Loomis Sayles & Co. L P Buys 8,590 Shares of Edison International (NYSE:EIX)

Loomis Sayles & Co. L P raised its stake in Edison International (NYSE:EIX - Free Report) by 4,668.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,774 shares of the utilities provider's stock after purchasing an additional 8,590 shares during the quarter. Loomis Sayles & Co. L P's holdings in Edison International were worth $764,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. abrdn plc lifted its position in shares of Edison International by 166.4% during the third quarter. abrdn plc now owns 1,418,526 shares of the utilities provider's stock valued at $123,149,000 after purchasing an additional 885,955 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its position in shares of Edison International by 117.8% during 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 buying an additional 422,752 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of Edison International by 595.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 318,672 shares of the utilities provider's stock worth $22,884,000 after buying an additional 272,876 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of Edison International in the second quarter valued at approximately $18,484,000. Finally, Swedbank AB bought a new position in shares of Edison International in the first quarter valued at approximately $17,918,000. 88.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

EIX has been the topic of several research analyst reports. Barclays boosted their price objective 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. UBS Group boosted their price target on shares of Edison International from $86.00 to $89.00 and gave the stock a "neutral" rating in a report on Wednesday, September 4th. Royal Bank of Canada raised their price objective on shares of Edison International from $94.00 to $100.00 and gave the stock an "outperform" rating in a report on Friday, October 4th. Argus lifted their price objective on shares of Edison International from $82.00 to $97.00 and gave the stock a "buy" rating in a research report on Wednesday, September 11th. Finally, Morgan Stanley reduced their target price on shares of Edison International from $74.00 to $72.00 and set an "underweight" rating for the company in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $88.75.

Edison International Stock Performance

Shares of NYSE:EIX traded up $0.62 during trading on Thursday, hitting $88.36. 1,589,281 shares of the company were exchanged, compared to its average volume of 2,037,297. The company has a market cap of $34.21 billion, a PE ratio of 25.92, a P/E/G ratio of 2.09 and a beta of 0.92. Edison International has a 52-week low of $63.15 and a 52-week high of $88.77. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. The stock has a 50 day moving average of $84.76 and a 200 day moving average of $80.41.

Edison International (NYSE:EIX - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.38 by $0.13. The business had revenue of $5.20 billion for the quarter, compared to analysts' expectations of $5.01 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The firm's quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.38 EPS. As a group, equities research analysts predict that Edison International will post 4.95 EPS for the current year.

Edison International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, October 7th were paid a dividend of $0.78 per share. The ex-dividend date was Monday, October 7th. This represents a $3.12 annualized dividend and a yield of 3.53%. Edison International's dividend payout ratio is currently 91.50%.

Insider Buying and Selling

In related news, VP Adam S. Umanoff sold 25,619 shares of Edison International 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 document filed with the Securities & Exchange Commission, which is available at this link. 1.20% of the stock is currently owned by insiders.

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.