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NEW YORK - Consolidated Edison, Inc. (NYSE:ED), a utility giant with a market capitalization of $37.5 billion and an impressive track record of 50 consecutive years of dividend increases, announced Wednesday that Brendan Cavanagh, President and Chief Executive Officer of SBA Communications Corporation (NASDAQ:SBAC), will join its Board of Directors effective October 1, 2025. According to InvestingPro data, the company currently trades above its Fair Value.
Cavanagh has served as CEO of SBA Communications, a real estate investment trust specializing in wireless communications infrastructure, since January 2024. Prior to his current role, he spent 15 years as the company’s Chief Financial Officer and held other senior leadership positions during his 27-year tenure at SBA, including Vice President and Chief Accounting Officer.
Before joining SBA, Cavanagh worked for Arthur Andersen in audit and assurance. He holds a bachelor’s degree in accounting from Wake Forest University and an MBA from Florida Atlantic University.
Con Edison is a holding company that provides energy services through its subsidiaries: Consolidated Edison Company of New York, which delivers electricity in New York City and Westchester County, gas service in parts of New York City, and steam service in Manhattan; Orange and Rockland Utilities, serving southeastern New York State and northern New Jersey; and Con Edison Transmission, which invests in electric transmission projects.
The announcement was made in a company press release issued Wednesday. Investors seeking detailed financial analysis and additional ProTips about Con Edison can access the complete Pro Research Report available exclusively on InvestingPro.
In other recent news, Consolidated Edison has declared a quarterly dividend of 85 cents per share on its common stock, set to be payable on September 15, 2025, to shareholders of record as of August 13, 2025. The company reported approximately $15 billion in annual revenues for the year ending December 31, 2024, and held $71 billion in assets as of March 31, 2025. In related developments, UBS analysts have maintained their Neutral rating for Consolidated Edison, keeping the price target at $112.00. This decision came after evaluating the New York Public Service Commission Staff’s recommendation concerning the CECONY electric and gas rate case. UBS noted that the allowed return on equity appears higher than recent regulatory models suggested, although the revenue increase was described as minimal. These developments provide investors with the latest insights into Consolidated Edison’s financial and operational standing.
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