Lombard Odier Asset Management Switzerland SA Buys New Position in Edison International $EIX

Lombard Odier Asset Management Switzerland SA acquired a new position in shares of Edison International (NYSE:EIX) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,235 shares of the utilities provider’s stock, valued at approximately $1,115,000.

Other hedge funds have also added to or reduced their stakes in the company. 10Elms LLP acquired a new position in shares of Edison International during the fourth quarter valued at about $26,000. Transamerica Financial Advisors LLC grew its stake in Edison International by 170.3% in the fourth quarter. Transamerica Financial Advisors LLC now owns 446 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 281 shares during the period. Quest 10 Wealth Builders Inc. grew its stake in Edison International by 866.7% in the fourth quarter. Quest 10 Wealth Builders Inc. now owns 783 shares of the utilities provider’s stock valued at $47,000 after acquiring an additional 702 shares during the period. DV Equities LLC bought a new stake in shares of Edison International during the fourth quarter valued at approximately $52,000. Finally, McMillan Office Inc. acquired a new position in shares of Edison International during the fourth quarter worth approximately $55,000. 88.95% of the stock is currently owned by institutional investors.

Edison International Stock Performance

Shares of EIX opened at $78.64 on Tuesday. The company has a current ratio of 0.74, a quick ratio of 0.68 and a debt-to-equity ratio of 1.98. The company has a market capitalization of $30.26 billion, a price-to-earnings ratio of 8.54, a PEG ratio of 6.20 and a beta of 0.66. The stock has a 50 day moving average of $73.76 and a 200 day moving average of $70.58. Edison International has a 12 month low of $51.01 and a 12 month high of $80.90.

Edison International (NYSE:EIX) last posted its quarterly earnings data on Tuesday, April 28th. The utilities provider reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.10. Edison International had a return on equity of 14.56% and a net margin of 19.27%.The business had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.15 billion. During the same quarter in the previous year, the firm earned $1.37 earnings per share. The business’s revenue was up 7.7% on a year-over-year basis. As a group, sell-side analysts forecast that Edison International will post 6.13 earnings per share for the current year.

Edison International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, July 7th will be given a dividend of $0.8775 per share. The ex-dividend date of this dividend is Tuesday, July 7th. This represents a $3.51 annualized dividend and a dividend yield of 4.5%. Edison International’s dividend payout ratio (DPR) is currently 38.11%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Truist Financial decreased their price target on shares of Edison International from $82.00 to $79.00 and set a “hold” rating for the company in a research note on Monday, May 18th. Bank of America lowered their target price on shares of Edison International from $80.00 to $78.00 and set a “buy” rating on the stock in a report on Monday, April 20th. Seaport Research Partners cut shares of Edison International from a “buy” rating to a “neutral” rating in a research report on Monday, April 20th. Wells Fargo & Company reiterated an “underweight” rating and set a $62.00 price target on shares of Edison International in a research note on Tuesday, April 21st. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Edison International in a report on Monday, July 13th. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $72.64.

About Edison International

Edison International is a publicly traded utility holding company based in Rosemead, California, whose principal subsidiary is Southern California Edison (SCE). As an electric utility holding company, Edison International oversees the delivery of electricity through SCE’s integrated network of generation procurement, transmission and distribution infrastructure, serving millions of customers across central, coastal and southern California. The company’s operations focus on reliable energy delivery, customer service, regulatory compliance and long-term infrastructure planning for a complex and high-demand service territory.

The company’s activities include procuring and managing a diverse resource mix, maintaining and upgrading transmission and distribution systems, and implementing grid modernization projects.