Comerica Bank trimmed its holdings in Edison International (NYSE:EIX) by 17.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 68,463 shares of the utilities provider’s stock after selling 14,478 shares during the quarter. Comerica Bank’s holdings in Edison International were worth $4,762,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Macquarie Group Ltd. grew its position in Edison International by 15.3% in the 2nd quarter. Macquarie Group Ltd. now owns 11,095,751 shares of the utilities provider’s stock valued at $702,028,000 after buying an additional 1,475,620 shares during the last quarter. Pzena Investment Management LLC grew its position in Edison International by 43.1% in the 2nd quarter. Pzena Investment Management LLC now owns 7,836,404 shares of the utilities provider’s stock valued at $495,809,000 after buying an additional 2,361,340 shares during the last quarter. Boston Partners grew its position in Edison International by 3.0% in the 2nd quarter. Boston Partners now owns 5,075,296 shares of the utilities provider’s stock valued at $321,114,000 after buying an additional 145,785 shares during the last quarter. American Century Companies Inc. grew its position in Edison International by 13.2% in the 2nd quarter. American Century Companies Inc. now owns 4,626,243 shares of the utilities provider’s stock valued at $292,702,000 after buying an additional 539,897 shares during the last quarter. Finally, Legal & General Group Plc grew its position in Edison International by 7.2% in the 2nd quarter. Legal & General Group Plc now owns 3,151,054 shares of the utilities provider’s stock valued at $199,336,000 after buying an additional 210,647 shares during the last quarter. 81.24% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts recently weighed in on the stock. ValuEngine lowered shares of Edison International from a “sell” rating to a “strong sell” rating in a research report on Friday. SunTrust Banks lowered their price objective on shares of Edison International to $75.00 and set a “buy” rating on the stock in a research report on Thursday. Edward Jones lowered shares of Edison International from a “hold” rating to a “sell” rating in a research report on Tuesday. Zacks Investment Research reiterated a “buy” rating and issued a $76.00 price objective on shares of Edison International in a research report on Tuesday. Finally, Argus lifted their price objective on shares of Edison International to $80.00 and gave the company a “buy” rating in a research report on Thursday, October 11th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $73.69.

Shares of NYSE EIX opened at $47.19 on Friday. The firm has a market cap of $18.10 billion, a price-to-earnings ratio of 12.92, a P/E/G ratio of 2.26 and a beta of 0.01. Edison International has a one year low of $45.50 and a one year high of $82.01. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.66 and a current ratio of 0.72.

Edison International (NYSE:EIX) last issued its earnings results on Tuesday, October 30th. The utilities provider reported $1.56 EPS for the quarter, topping the consensus estimate of $1.31 by $0.25. The company had revenue of $4.27 billion for the quarter, compared to analyst estimates of $3.47 billion. Edison International had a net margin of 4.47% and a return on equity of 10.61%. The business’s revenue was up 16.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.43 EPS. Analysts forecast that Edison International will post 4.14 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 31st. Shareholders of record on Friday, September 28th were given a dividend of $0.605 per share. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $2.42 annualized dividend and a dividend yield of 5.13%. Edison International’s payout ratio is currently 53.78%.

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Edison International Company Profile

Edison International, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in the United States. It generates electricity through hydroelectric, diesel/liquid petroleum gas, natural gas, nuclear, and photovoltaic sources. The company supplies electricity primarily to residential, commercial, industrial, agricultural, and other customers, as well as public authorities through transmission and distribution networks.

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

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