Ontario Teachers Pension Plan Board Sells 104,737 Shares of Edison International (NYSE:EIX)

Ontario Teachers Pension Plan Board reduced its position in Edison International (NYSE:EIX) by 76.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 32,772 shares of the utilities provider’s stock after selling 104,737 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Edison International were worth $2,854,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CreativeOne Wealth LLC acquired a new position in shares of Edison International during the 1st quarter worth about $230,000. Swedbank AB grew its stake in Edison International by 76.3% in the 2nd quarter. Swedbank AB now owns 446,637 shares of the utilities provider’s stock worth $32,073,000 after buying an additional 193,307 shares in the last quarter. Janus Henderson Group PLC raised its holdings in Edison International by 150.6% during the 1st quarter. Janus Henderson Group PLC now owns 169,742 shares of the utilities provider’s stock valued at $12,004,000 after buying an additional 102,000 shares during the last quarter. Ameritas Investment Partners Inc. grew its position in shares of Edison International by 165.5% in the 1st quarter. Ameritas Investment Partners Inc. now owns 11,309 shares of the utilities provider’s stock worth $800,000 after buying an additional 7,050 shares during the period. Finally, O Shaughnessy Asset Management LLC lifted its stake in Edison International by 88.5% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 19,265 shares of the utilities provider’s stock valued at $1,363,000 after acquiring an additional 9,044 shares during the period. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Edison International Stock Performance

EIX stock opened at $85.66 on Wednesday. The business’s fifty day moving average is $84.53 and its 200-day moving average is $79.90. The company has a market cap of $33.16 billion, a P/E ratio of 25.12, a price-to-earnings-growth ratio of 2.00 and a beta of 0.92. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. Edison International has a twelve month low of $63.15 and a twelve month high of $88.77.

Edison International (NYSE:EIX) last issued its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.13. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The firm had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.01 billion. During the same period last year, the business posted $1.38 earnings per share. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. Equities research analysts forecast that Edison International will post 4.95 EPS for the current year.

Edison International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 7th were given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date was Monday, October 7th. Edison International’s payout ratio is 91.50%.

Analyst Ratings Changes

EIX has been the subject of several analyst reports. Bank of America started coverage on shares of Edison International in a report on Thursday, September 12th. They issued a “buy” rating and a $95.00 target price for the company. Royal Bank of Canada upped their price objective on shares of Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Argus increased their target price on Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Morgan Stanley raised their target price on Edison International from $68.00 to $72.00 and gave the stock an “underweight” rating in a research note on Wednesday, September 25th. Finally, Jefferies Financial Group started coverage on Edison International in a research note on Thursday, November 7th. They issued a “buy” rating and a $93.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Edison International presently has an average rating of “Moderate Buy” and an average target price of $88.75.

Insider Buying and Selling

In other news, VP Adam S. Umanoff sold 25,619 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $83.05, for a total transaction of $2,127,657.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO J Andrew Murphy sold 1,362 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $85.00, for a total transaction of $115,770.00. Following the completion of the sale, the chief executive officer now directly owns 19,850 shares in the company, valued at approximately $1,687,250. This represents a 6.42 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,878 shares of company stock valued at $4,285,422. Company insiders own 1.20% of the company’s stock.

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.