16,668 Shares in Edison International (NYSE:EIX) Bought by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. bought a new position in shares of Edison International (NYSE:EIX - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 16,668 shares of the utilities provider's stock, valued at approximately $1,452,000.

Other hedge funds have also modified their holdings of the company. Lake Street Advisors Group LLC lifted its holdings in shares of Edison International by 4.3% during the 3rd 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 period. Baker Tilly Wealth Management LLC boosted its stake in 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 valued at $416,000 after acquiring an additional 129 shares during the last quarter. SFE Investment Counsel increased its position in shares of Edison International by 0.3% in the 3rd quarter. SFE Investment Counsel now owns 42,730 shares of the utilities provider's stock worth $3,721,000 after purchasing an additional 130 shares during the last quarter. Equitable Trust Co. increased its position in shares of Edison International by 0.9% in the 2nd quarter. Equitable Trust Co. now owns 15,424 shares of the utilities provider's stock worth $1,108,000 after purchasing an additional 132 shares during the last quarter. Finally, TIAA Trust National Association raised its stake in shares of Edison International by 2.0% in the 2nd quarter. TIAA Trust National Association now owns 6,723 shares of the utilities provider's stock valued at $483,000 after purchasing an additional 134 shares in the last quarter. 88.95% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, VP Adam S. Umanoff sold 25,619 shares of the stock in a transaction that occurred 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 document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.20% of the company's stock.

Edison International Stock Performance

Shares of EIX traded down $0.27 during mid-day trading on Monday, hitting $83.68. The company's stock had a trading volume of 634,340 shares, compared to its average volume of 2,029,927. The firm has a market capitalization of $32.40 billion, a PE ratio of 24.62, a price-to-earnings-growth ratio of 2.01 and a beta of 0.92. Edison International has a one year low of $63.15 and a one year high of $88.77. The stock's 50-day moving average is $84.75 and its two-hundred day moving average is $80.93. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88.

Edison International (NYSE:EIX - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, beating analysts' consensus estimates of $1.38 by $0.13. The business had revenue of $5.20 billion during 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 firm's revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.38 earnings per share. As a group, sell-side analysts anticipate that Edison International will post 4.95 EPS for the current year.

Edison International Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 3.73%. Edison International's dividend payout ratio is currently 91.50%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Morgan Stanley reduced their target price on Edison International from $74.00 to $72.00 and set an "underweight" rating on the stock in a report on Friday, November 22nd. Barclays boosted their target price 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. Jefferies Financial Group assumed coverage on shares of Edison International in a report on Thursday, November 7th. They issued a "buy" rating and a $93.00 price target for the company. Royal Bank of Canada increased their price objective on shares of Edison International from $94.00 to $100.00 and gave the stock an "outperform" rating in a research note on Friday, October 4th. Finally, Wells Fargo & Company upped their target price on Edison International from $87.00 to $94.00 and gave the company an "overweight" rating in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $88.75.

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.