Dimensional Fund Advisors LP increased its position in Edison International (NYSE:EIX) by 1.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 519,169 shares of the company’s stock after buying an additional 5,604 shares during the period. Dimensional Fund Advisors LP owned approximately 0.16% of Edison International worth $40,315,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of the company. Benjamin F. Edwards & Company Inc. increased its stake in shares of Edison International by 0.6% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,898 shares of the company’s stock worth $225,000 after buying an additional 16 shares in the last quarter. Baystate Wealth Management LLC increased its stake in shares of Edison International by 0.7% in the second quarter. Baystate Wealth Management LLC now owns 3,026 shares of the company’s stock worth $235,000 after buying an additional 20 shares in the last quarter. Security National Trust Co. increased its stake in shares of Edison International by 0.5% in the second quarter. Security National Trust Co. now owns 6,390 shares of the company’s stock worth $496,000 after buying an additional 30 shares in the last quarter. TIAA CREF Trust Co. FSB MO increased its stake in shares of Edison International by 0.3% in the second quarter. TIAA CREF Trust Co. FSB MO now owns 14,644 shares of the company’s stock worth $1,137,000 after buying an additional 46 shares in the last quarter. Finally, RNC Capital Management LLC increased its stake in shares of Edison International by 1.1% in the second quarter. RNC Capital Management LLC now owns 7,034 shares of the company’s stock worth $546,000 after buying an additional 75 shares in the last quarter. 81.90% of the stock is currently owned by institutional investors and hedge funds.
Shares of Edison International (NYSE:EIX) opened at 70.85 on Monday. The firm’s 50-day moving average price is $72.40 and its 200-day moving average price is $73.15. The firm has a market capitalization of $23.08 billion, a P/E ratio of 26.27 and a beta of 0.23. Edison International has a one year low of $57.51 and a one year high of $78.72.
Edison International (NYSE:EIX) last announced its earnings results on Thursday, July 28th. The company reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by $0.12. Edison International had a return on equity of 9.13% and a net margin of 8.56%. The company earned $2.78 billion during the quarter, compared to analysts’ expectations of $3.18 billion. During the same quarter last year, the firm posted $1.16 earnings per share. The firm’s revenue was down 4.5% on a year-over-year basis. On average, equities analysts forecast that Edison International will post $3.91 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Friday, September 30th will be given a $0.48 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.92 annualized dividend and a yield of 2.71%. Edison International’s dividend payout ratio (DPR) is presently 71.11%.
A number of equities research analysts recently issued reports on the company. Deutsche Bank AG set a $78.00 price target on Edison International and gave the stock a “hold” rating in a research report on Sunday, September 4th. Zacks Investment Research cut Edison International from a “buy” rating to a “hold” rating in a research note on Friday. Jefferies Group restated a “hold” rating and set a $80.00 target price on shares of Edison International in a research note on Friday, September 2nd. BMO Capital Markets restated an “outperform” rating and set a $82.00 target price (up from $79.00) on shares of Edison International in a research note on Monday, August 1st. Finally, Citigroup Inc. upped their target price on Edison International from $70.00 to $79.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 20th. Ten investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $76.79.
In other Edison International news, Director Jagjeet S. Bindra sold 3,995 shares of the business’s stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $73.80, for a total value of $294,831.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ellen O. Tauscher sold 3,012 shares of the business’s stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $71.87, for a total transaction of $216,472.44. The disclosure for this sale can be found here. 1.51% of the stock is currently owned by corporate insiders.
Edison International Company Profile
Edison International is the parent holding company of Southern California Edison Company (SCE). SCE is engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area of southern California. It is also the parent company of subsidiaries that are engaged in competitive businesses focused on providing energy services to commercial and industrial customers, including distributed resources, engaging in transmission opportunities, and exploring distributed water treatment and recycling.
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