Edison International (EIX) Stake Increased by Strs Ohio
Strs Ohio boosted its stake in Edison International (NYSE:EIX) by 7.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 144,833 shares of the company’s stock after buying an additional 10,369 shares during the period. Strs Ohio’s holdings in Edison International were worth $11,249,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of the company. Integrated Investment Consultants LLC raised its stake in Edison International by 9.3% in the second quarter. Integrated Investment Consultants LLC now owns 2,001 shares of the company’s stock valued at $155,000 after buying an additional 170 shares during the last quarter. Invictus RG purchased a new stake in Edison International during the first quarter valued at about $178,000. Pitcairn Co. purchased a new stake in Edison International during the second quarter valued at about $202,000. Nikko Asset Management Americas Inc. bought a new position in Edison International during the first quarter valued at $193,000. Finally, Benjamin F. Edwards & Company Inc. increased its position in Edison International by 0.6% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,898 shares of the company’s stock valued at $225,000 after buying an additional 16 shares during the period. 81.95% of the stock is currently owned by institutional investors and hedge funds.
Edison International (NYSE:EIX) traded down 0.59% during trading on Friday, hitting $72.25. 1,734,361 shares of the company were exchanged. The company has a market capitalization of $23.54 billion, a price-to-earnings ratio of 26.79 and a beta of 0.17. The company has a 50-day moving average of $73.57 and a 200-day moving average of $73.23. Edison International has a 12 month low of $57.51 and a 12 month high of $78.72.
Edison International (NYSE:EIX) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by $0.12. Edison International had a net margin of 8.56% and a return on equity of 9.13%. The business earned $2.78 billion during the quarter, compared to analysts’ expectations of $3.18 billion. During the same period last year, the company earned $1.16 EPS. The firm’s revenue for the quarter was down 4.5% on a year-over-year basis. Analysts forecast that Edison International will post $3.89 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, September 30th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 2.66%. The ex-dividend date is Wednesday, September 28th. Edison International’s dividend payout ratio (DPR) is presently 71.11%.
Several research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Edison International from a “hold” rating to a “buy” rating and set a $85.00 price target for the company in a research report on Tuesday. SunTrust Banks Inc. upped their price target on shares of Edison International from $82.00 to $84.00 and gave the stock a “buy” rating in a research report on Monday, September 26th. Deutsche Bank AG set a $78.00 price target on shares of Edison International and gave the stock a “hold” rating in a research report on Sunday, September 4th. Jefferies Group restated a “hold” rating and set a $80.00 price target on shares of Edison International in a research report on Friday, September 2nd. Finally, BMO Capital Markets restated an “outperform” rating and set a $82.00 price target (up previously from $79.00) on shares of Edison International in a research report on Monday, August 1st. Nine equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $78.04.
In other news, Director Ellen O. Tauscher sold 3,012 shares of the business’s stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $71.87, for a total value of $216,472.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jagjeet S. Bindra sold 3,995 shares of the business’s stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $73.80, for a total transaction of $294,831.00. The disclosure for this sale can be found here. 1.51% of the stock is currently owned by company insiders.
About Edison International
Edison International is the parent holding company of Southern California Edison Company (SCE). SCE is engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area of southern California. It is also the parent company of subsidiaries that are engaged in competitive businesses focused on providing energy services to commercial and industrial customers, including distributed resources, engaging in transmission opportunities, and exploring distributed water treatment and recycling.
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