Edison International (NYSE:EIX) Shares Purchased by Vinva Investment Management Ltd

Vinva Investment Management Ltd raised its position in Edison International (NYSE:EIX) by 32.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,023 shares of the utilities provider’s stock after purchasing an additional 3,209 shares during the quarter. Vinva Investment Management Ltd’s holdings in Edison International were worth $1,131,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of EIX. Highline Wealth Partners LLC acquired a new position in Edison International in the 3rd quarter valued at about $26,000. Ashton Thomas Private Wealth LLC acquired a new position in Edison International in the 2nd quarter valued at about $27,000. Eastern Bank acquired a new position in Edison International in the 3rd quarter valued at about $27,000. Country Trust Bank acquired a new position in Edison International in the 2nd quarter valued at about $29,000. Finally, Farmers & Merchants Investments Inc. boosted its holdings in Edison International by 53.8% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 140 shares during the last quarter. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, VP Adam S. Umanoff sold 25,619 shares of the company’s stock in a transaction on 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 Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.03% of the company’s stock.

Edison International Trading Down 0.7 %

NYSE EIX opened at $87.75 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. Edison International has a 52 week low of $63.15 and a 52 week high of $88.77. The stock has a market capitalization of $33.97 billion, a PE ratio of 25.73, a price-to-earnings-growth ratio of 2.11 and a beta of 0.92. The firm has a 50 day moving average of $84.89 and a two-hundred day moving average of $80.56.

Edison International (NYSE:EIX) last posted its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 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 company had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.01 billion. During the same quarter in the previous year, the business posted $1.38 EPS. The firm’s revenue was up 10.6% on a year-over-year basis. As a group, research analysts expect that Edison International will post 4.94 EPS for the current fiscal year.

Edison International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 7th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.56%. The ex-dividend date was Monday, October 7th. Edison International’s payout ratio is 91.50%.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Evercore ISI boosted their target price 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. Barclays boosted their price target on shares of Edison International from $89.00 to $91.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Royal Bank of Canada boosted their price target on shares of Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Argus boosted their price target on shares of Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Finally, Morgan Stanley cut their target price on shares of Edison International from $74.00 to $72.00 and set an “underweight” rating on the stock in a research note on Friday, November 22nd. 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 data from MarketBeat, 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.