Edison International (NYSE:EIX) Holdings Increased by PGGM Investments

PGGM Investments lifted its stake in Edison International (NYSE:EIX) by 2.2% in the first quarter, HoldingsChannel reports. The fund owned 15,821 shares of the utilities provider’s stock after purchasing an additional 340 shares during the quarter. PGGM Investments’ holdings in Edison International were worth $1,119,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Capital Research Global Investors lifted its position in Edison International by 1.7% in the first quarter. Capital Research Global Investors now owns 20,344,752 shares of the utilities provider’s stock worth $1,438,984,000 after purchasing an additional 345,189 shares during the period. Pzena Investment Management LLC lifted its holdings in shares of Edison International by 2.3% in the first quarter. Pzena Investment Management LLC now owns 13,605,080 shares of the utilities provider’s stock valued at $962,287,000 after buying an additional 305,459 shares during the period. Capital International Investors boosted its stake in Edison International by 6.4% during the first quarter. Capital International Investors now owns 13,297,917 shares of the utilities provider’s stock valued at $940,562,000 after buying an additional 795,950 shares in the last quarter. Wellington Management Group LLP grew its holdings in Edison International by 4.4% during the fourth quarter. Wellington Management Group LLP now owns 10,276,016 shares of the utilities provider’s stock worth $734,632,000 after acquiring an additional 433,845 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its position in Edison International by 4.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,261,803 shares of the utilities provider’s stock worth $376,166,000 after acquiring an additional 202,541 shares in the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Insider Transactions at Edison International

In related news, VP Natalie K. Schilling sold 2,341 shares of Edison International stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $80.00, for a total transaction of $187,280.00. Following the completion of the sale, the vice president now owns 6,338 shares of the company’s stock, valued at $507,040. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO J Andrew Murphy sold 58,099 shares of the firm’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $75.01, for a total transaction of $4,358,005.99. Following the transaction, the chief executive officer now owns 19,660 shares in the company, valued at approximately $1,474,696.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Natalie K. Schilling sold 2,341 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $80.00, for a total transaction of $187,280.00. Following the completion of the sale, the vice president now owns 6,338 shares of the company’s stock, valued at $507,040. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 141,738 shares of company stock valued at $10,916,903. 1.03% of the stock is owned by insiders.

Edison International Stock Up 0.8 %

Shares of Edison International stock opened at $82.27 on Friday. Edison International has a 1 year low of $58.82 and a 1 year high of $83.05. The company has a market cap of $31.77 billion, a P/E ratio of 36.08 and a beta of 0.91. The company has a current ratio of 1.03, a quick ratio of 0.96 and a debt-to-equity ratio of 2.04. The stock has a 50-day moving average price of $74.29 and a 200 day moving average price of $71.18.

Edison International (NYSE:EIX) last posted its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.18. The business had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.12 billion. Edison International had a net margin of 6.60% and a return on equity of 13.01%. The firm’s revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.01 earnings per share. As a group, analysts expect that Edison International will post 4.92 EPS for the current fiscal year.

Edison International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Monday, July 8th were issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.79%. The ex-dividend date was Monday, July 8th. Edison International’s dividend payout ratio is currently 136.84%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Argus raised their price objective on shares of Edison International from $78.00 to $82.00 and gave the company a “buy” rating in a research report on Wednesday, June 12th. Barclays lifted their price target on shares of Edison International from $75.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. Wells Fargo & Company increased their price objective on Edison International from $86.00 to $87.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Morgan Stanley decreased their target price on Edison International from $64.00 to $61.00 and set an “underweight” rating on the stock in a report on Monday, June 24th. Finally, Guggenheim upped their target price on Edison International from $80.00 to $83.00 and gave the company a “buy” rating in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $78.27.

Edison International Company Profile

Edison International, through its subsidiaries, engages in the generation and distribution of electric power. The company supplies and delivers electricity to approximately 50,000 square mile area of southern California to residential, commercial, industrial, public authorities, agricultural, and other sectors.