Pitcairn Co. Makes New $229,000 Investment in Exelon Co. (NASDAQ:EXC)

Pitcairn Co. bought a new stake in shares of Exelon Co. (NASDAQ:EXC) in the third quarter, Holdings Channel.com reports. The fund bought 5,646 shares of the company’s stock, valued at approximately $229,000.

A number of other hedge funds have also recently made changes to their positions in the stock. American National Bank & Trust boosted its position in Exelon by 178.8% in the 3rd quarter. American National Bank & Trust now owns 697 shares of the company’s stock valued at $28,000 after buying an additional 447 shares during the period. Versant Capital Management Inc raised its stake in shares of Exelon by 646.2% during the second quarter. Versant Capital Management Inc now owns 776 shares of the company’s stock valued at $27,000 after acquiring an additional 672 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of Exelon in the third quarter valued at approximately $32,000. J.Safra Asset Management Corp bought a new position in Exelon in the second quarter worth approximately $28,000. Finally, Abound Wealth Management increased its holdings in Exelon by 502.7% during the 2nd quarter. Abound Wealth Management now owns 892 shares of the company’s stock worth $31,000 after purchasing an additional 744 shares during the period. 80.92% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on EXC. UBS Group increased their price target on Exelon from $40.00 to $43.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Wells Fargo & Company increased their target price on shares of Exelon from $40.00 to $42.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Jefferies Financial Group initiated coverage on shares of Exelon in a report on Thursday, September 19th. They issued a “buy” rating and a $46.00 price target for the company. Scotiabank increased their price objective on shares of Exelon from $37.00 to $40.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. Finally, Barclays boosted their price objective on shares of Exelon from $41.00 to $44.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 15th. Eleven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $41.25.

Exelon Price Performance

Shares of EXC opened at $39.51 on Thursday. The firm has a market capitalization of $39.70 billion, a PE ratio of 16.26, a price-to-earnings-growth ratio of 2.79 and a beta of 0.54. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.09 and a quick ratio of 0.97. The company’s fifty day moving average price is $39.60 and its 200-day moving average price is $37.86. Exelon Co. has a 1-year low of $33.35 and a 1-year high of $41.42.

Exelon (NASDAQ:EXC) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.04. The firm had revenue of $6.15 billion during the quarter, compared to analysts’ expectations of $5.85 billion. Exelon had a return on equity of 9.47% and a net margin of 10.60%. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period last year, the business posted $0.67 earnings per share. On average, equities research analysts predict that Exelon Co. will post 2.45 EPS for the current year.

Exelon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, November 11th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.85%. Exelon’s payout ratio is currently 62.55%.

About Exelon

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.