53,652 Shares in Edison International (NYSE:EIX) Acquired by Zacks Investment Management

Zacks Investment Management acquired a new stake in shares of Edison International (NYSE:EIX) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 53,652 shares of the utilities provider’s stock, valued at approximately $4,673,000.

Several other institutional investors and hedge funds also recently made changes to their positions in EIX. CWM LLC increased its holdings in shares of Edison International by 19.0% during the second quarter. CWM LLC now owns 11,687 shares of the utilities provider’s stock worth $839,000 after buying an additional 1,867 shares in the last quarter. QRG Capital Management Inc. increased its holdings in Edison International by 9.1% during the 2nd quarter. QRG Capital Management Inc. now owns 16,035 shares of the utilities provider’s stock valued at $1,151,000 after purchasing an additional 1,342 shares in the last quarter. Czech National Bank raised its position in Edison International by 8.6% in the 2nd quarter. Czech National Bank now owns 73,318 shares of the utilities provider’s stock valued at $5,265,000 after purchasing an additional 5,829 shares during the last quarter. Sequoia Financial Advisors LLC boosted its stake in Edison International by 4.7% in the second quarter. Sequoia Financial Advisors LLC now owns 7,456 shares of the utilities provider’s stock worth $535,000 after purchasing an additional 338 shares in the last quarter. Finally, Silvia Mccoll Wealth Management LLC bought a new stake in shares of Edison International during the second quarter worth $202,000. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Stock Down 1.1 %

Edison International stock opened at $83.95 on Monday. The firm has a market capitalization of $32.50 billion, a price-to-earnings ratio of 24.62, a PEG ratio of 2.01 and a beta of 0.92. The company’s 50 day simple moving average is $84.75 and its 200 day simple moving average is $80.93. 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 fifty-two week low of $63.15 and a fifty-two week high of $88.77.

Edison International (NYSE:EIX) last announced its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $5.01 billion. During the same period last year, the firm posted $1.38 earnings per share. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Edison International will post 4.95 EPS for the current year.

Edison International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 7th were issued a $0.78 dividend. The ex-dividend date was Monday, October 7th. This represents a $3.12 annualized dividend and a dividend yield of 3.72%. Edison International’s dividend payout ratio (DPR) is currently 91.50%.

Insider Transactions at Edison International

In related news, VP Adam S. Umanoff sold 25,619 shares of the stock in a transaction that occurred on Thursday, October 31st. The stock was 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. 1.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

EIX has been the topic of several research reports. Jefferies Financial Group initiated coverage on shares of Edison International in a research report on Thursday, November 7th. They set a “buy” rating and a $93.00 price target on the stock. Argus upped their target price on shares of Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Evercore ISI raised their price target on shares of 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 upped their price objective on Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, Royal Bank of Canada lifted their target price on Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.