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

Intech Investment Management LLC cut its holdings in shares of Edison International (NYSE:EIX - Free Report) by 59.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. 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 SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp boosted its position in shares of Edison International by 0.7% during the 3rd quarter. State Street Corp now owns 32,549,936 shares of the utilities provider's stock worth $2,834,774,000 after acquiring an additional 224,337 shares in the last quarter. FMR LLC raised its holdings in shares of Edison International by 8.7% during the 3rd quarter. FMR LLC now owns 21,800,874 shares of the utilities provider's stock worth $1,898,638,000 after buying an additional 1,741,835 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Edison International by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 9,620,520 shares of the utilities provider's stock worth $835,142,000 after buying an additional 210,461 shares during the last quarter. Amundi boosted its stake in Edison International by 0.3% in the fourth quarter. Amundi now owns 3,118,404 shares of the utilities provider's stock valued at $248,973,000 after buying an additional 10,396 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Edison International by 1.3% in the fourth quarter. Bank of New York Mellon Corp now owns 2,620,122 shares of the utilities provider's stock valued at $209,191,000 after buying an additional 32,391 shares in the last quarter. 88.95% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Barclays dropped their target price on shares of Edison International from $67.00 to $65.00 and set an "overweight" rating for the company in a report on Monday, March 3rd. Guggenheim downgraded shares of Edison International from a "buy" rating to a "neutral" rating in a research note on Thursday, January 23rd. Mizuho cut their target price on shares of Edison International from $75.00 to $66.00 and set an "outperform" rating on the stock in a research report on Monday, March 3rd. Morgan Stanley upped their price target on shares of Edison International from $48.00 to $52.00 and gave the stock an "underweight" rating in a report on Thursday, March 20th. Finally, UBS Group raised Edison International from a "neutral" rating to a "buy" rating and cut their price objective for the company from $69.00 to $65.00 in a report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $76.82.

Edison International Trading Down 2.4 %

Shares of NYSE EIX traded down $1.41 during trading on Tuesday, reaching $57.18. The company had a trading volume of 3,200,047 shares, compared to its average volume of 2,663,878. Edison International has a 12 month low of $49.06 and a 12 month high of $88.77. 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 stock has a market cap of $22.02 billion, a P/E ratio of 16.77, a PEG ratio of 1.07 and a beta of 0.87. The company's fifty day moving average price is $55.27 and its 200-day moving average price is $73.20.

Edison International (NYSE:EIX - Get Free Report) last released its earnings results on Thursday, February 27th. The utilities provider reported $1.05 earnings per share for the quarter, missing analysts' consensus estimates of $1.08 by ($0.03). The firm had revenue of $17.60 billion for the quarter, compared to analyst estimates of $3.92 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. As a group, research analysts expect that Edison International will post 4.95 earnings per share for the current year.

Edison International Dividend Announcement

The company also recently declared 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 is Monday, April 7th. This represents a $3.31 dividend on an annualized basis and a yield of 5.79%. Edison International's dividend payout ratio (DPR) is currently 100.30%.

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.