BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Cuts Stock Position in Edison International (NYSE:EIX)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp decreased its position in shares of Edison International (NYSE:EIX - Free Report) by 3.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 309,186 shares of the utilities provider's stock after selling 9,486 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned 0.08% of Edison International worth $26,927,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC grew its holdings in 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 purchasing an additional 1,741,835 shares during the period. abrdn plc grew its stake in Edison International by 166.4% in the 3rd quarter. abrdn plc now owns 1,418,526 shares of the utilities provider's stock valued at $123,149,000 after acquiring an additional 885,955 shares during the period. Robeco Institutional Asset Management B.V. increased its holdings 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 worth $68,081,000 after acquiring an additional 422,752 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in Edison International in the 2nd quarter worth $18,484,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Edison International by 108.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 446,993 shares of the utilities provider's stock worth $32,099,000 after acquiring an additional 232,621 shares during the period. Institutional investors and hedge funds own 88.95% of the company's stock.

Insider Buying and Selling at Edison International

In other news, VP Adam S. Umanoff sold 25,619 shares of the stock in a transaction 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 can be accessed through this link. Company insiders own 1.03% of the company's stock.

Edison International Trading Down 0.7 %

Shares of EIX traded down $0.61 during mid-day trading on Friday, reaching $87.75. The stock had a trading volume of 1,243,975 shares, compared to its average volume of 2,338,431. Edison International has a 52-week low of $63.15 and a 52-week high of $88.77. The firm has a market cap of $33.97 billion, a price-to-earnings ratio of 25.73, a P/E/G ratio of 2.10 and a beta of 0.92. The business's fifty day moving average is $84.89 and its 200 day moving average is $80.63. 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 (NYSE:EIX - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.13. The business had revenue of $5.20 billion during the quarter, compared to analysts' expectations of $5.01 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The business's revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.38 EPS. On average, sell-side analysts predict that Edison International will post 4.94 EPS for the current fiscal year.

Edison International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 7th were paid 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 yield of 3.56%. Edison International's dividend payout ratio (DPR) is 91.50%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on EIX. Argus boosted their target price on shares of Edison International from $82.00 to $97.00 and gave the stock a "buy" rating in a research note on Wednesday, September 11th. UBS Group boosted their price objective on Edison International from $86.00 to $89.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 4th. Morgan Stanley decreased their target price on Edison International from $74.00 to $72.00 and set an "underweight" rating on the stock in a research report on Friday, November 22nd. Barclays boosted their price target on Edison International from $89.00 to $91.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company increased their price objective on Edison International from $87.00 to $94.00 and gave the company an "overweight" rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company 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.