Sawtooth Solutions LLC grew its stake in Edison International (NYSE:EIX) by 23.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,241 shares of the utilities provider’s stock after acquiring an additional 1,167 shares during the quarter. Sawtooth Solutions LLC’s holdings in Edison International were worth $346,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Gemmer Asset Management LLC boosted its holdings in Edison International by 70.7% in the third quarter. Gemmer Asset Management LLC now owns 541 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 224 shares in the last quarter. Advisory Services Network LLC bought a new stake in Edison International in the second quarter worth $45,000. Strategic Blueprint LLC bought a new stake in Edison International in the second quarter worth $47,000. Clearstead Advisors LLC bought a new stake in Edison International in the second quarter worth $48,000. Finally, Berman Capital Advisors LLC boosted its holdings in Edison International by 46.5% in the third quarter. Berman Capital Advisors LLC now owns 870 shares of the utilities provider’s stock worth $48,000 after acquiring an additional 276 shares in the last quarter. 86.16% of the stock is currently owned by institutional investors and hedge funds.
Edison International stock opened at $63.75 on Friday. The stock has a market cap of $24.21 billion, a PE ratio of 31.72, a price-to-earnings-growth ratio of 3.33 and a beta of 0.66. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.63 and a current ratio of 0.67. Edison International has a one year low of $53.92 and a one year high of $68.62. The stock has a fifty day moving average of $66.05 and a 200 day moving average of $60.73.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 31st. Investors of record on Friday, December 31st will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 4.39%. The ex-dividend date of this dividend is Thursday, December 30th. This is a boost from Edison International’s previous quarterly dividend of $0.66. Edison International’s dividend payout ratio is 139.30%.
A number of research analysts have recently issued reports on the company. Wells Fargo & Company lowered their price target on Edison International from $72.00 to $70.00 and set an “overweight” rating on the stock in a report on Friday, September 17th. Argus upped their price target on Edison International from $68.00 to $73.00 and gave the company a “buy” rating in a report on Wednesday, December 29th. Finally, Morgan Stanley upped their price target on Edison International from $57.00 to $61.00 and gave the company an “equal weight” rating in a report on Tuesday, December 21st. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $67.29.
In other Edison International news, Director Peter J. Taylor sold 3,100 shares of the company’s stock in a transaction dated Wednesday, November 17th. The stock was sold at an average price of $63.56, for a total value of $197,036.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.73% of the stock is currently owned by corporate insiders.
Edison International Company Profile
Edison International is a renewable energy company, which through its subsidiaries, generates and distributes electric power, and invests in energy services and technologies. The company was founded on July 4, 1886 and is headquartered in Rosemead, CA.
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