Edison International (EIX) Holdings Cut by Vaughan David Investments Inc. IL
Vaughan David Investments Inc. IL lessened its holdings in Edison International (NYSE:EIX) by 38.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,405 shares of the utilities provider’s stock after selling 2,085 shares during the quarter. Vaughan David Investments Inc. IL’s holdings in Edison International were worth $291,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also made changes to their positions in EIX. Wetherby Asset Management Inc. lifted its position in shares of Edison International by 0.3% during the 2nd quarter. Wetherby Asset Management Inc. now owns 3,824 shares of the utilities provider’s stock valued at $299,000 after buying an additional 12 shares during the last quarter. HL Financial Services LLC lifted its holdings in Edison International by 2.7% during the 2nd quarter. HL Financial Services LLC now owns 2,681 shares of the utilities provider’s stock worth $210,000 after purchasing an additional 70 shares in the last quarter. Cutter & CO Brokerage Inc. lifted its holdings in Edison International by 1.6% during the 2nd quarter. Cutter & CO Brokerage Inc. now owns 4,635 shares of the utilities provider’s stock worth $362,000 after purchasing an additional 75 shares in the last quarter. Veritable L.P. lifted its holdings in Edison International by 0.8% during the 2nd quarter. Veritable L.P. now owns 10,853 shares of the utilities provider’s stock worth $849,000 after purchasing an additional 84 shares in the last quarter. Finally, Breton Hill Capital Ltd. lifted its holdings in Edison International by 3.3% during the 2nd quarter. Breton Hill Capital Ltd. now owns 2,948 shares of the utilities provider’s stock worth $231,000 after purchasing an additional 95 shares in the last quarter. Hedge funds and other institutional investors own 80.88% of the company’s stock.
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Shares of Edison International (NYSE:EIX) traded down $0.86 during trading hours on Friday, reaching $80.89. The company’s stock had a trading volume of 1,395,112 shares, compared to its average volume of 1,688,196. The stock has a market capitalization of $26,640.00, a PE ratio of 18.83, a price-to-earnings-growth ratio of 3.01 and a beta of 0.24. Edison International has a 1-year low of $67.73 and a 1-year high of $83.38. The company has a quick ratio of 0.47, a current ratio of 0.51 and a debt-to-equity ratio of 0.80.
Edison International (NYSE:EIX) last announced its quarterly earnings data on Monday, October 30th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.10. The business had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.53 billion. Edison International had a return on equity of 10.84% and a net margin of 13.18%. The firm’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.29 earnings per share. sell-side analysts predict that Edison International will post 4.31 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th were issued a $0.5425 dividend. This represents a $2.17 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date of this dividend was Thursday, September 28th. Edison International’s payout ratio is 49.54%.
Several research firms have weighed in on EIX. ValuEngine raised Edison International from a “hold” rating to a “buy” rating in a report on Wednesday. Jefferies Group LLC raised Edison International from a “hold” rating to a “buy” rating and raised their price target for the company from $85.00 to $90.00 in a report on Friday, August 11th. Morgan Stanley raised their price target on Edison International from $86.00 to $90.00 and gave the company an “equal weight” rating in a report on Thursday, August 10th. SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $89.00 price target on shares of Edison International in a report on Monday, October 2nd. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $85.00 price target on shares of Edison International in a report on Thursday, August 17th. Nine investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $85.08.
In other Edison International news, insider Ronald L. Litzinger sold 224,718 shares of Edison International stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $82.00, for a total value of $18,426,876.00. Following the completion of the sale, the insider now owns 14,121 shares of the company’s stock, valued at approximately $1,157,922. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.41% of the stock is currently owned by company 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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