesday, January 10th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Exelon currently has an average rating of “Hold” and an average target price of $38.83.

Exelon Profile

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.