Gabelli Funds LLC lowered its holdings in Edison International (NYSE:EIX) by 1.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 720,000 shares of the utilities provider’s stock after selling 8,000 shares during the quarter. Gabelli Funds LLC owned 0.22% of Edison International worth $55,562,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. State of Wisconsin Investment Board raised its position in Edison International by 12.3% in the third quarter. State of Wisconsin Investment Board now owns 509,006 shares of the utilities provider’s stock valued at $39,280,000 after purchasing an additional 55,666 shares during the period. Stevens Capital Management LP raised its position in Edison International by 21.3% in the third quarter. Stevens Capital Management LP now owns 123,953 shares of the utilities provider’s stock valued at $9,565,000 after purchasing an additional 21,769 shares during the period. Old Mutual Global Investors UK Ltd. raised its position in Edison International by 46.3% in the third quarter. Old Mutual Global Investors UK Ltd. now owns 792,119 shares of the utilities provider’s stock valued at $61,127,000 after purchasing an additional 250,513 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in Edison International by 3.6% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 48,765 shares of the utilities provider’s stock valued at $3,763,000 after purchasing an additional 1,674 shares during the period. Finally, State Board of Administration of Florida Retirement System raised its position in Edison International by 1.1% in the third quarter. State Board of Administration of Florida Retirement System now owns 498,838 shares of the utilities provider’s stock valued at $38,495,000 after purchasing an additional 5,450 shares during the period. Institutional investors own 81.68% of the company’s stock.

A number of research firms have commented on EIX. SunTrust Banks, Inc. restated a “buy” rating and issued a $89.00 target price on shares of Edison International in a research report on Monday, October 30th. Bank of America Corporation restated a “buy” rating and issued a $86.00 target price on shares of Edison International in a research report on Tuesday, October 24th. Citigroup Inc. lifted their target price on Edison International from $84.00 to $87.00 and gave the company a “neutral” rating in a research report on Tuesday, October 17th. Mizuho restated a “buy” rating and issued a $86.00 target price on shares of Edison International in a research report on Monday, October 9th. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $84.00 target price on shares of Edison International in a research report on Sunday, September 17th. Nine research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $85.08.

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In related news, insider Ronald L. Litzinger sold 224,715 shares of Edison International stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $80.54, for a total transaction of $18,098,546.10. Following the transaction, the insider now owns 14,121 shares in the company, valued at $1,137,305.34. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.41% of the company’s stock.

Edison International (EIX) traded down $0.67 on Tuesday, reaching $78.85. The company had a trading volume of 927,103 shares, compared to its average volume of 1,700,000. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.51 and a quick ratio of 0.47. The firm has a market cap of $25,730.00, a PE ratio of 18.11, a price-to-earnings-growth ratio of 2.88 and a beta of 0.24. Edison International has a 1 year low of $67.44 and a 1 year high of $82.82.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Monday, October 30th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.10. The firm had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.53 billion. Edison International had a return on equity of 10.84% and a net margin of 13.18%. The business’s revenue was down 2.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.29 earnings per share. equities research analysts anticipate that Edison International will post 4.33 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 31st. Investors of record on Friday, September 29th were given a dividend of $0.5425 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $2.17 dividend on an annualized basis and a yield of 2.75%. Edison International’s payout ratio is 49.54%.

Edison International Profile

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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Institutional Ownership by Quarter for Edison International (NYSE:EIX)

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