Hexavest Inc. lowered its stake in shares of Edison International (NYSE:EIX) by 35.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 584,745 shares of the utilities provider’s stock after selling 322,143 shares during the period. Hexavest Inc.’s holdings in Edison International were worth $45,721,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in the stock. Guardian Life Insurance Co. of America increased its stake 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 valued at $100,000 after buying an additional 8 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in shares of Edison International by 0.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 2,945 shares of the utilities provider’s stock valued at $234,000 after buying an additional 17 shares during the last quarter. Cleararc Capital Inc. increased its stake in shares of Edison International by 0.5% in the first quarter. Cleararc Capital Inc. now owns 7,944 shares of the utilities provider’s stock valued at $632,000 after buying an additional 42 shares during the last quarter. Baystate Wealth Management LLC increased its stake in shares of Edison International by 1.6% in the first quarter. Baystate Wealth Management LLC now owns 3,092 shares of the utilities provider’s stock valued at $250,000 after buying an additional 50 shares during the last quarter. Finally, CENTRAL TRUST Co increased its stake in shares of Edison International by 2.4% in the first quarter. CENTRAL TRUST Co now owns 2,986 shares of the utilities provider’s stock valued at $237,000 after buying an additional 70 shares during the last quarter. Institutional investors own 82.45% of the company’s stock.
Shares of Edison International (NYSE EIX) traded up 0.10% on Monday, hitting $76.91. The company’s stock had a trading volume of 290,950 shares. The stock’s 50-day moving average price is $80.18 and its 200-day moving average price is $77.33. Edison International has a 52 week low of $67.44 and a 52 week high of $82.82. The firm has a market cap of $25.06 billion, a price-to-earnings ratio of 18.22 and a beta of 0.22.
Edison International (NYSE:EIX) last released its quarterly earnings data on Monday, May 1st. The utilities provider reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.21. The business had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.71 billion. Edison International had a return on equity of 10.78% and a net margin of 12.82%. Edison International’s revenue was up .9% compared to the same quarter last year. During the same period last year, the firm posted $0.82 earnings per share. Equities analysts expect that Edison International will post $4.21 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 31st. Investors of record on Friday, June 30th will be paid a $0.5425 dividend. This represents a $2.17 annualized dividend and a yield of 2.82%. The ex-dividend date is Wednesday, June 28th. Edison International’s dividend payout ratio (DPR) is presently 50.94%.
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Several equities research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Edison International from a “buy” rating to a “hold” rating in a research note on Friday. BidaskClub downgraded shares of Edison International from a “hold” rating to a “sell” rating in a research note on Tuesday, June 13th. Jefferies Group LLC reiterated a “hold” rating and set a $83.00 price target (up previously from $80.00) on shares of Edison International in a research note on Tuesday, May 2nd. Deutsche Bank AG lifted their price target on shares of Edison International from $79.00 to $81.00 and gave the stock a “hold” rating in a research note on Tuesday, April 11th. Finally, Barclays PLC reiterated an “equal weight” rating and set a $84.00 price target (up previously from $78.00) on shares of Edison International in a research note on Sunday, April 23rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $82.86.
In related news, insider Ronald L. Litzinger sold 26,035 shares of the firm’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $78.85, for a total value of $2,052,859.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director W Brett White sold 2,500 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 2,500 shares in the company, valued at $204,175. The disclosure for this sale can be found here. Insiders sold 31,035 shares of company stock worth $2,460,285 over the last ninety days. 0.41% of the stock is currently owned by insiders.
About Edison International
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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