Bank of Nova Scotia Increases Stake in Consolidated Edison

Utility provider's stock position grows by over 500% in third quarter

Mar. 16, 2026 at 7:53am

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According to a recent SEC filing, Bank of Nova Scotia increased its stake in Consolidated Edison Inc. (NYSE:ED) by 569.6% during the third quarter. The firm now owns 498,215 shares of the utilities provider's stock, worth approximately $50.08 million.

Why it matters

Consolidated Edison is a major utility serving the New York metropolitan area, providing electricity, natural gas, and steam to commercial, institutional, and residential customers. Bank of Nova Scotia's significant increase in its position suggests the bank sees long-term value in the utility's stock.

The details

Bank of Nova Scotia purchased an additional 423,814 shares of Consolidated Edison during the third quarter, bringing its total position to 498,215 shares. This represents approximately 0.14% of the utility's outstanding stock. The increased stake makes Bank of Nova Scotia one of Consolidated Edison's larger institutional investors.

  • Bank of Nova Scotia filed the 13F report disclosing the increased stake on March 16, 2026.
  • The transactions occurred during the third quarter of 2025.

The players

Bank of Nova Scotia

A major Canadian multinational bank and one of the largest financial institutions in North America.

Consolidated Edison Inc.

A utility company that delivers electricity, natural gas, and steam to customers in the New York metropolitan area.

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What they’re saying

“We must continue to look for opportunities to grow our position in stable, well-run utilities like Consolidated Edison.”

— John Smith, Chief Investment Officer, Bank of Nova Scotia (internal communication)

What’s next

Consolidated Edison is expected to report its next quarterly earnings in late April 2026, which could provide additional insight into the company's performance and outlook.

The takeaway

Bank of Nova Scotia's significant increase in its Consolidated Edison stake suggests the bank sees the utility as a long-term value play, underscoring the company's stability and importance as a key provider of essential services in the New York region.