Intech Investment Management LLC Sells 32,348 Shares of Edison International (NYSE:EIX)

Intech Investment Management LLC trimmed its holdings in Edison International (NYSE:EIX) by 59.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,085 shares of the utilities provider’s stock after selling 32,348 shares during the quarter. Intech Investment Management LLC’s holdings in Edison International were worth $1,763,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Generali Asset Management SPA SGR acquired a new position in Edison International in the fourth quarter valued at approximately $7,087,000. Cozad Asset Management Inc. increased its stake in shares of Edison International by 26.9% in the 4th quarter. Cozad Asset Management Inc. now owns 3,205 shares of the utilities provider’s stock valued at $256,000 after acquiring an additional 680 shares in the last quarter. Cibc World Markets Corp lifted its position in shares of Edison International by 16.6% during the 4th quarter. Cibc World Markets Corp now owns 61,064 shares of the utilities provider’s stock valued at $4,875,000 after acquiring an additional 8,695 shares during the period. Corient Private Wealth LLC boosted its stake in Edison International by 0.6% during the fourth quarter. Corient Private Wealth LLC now owns 56,285 shares of the utilities provider’s stock worth $4,494,000 after acquiring an additional 351 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. grew its holdings in Edison International by 35.6% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 12,321 shares of the utilities provider’s stock worth $984,000 after purchasing an additional 3,233 shares during the period. Institutional investors own 88.95% of the company’s stock.

Edison International Trading Up 0.7 %

Shares of EIX stock opened at $58.92 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. The firm has a market cap of $22.68 billion, a P/E ratio of 17.28, a PEG ratio of 1.07 and a beta of 0.87. The company has a 50 day moving average of $55.37 and a 200-day moving average of $73.80. Edison International has a 12-month low of $49.06 and a 12-month high of $88.77.

Edison International (NYSE:EIX) last released its earnings results on Thursday, February 27th. The utilities provider reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.03). Edison International had a return on equity of 13.17% and a net margin of 8.52%. The firm had revenue of $17.60 billion during the quarter, compared to analysts’ expectations of $3.92 billion. Sell-side analysts anticipate that Edison International will post 4.95 earnings per share for the current year.

Edison International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, April 7th will be given a dividend of $0.8275 per share. The ex-dividend date of this dividend is Monday, April 7th. This represents a $3.31 dividend on an annualized basis and a yield of 5.62%. Edison International’s dividend payout ratio is presently 100.30%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on EIX shares. Barclays dropped their price objective on shares of Edison International from $67.00 to $65.00 and set an “overweight” rating on the stock in a report on Monday, March 3rd. Wells Fargo & Company cut their price target on Edison International from $94.00 to $75.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. JPMorgan Chase & Co. restated a “neutral” rating and set a $72.00 price objective on shares of Edison International in a report on Wednesday, February 12th. UBS Group upgraded Edison International from a “neutral” rating to a “buy” rating and cut their target price for the stock from $69.00 to $65.00 in a report on Tuesday, February 18th. Finally, Guggenheim lowered shares of Edison International from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Edison International has an average rating of “Moderate Buy” and a consensus target price of $76.82.

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.