Loomis Sayles & Co. L P Boosts Position in Edison International (NYSE:EIX)

Loomis Sayles & Co. L P increased its holdings in shares of Edison International (NYSE:EIX) by 4,668.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,774 shares of the utilities provider’s stock after purchasing an additional 8,590 shares during the quarter. Loomis Sayles & Co. L P’s holdings in Edison International were worth $764,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Edison International during the third quarter worth approximately $1,387,000. Swedbank AB increased its position in Edison International by 76.3% during the second 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 during the period. Janus Henderson Group PLC increased its position in Edison International by 150.6% during the first quarter. Janus Henderson Group PLC now owns 169,742 shares of the utilities provider’s stock worth $12,004,000 after buying an additional 102,000 shares during the period. Cetera Investment Advisers increased its position in Edison International by 955.8% during the first quarter. Cetera Investment Advisers now owns 104,805 shares of the utilities provider’s stock worth $7,413,000 after buying an additional 94,878 shares during the period. Finally, Baker Avenue Asset Management LP acquired a new position in Edison International during the third quarter worth approximately $2,291,000. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Stock Up 0.7 %

Edison International stock opened at $88.39 on Thursday. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. Edison International has a 1-year low of $63.15 and a 1-year high of $88.77. The company has a market cap of $34.22 billion, a PE ratio of 25.92, a price-to-earnings-growth ratio of 2.09 and a beta of 0.92. The stock’s 50 day moving average price is $84.76 and its 200 day moving average price is $80.41.

Edison International (NYSE:EIX) last posted its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.13. The company had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.01 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. Edison International’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.38 earnings per share. On average, sell-side analysts predict that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 7th were given a dividend of $0.78 per share. The ex-dividend date was Monday, October 7th. This represents a $3.12 dividend on an annualized basis and a yield of 3.53%. Edison International’s payout ratio is 91.50%.

Insiders Place Their Bets

In other news, VP Adam S. Umanoff sold 25,619 shares of the company’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $83.05, for a total value of $2,127,657.95. The sale was disclosed in a filing with the SEC, which is available through this link. 1.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. UBS Group lifted their price target on Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. Royal Bank of Canada lifted their price target on Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Evercore ISI boosted their target price on Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, August 14th. Wells Fargo & Company boosted their target price on Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, Bank of America started coverage on Edison International in a report on Thursday, September 12th. They issued a “buy” rating and a $95.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $88.75.

Edison International Profile

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.