Victory Capital Management Inc. Has $42.91 Million Position in Edison International (NYSE:EIX)

Victory Capital Management Inc. boosted its position in Edison International (NYSE:EIX) by 27.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 600,168 shares of the utilities provider’s stock after buying an additional 129,101 shares during the quarter. Victory Capital Management Inc. owned approximately 0.16% of Edison International worth $42,906,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Gibraltar Capital Management Inc. raised its position in Edison International by 1.5% in the 4th quarter. Gibraltar Capital Management Inc. now owns 11,599 shares of the utilities provider’s stock valued at $829,000 after buying an additional 174 shares during the last quarter. Mission Wealth Management LP raised its position in Edison International by 37.4% in the 4th quarter. Mission Wealth Management LP now owns 8,492 shares of the utilities provider’s stock valued at $607,000 after buying an additional 2,310 shares during the last quarter. Duff & Phelps Investment Management Co. raised its position in Edison International by 24.4% in the 4th quarter. Duff & Phelps Investment Management Co. now owns 366,816 shares of the utilities provider’s stock valued at $26,224,000 after buying an additional 71,962 shares during the last quarter. Kestra Private Wealth Services LLC raised its position in Edison International by 169.9% in the 4th quarter. Kestra Private Wealth Services LLC now owns 17,800 shares of the utilities provider’s stock valued at $1,273,000 after buying an additional 11,204 shares during the last quarter. Finally, PGGM Investments raised its position in Edison International by 7.7% in the 4th quarter. PGGM Investments now owns 15,481 shares of the utilities provider’s stock valued at $1,107,000 after buying an additional 1,105 shares during the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. The Goldman Sachs Group began coverage on Edison International in a research report on Wednesday, April 10th. They issued a “neutral” rating and a $78.00 target price on the stock. TheStreet lowered Edison International from a “b” rating to a “c+” rating in a research report on Thursday, February 22nd. StockNews.com raised Edison International from a “sell” rating to a “hold” rating in a research report on Saturday, February 24th. Royal Bank of Canada lowered their price target on Edison International from $81.00 to $80.00 and set an “outperform” rating on the stock in a research report on Thursday, March 7th. Finally, Mizuho lowered their price target on Edison International from $76.00 to $75.00 and set a “buy” rating on the stock in a research report on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Edison International currently has a consensus rating of “Hold” and an average target price of $72.78.

Edison International Stock Performance

Shares of NYSE EIX opened at $72.34 on Monday. The company has a current ratio of 1.00, a quick ratio of 0.93 and a debt-to-equity ratio of 2.04. Edison International has a 12 month low of $58.82 and a 12 month high of $74.40. The stock has a 50 day moving average of $69.41 and a 200-day moving average of $67.96. The company has a market capitalization of $27.83 billion, a P/E ratio of 31.73 and a beta of 0.95.

Edison International (NYSE:EIX) last released its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.01. The business had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.16 billion. Edison International had a return on equity of 12.48% and a net margin of 6.14%. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.09 EPS. As a group, equities research analysts predict that Edison International will post 4.92 EPS for the current year.

Edison International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Thursday, March 28th were paid a $0.78 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $3.12 annualized dividend and a yield of 4.31%. Edison International’s dividend payout ratio (DPR) is presently 136.84%.

About Edison International

Edison International, through its subsidiaries, engages in the generation and distribution of electric power. The company supplies and delivers electricity to approximately 50,000 square mile area of southern California to residential, commercial, industrial, public authorities, agricultural, and other sectors.