UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Trims Stake in Edison International (NYSE:EIX)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its position in shares of Edison International (NYSE:EIX - Free Report) by 0.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,792,365 shares of the utilities provider's stock after selling 37,644 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 1.24% of Edison International worth $417,367,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Lake Street Advisors Group LLC increased its stake in Edison International by 4.3% during the third quarter. Lake Street Advisors Group LLC now owns 3,015 shares of the utilities provider's stock worth $263,000 after acquiring an additional 124 shares during the last quarter. Baker Tilly Wealth Management LLC increased its position in shares of Edison International by 2.8% during the 3rd quarter. Baker Tilly Wealth Management LLC now owns 4,779 shares of the utilities provider's stock worth $416,000 after purchasing an additional 129 shares during the last quarter. SFE Investment Counsel raised its holdings in Edison International by 0.3% in the 3rd quarter. SFE Investment Counsel now owns 42,730 shares of the utilities provider's stock valued at $3,721,000 after buying an additional 130 shares during the period. Equitable Trust Co. lifted its position in Edison International by 0.9% in the second quarter. Equitable Trust Co. now owns 15,424 shares of the utilities provider's stock valued at $1,108,000 after buying an additional 132 shares during the last quarter. Finally, TIAA Trust National Association boosted its stake in Edison International by 2.0% during the second quarter. TIAA Trust National Association now owns 6,723 shares of the utilities provider's stock worth $483,000 after buying an additional 134 shares during the period. Hedge funds and other institutional investors own 88.95% of the company's stock.

Edison International Stock Down 0.7 %

NYSE:EIX traded down $0.61 during mid-day trading on Friday, hitting $87.75. The stock had a trading volume of 1,243,722 shares, compared to its average volume of 2,033,863. Edison International has a twelve month low of $63.15 and a twelve month high of $88.77. The stock has a 50-day simple moving average of $84.89 and a two-hundred day simple moving average of $80.56. 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 company has a market capitalization of $33.97 billion, a PE ratio of 25.73, a PEG ratio of 2.11 and a beta of 0.92.

Edison International (NYSE:EIX - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, beating analysts' consensus estimates of $1.38 by $0.13. The business had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.01 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The company's revenue was up 10.6% on a year-over-year basis. During the same period last year, the business earned $1.38 EPS. On average, equities research analysts anticipate that Edison International will post 4.94 EPS for the current year.

Edison International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 7th were given a dividend of $0.78 per share. The ex-dividend date was Monday, October 7th. This represents a $3.12 annualized dividend and a dividend yield of 3.56%. Edison International's dividend payout ratio is currently 91.50%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on EIX. 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 upped their price target on Edison International from $82.00 to $97.00 and gave the stock a "buy" rating in a research note on Wednesday, September 11th. Morgan Stanley dropped their price objective on Edison International from $74.00 to $72.00 and set an "underweight" rating for the company in a research note on Friday, November 22nd. Wells Fargo & Company boosted their price objective on Edison International from $87.00 to $94.00 and gave the company an "overweight" rating in a report on Wednesday, October 30th. Finally, Jefferies Financial Group began coverage on Edison International in a report on Thursday, November 7th. They set a "buy" rating and a $93.00 target price for the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, Edison International currently has a consensus rating of "Moderate Buy" and an average price target of $88.75.

Insider Transactions at Edison International

In related news, VP Adam S. Umanoff sold 25,619 shares of the company's stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $83.05, for a total value of $2,127,657.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.03% of the company's stock.

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.