Investment Management Corp of Ontario Purchases 4,100 Shares of Edison International (NYSE:EIX)

Investment Management Corp of Ontario boosted its position in Edison International (NYSE:EIX) by 8.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,781 shares of the utilities provider’s stock after purchasing an additional 4,100 shares during the period. Investment Management Corp of Ontario’s holdings in Edison International were worth $4,510,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. FMR LLC increased its stake in shares of Edison International by 8.7% in the third quarter. FMR LLC now owns 21,800,874 shares of the utilities provider’s stock valued at $1,898,638,000 after buying an additional 1,741,835 shares during the period. abrdn plc grew its holdings in Edison International by 166.4% during the 3rd quarter. abrdn plc now owns 1,418,526 shares of the utilities provider’s stock worth $123,149,000 after acquiring an additional 885,955 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its position in Edison International by 117.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 781,736 shares of the utilities provider’s stock valued at $68,081,000 after acquiring an additional 422,752 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Edison International by 595.9% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 318,672 shares of the utilities provider’s stock valued at $22,884,000 after acquiring an additional 272,876 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of Edison International during the second quarter worth $18,484,000. 88.95% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on EIX. UBS Group increased their price objective on Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. Royal Bank of Canada increased their price target on Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Evercore ISI lifted their price objective on Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 14th. Jefferies Financial Group started coverage on shares of Edison International in a research report on Thursday, November 7th. They set a “buy” rating and a $93.00 target price for the company. Finally, Wells Fargo & Company boosted their price target on shares of Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $88.75.

Insider Transactions at Edison International

In related news, VP Adam S. Umanoff sold 25,619 shares of the firm’s 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 legal filing with the SEC, which is available at this hyperlink. 1.20% of the stock is owned by insiders.

Edison International Trading Down 1.2 %

NYSE:EIX opened at $84.74 on Wednesday. Edison International has a 12 month low of $63.15 and a 12 month high of $88.77. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. The stock has a market capitalization of $32.81 billion, a price-to-earnings ratio of 24.85, a PEG ratio of 2.05 and a beta of 0.92. The firm has a fifty day simple moving average of $84.86 and a two-hundred day simple moving average of $80.76.

Edison International (NYSE:EIX) last issued its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, beating the consensus estimate of $1.38 by $0.13. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The company 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 EPS. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. Analysts expect that Edison International will post 4.94 EPS for the current fiscal year.

Edison International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 7th were issued a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $3.12 annualized dividend and a dividend yield of 3.68%. Edison International’s dividend payout ratio 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.