Rothschild Asset Management Inc. reduced its holdings in Edison International (NYSE:EIX) by 4.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 557,759 shares of the utilities provider’s stock after selling 27,375 shares during the quarter. Rothschild Asset Management Inc. owned about 0.17% of Edison International worth $43,043,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of EIX. Sun Life Financial INC boosted its position in shares of Edison International by 16,935.7% during the second quarter. Sun Life Financial INC now owns 2,385 shares of the utilities provider’s stock valued at $186,000 after purchasing an additional 2,371 shares in the last quarter. OxFORD Asset Management LLP bought a new stake in shares of Edison International during the second quarter valued at approximately $204,000. TCI Wealth Advisors Inc. boosted its position in shares of Edison International by 139.7% during the third quarter. TCI Wealth Advisors Inc. now owns 2,630 shares of the utilities provider’s stock valued at $203,000 after purchasing an additional 1,533 shares in the last quarter. Shelton Capital Management bought a new stake in shares of Edison International during the second quarter valued at approximately $206,000. Finally, Great Lakes Advisors LLC bought a new stake in shares of Edison International during the second quarter valued at approximately $207,000. Hedge funds and other institutional investors own 80.14% of the company’s stock.
Several equities research analysts recently weighed in on EIX shares. Mizuho restated a “buy” rating and set a $87.00 price target (up from $84.00) on shares of Edison International in a research report on Wednesday, August 23rd. BMO Capital Markets restated a “buy” rating and set a $85.00 price target on shares of Edison International in a research report on Thursday, August 17th. Jefferies Group LLC restated a “buy” rating on shares of Edison International in a research report on Thursday, August 17th. SunTrust Banks, Inc. restated a “buy” rating and set a $89.00 price target on shares of Edison International in a research report on Monday, October 2nd. Finally, Royal Bank Of Canada restated a “buy” rating and set a $84.00 price target on shares of Edison International in a research report on Sunday, September 17th. Nine investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $85.08.
Edison International (NYSE EIX) traded down $0.46 during mid-day trading on Tuesday, hitting $80.43. The stock had a trading volume of 1,342,900 shares, compared to its average volume of 1,686,654. Edison International has a 52-week low of $67.73 and a 52-week high of $83.38. The company has a quick ratio of 0.47, a current ratio of 0.51 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $26,350.00, a PE ratio of 18.43, a P/E/G ratio of 2.94 and a beta of 0.24.
Edison International (NYSE:EIX) last posted its quarterly earnings results on Monday, October 30th. The utilities provider reported $1.43 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.10. Edison International had a return on equity of 10.84% and a net margin of 13.18%. The firm had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.53 billion. During the same quarter in the previous year, the business earned $1.29 earnings per share. The company’s revenue was down 2.5% on a year-over-year basis. analysts expect that Edison International will post 4.31 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th were paid a $0.5425 dividend. This represents a $2.17 annualized dividend and a dividend yield of 2.70%. The ex-dividend date of this dividend was Thursday, September 28th. Edison International’s dividend payout ratio is currently 49.54%.
In other news, insider Ronald L. Litzinger sold 224,718 shares of the business’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $82.00, for a total value of $18,426,876.00. Following the completion of the transaction, the insider now owns 14,121 shares in the company, valued at $1,157,922. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.41% of the stock is owned by insiders.
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Edison International Company Profile
Edison International is the holding company of Southern California Edison Company (SCE). As of December 31, 2016, SCE, a public utility, was primarily engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area of southern California. The Company is also the parent company of Edison Energy Group, Inc (Edison Energy Group), a holding company for subsidiaries engaged in pursuing competitive business opportunities across energy services and distributed solar to commercial and industrial customers.
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