Meiji Yasuda Asset Management Co Ltd. reduced its position in Edison International (NYSE:EIX) by 6.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,038 shares of the utilities provider’s stock after selling 460 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Edison International were worth $560,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of EIX. Guardian Life Insurance Co. of America increased its position in shares of Edison International by 0.6% in the first quarter. Guardian Life Insurance Co. of America now owns 1,256 shares of the utilities provider’s stock worth $100,000 after buying an additional 8 shares during the period. Parallel Advisors LLC purchased a new position in shares of Edison International during the fourth quarter worth about $128,000. Jones Collombin Investment Counsel Inc increased its position in shares of Edison International by 69.4% in the first quarter. Jones Collombin Investment Counsel Inc now owns 1,745 shares of the utilities provider’s stock worth $139,000 after buying an additional 715 shares during the period. Van ECK Associates Corp increased its position in shares of Edison International by 24.6% in the fourth quarter. Van ECK Associates Corp now owns 2,387 shares of the utilities provider’s stock worth $172,000 after buying an additional 472 shares during the period. Finally, Wayne Hummer Investments L.L.C. purchased a new position in shares of Edison International during the first quarter worth about $200,000. Hedge funds and other institutional investors own 82.45% of the company’s stock.
Edison International (NYSE EIX) traded up 0.16% on Tuesday, hitting $82.03. 341,752 shares of the company were exchanged. Edison International has a 52 week low of $67.44 and a 52 week high of $82.82. The company has a market capitalization of $26.73 billion, a price-to-earnings ratio of 19.43 and a beta of 0.23. The stock has a 50 day moving average of $80.04 and a 200 day moving average of $76.83.
Edison International (NYSE:EIX) last announced its quarterly earnings data on Monday, May 1st. The utilities provider reported $1.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.21. The company had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.71 billion. Edison International had a return on equity of 10.78% and a net margin of 12.82%. Edison International’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.82 EPS. Analysts predict that Edison International will post $4.21 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 31st. Shareholders of record on Friday, June 30th will be given a $0.5425 dividend. This represents a $2.17 annualized dividend and a yield of 2.65%. The ex-dividend date of this dividend is Wednesday, June 28th. Edison International’s dividend payout ratio (DPR) is presently 50.94%.
EIX has been the topic of a number of recent analyst reports. Mizuho restated a “buy” rating and issued a $91.50 price target on shares of Edison International in a research report on Wednesday, April 19th. Royal Bank Of Canada restated a “buy” rating and issued a $84.00 price target on shares of Edison International in a research report on Friday, February 24th. Barclays PLC restated an “equal weight” rating and issued a $84.00 price target (up previously from $78.00) on shares of Edison International in a research report on Sunday, April 23rd. Jefferies Group LLC restated a “hold” rating and issued a $83.00 price target (up previously from $80.00) on shares of Edison International in a research report on Tuesday, May 2nd. Finally, Deutsche Bank AG boosted their price target on shares of Edison International from $79.00 to $81.00 and gave the stock a “hold” rating in a research report on Tuesday, April 11th. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Edison International currently has a consensus rating of “Hold” and an average target price of $82.41.
In other Edison International news, insider Ronald L. Litzinger sold 26,035 shares of the company’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $78.85, for a total value of $2,052,859.75. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director W Brett White sold 2,500 shares of the company’s stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $81.67, for a total value of $204,175.00. Following the completion of the transaction, the director now directly owns 2,500 shares in the company, valued at approximately $204,175. The disclosure for this sale can be found here. Insiders sold a total of 34,692 shares of company stock worth $2,752,845 in the last ninety days. 0.41% of the stock is currently owned by corporate insiders.
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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