Vinva Investment Management Ltd Boosts Stake in Edison International (NYSE:EIX)

Vinva Investment Management Ltd raised its position in Edison International (NYSE:EIX) by 32.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,023 shares of the utilities provider’s stock after purchasing an additional 3,209 shares during the quarter. Vinva Investment Management Ltd’s holdings in Edison International were worth $1,131,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of EIX. Highline Wealth Partners LLC purchased a new position in shares of Edison International during the third quarter worth approximately $26,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Edison International in the second quarter worth $27,000. Eastern Bank purchased a new position in shares of Edison International in the third quarter worth $27,000. Country Trust Bank purchased a new position in shares of Edison International in the second quarter worth $29,000. Finally, Farmers & Merchants Investments Inc. raised its holdings in shares of Edison International by 53.8% in the second quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock worth $29,000 after buying an additional 140 shares during the last quarter. 88.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Adam S. Umanoff sold 25,619 shares of Edison International stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $83.05, for a total value of $2,127,657.95. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on EIX. Morgan Stanley decreased their price target on shares of Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a report on Friday, November 22nd. Barclays raised their target price on shares of Edison International from $89.00 to $91.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Jefferies Financial Group started coverage on shares of Edison International in a report on Thursday, November 7th. They set a “buy” rating and a $93.00 target price for the company. Evercore ISI raised their target price on shares of Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th. Finally, Royal Bank of Canada raised their target price on shares of Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $88.75.

Edison International Stock Down 0.7 %

EIX opened at $87.75 on Friday. Edison International has a fifty-two week low of $63.15 and a fifty-two week high of $88.77. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. The company has a fifty day moving average of $84.89 and a two-hundred day moving average of $80.56. The stock has a market capitalization of $33.97 billion, a price-to-earnings ratio of 25.73, a PEG ratio of 2.11 and a beta of 0.92.

Edison International (NYSE:EIX) last released its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.13. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The company had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.01 billion. During the same quarter in the previous year, the company earned $1.38 earnings per share. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, research analysts expect that Edison International will post 4.94 earnings per share for the current year.

Edison International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 7th were given a $0.78 dividend. The ex-dividend date of this dividend was Monday, October 7th. This represents a $3.12 annualized dividend and a dividend yield of 3.56%. Edison International’s dividend payout ratio (DPR) is 91.50%.

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.