Robeco Institutional Asset Management B.V. Grows Holdings in Edison International (NYSE:EIX)

Robeco Institutional Asset Management B.V. grew its position in shares of Edison International (NYSE:EIX) by 11.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 873,075 shares of the utilities provider’s stock after purchasing an additional 91,339 shares during the period. Robeco Institutional Asset Management B.V. owned 0.23% of Edison International worth $69,706,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of EIX. State Street Corp grew its stake in Edison International by 0.7% in the 3rd quarter. State Street Corp now owns 32,549,936 shares of the utilities provider’s stock worth $2,834,774,000 after acquiring an additional 224,337 shares during the period. FMR LLC grew its position in shares of Edison International by 8.7% in the third quarter. FMR LLC now owns 21,800,874 shares of the utilities provider’s stock valued at $1,898,638,000 after purchasing an additional 1,741,835 shares during the period. Geode Capital Management LLC increased its stake in Edison International by 2.2% in the third quarter. Geode Capital Management LLC now owns 9,620,520 shares of the utilities provider’s stock valued at $835,142,000 after purchasing an additional 210,461 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Edison International by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,340,116 shares of the utilities provider’s stock worth $203,801,000 after buying an additional 28,240 shares during the period. Finally, abrdn plc boosted its stake in Edison International by 166.4% in the 3rd quarter. abrdn plc now owns 1,418,526 shares of the utilities provider’s stock worth $123,149,000 after buying an additional 885,955 shares during the last quarter. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Edison International Price Performance

EIX stock opened at $55.79 on Thursday. The firm has a market cap of $21.60 billion, a P/E ratio of 16.36, a price-to-earnings-growth ratio of 1.20 and a beta of 0.93. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. Edison International has a 1 year low of $55.27 and a 1 year high of $88.77. The stock has a 50-day simple moving average of $76.07 and a 200-day simple moving average of $80.73.

Edison International (NYSE:EIX) last issued its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.13. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.01 billion. During the same quarter last year, the company earned $1.38 earnings per share. Edison International’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, equities analysts predict that Edison International will post 4.94 earnings per share for the current fiscal year.

Edison International Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, January 7th will be issued a dividend of $0.8275 per share. This represents a $3.31 dividend on an annualized basis and a yield of 5.93%. This is a positive change from Edison International’s previous quarterly dividend of $0.78. The ex-dividend date is Tuesday, January 7th. Edison International’s dividend payout ratio (DPR) is presently 97.07%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Wells Fargo & Company upped their price objective on shares of Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. LADENBURG THALM/SH SH raised shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price target for the company in a research report on Wednesday, January 15th. Royal Bank of Canada lifted their price target on shares of Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Jefferies Financial Group assumed coverage on shares of Edison International in a research note on Thursday, November 7th. They set a “buy” rating and a $93.00 price objective for the company. Finally, Barclays cut their target price on Edison International from $76.00 to $67.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $82.88.

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.