World Asset Management Inc grew its stake in shares of Edison International (NYSE:EIX) by 10.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,823 shares of the utilities provider’s stock after acquiring an additional 2,431 shares during the period. World Asset Management Inc’s holdings in Edison International were worth $1,948,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Coastal Investment Advisors Inc. purchased a new stake in shares of Edison International during the second quarter worth $32,000. Trust Co. of Vermont lifted its position in shares of Edison International by 101.2% during the second quarter. Trust Co. of Vermont now owns 497 shares of the utilities provider’s stock worth $34,000 after acquiring an additional 250 shares in the last quarter. River & Mercantile Asset Management LLP purchased a new stake in shares of Edison International during the second quarter worth $34,000. Sandy Spring Bank lifted its position in shares of Edison International by 220.9% during the second quarter. Sandy Spring Bank now owns 552 shares of the utilities provider’s stock worth $37,000 after acquiring an additional 380 shares in the last quarter. Finally, FinTrust Capital Advisors LLC lifted its position in shares of Edison International by 189.2% during the second quarter. FinTrust Capital Advisors LLC now owns 645 shares of the utilities provider’s stock worth $43,000 after acquiring an additional 422 shares in the last quarter. Hedge funds and other institutional investors own 77.93% of the company’s stock.
NYSE EIX traded down $0.26 during trading hours on Thursday, reaching $72.16. 70,467 shares of the stock traded hands, compared to its average volume of 1,913,205. The stock has a 50 day simple moving average of $72.78 and a two-hundred day simple moving average of $67.77. Edison International has a 1 year low of $45.50 and a 1 year high of $76.45. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.69 and a quick ratio of 0.64. The company has a market cap of $25.32 billion, a price-to-earnings ratio of 17.39, a price-to-earnings-growth ratio of 2.89 and a beta of 0.10.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be given a dividend of $0.613 per share. This is an increase from Edison International’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.45 dividend on an annualized basis and a yield of 3.40%. Edison International’s dividend payout ratio (DPR) is presently 59.04%.
A number of equities research analysts recently issued reports on EIX shares. Mizuho lowered their price objective on Edison International from $86.00 to $84.00 and set a “buy” rating on the stock in a research report on Friday, October 18th. Wells Fargo & Co set a $73.00 price objective on Edison International and gave the stock a “hold” rating in a research report on Friday, July 26th. Barclays increased their price objective on Edison International from $72.00 to $73.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 4th. Royal Bank of Canada increased their price objective on Edison International to $79.00 and gave the stock an “outperform” rating in a research report on Monday, September 30th. They noted that the move was a valuation call. Finally, UBS Group increased their price objective on Edison International from $77.00 to $81.00 and gave the stock a “buy” rating in a research report on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company’s stock. Edison International has a consensus rating of “Hold” and an average price target of $74.09.
Edison International Profile
Edison International, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in the United States. It generates electricity through hydroelectric, diesel/liquid petroleum gas, natural gas, nuclear, and photovoltaic sources. The company supplies electricity primarily to residential, commercial, industrial, agricultural, and other customers, as well as public authorities through transmission and distribution networks.
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