Neo Ivy Capital Management Sells 50,166 Shares of Edison International (NYSE:EIX)

Neo Ivy Capital Management reduced its holdings in shares of Edison International (NYSE:EIX - Free Report) by 97.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,354 shares of the utilities provider's stock after selling 50,166 shares during the quarter. Neo Ivy Capital Management's holdings in Edison International were worth $118,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of EIX. Highline Wealth Partners LLC purchased a new stake in shares of Edison International during the third quarter worth $26,000. Groupama Asset Managment lifted its holdings in Edison International by 0.8% during the 3rd quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider's stock worth $26,000 after purchasing an additional 237 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new position in Edison International in the 2nd quarter worth about $27,000. Eastern Bank purchased a new position in Edison International during the 3rd quarter valued at about $27,000. Finally, Farmers & Merchants Investments Inc. increased its position in shares of Edison International by 53.8% during the second quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider's stock valued at $29,000 after buying an additional 140 shares during the period. 88.95% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on EIX. Morgan Stanley cut their price objective 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. Barclays raised their price target on shares of Edison International from $89.00 to $91.00 and gave the company an "equal weight" rating in a report on Wednesday, October 30th. Bank of America initiated coverage on shares of Edison International in a report on Thursday, September 12th. They issued a "buy" rating and a $95.00 price target on the stock. Jefferies Financial Group assumed coverage on Edison International in a research note on Thursday, November 7th. They set a "buy" rating and a $93.00 price objective for the company. Finally, Argus upped their target price on Edison International from $82.00 to $97.00 and gave the stock a "buy" rating in a research note on Wednesday, September 11th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $88.75.

Edison International Price Performance

EIX traded up $0.27 during midday trading on Friday, hitting $81.89. The stock had a trading volume of 1,197,246 shares, compared to its average volume of 2,029,532. The company has a market cap of $31.70 billion, a P/E ratio of 23.94, a price-to-earnings-growth ratio of 1.95 and a beta of 0.92. 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 has a 1 year low of $63.15 and a 1 year high of $88.77. The business has a fifty day moving average of $84.35 and a 200 day moving average of $81.06.

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, topping the consensus estimate of $1.38 by $0.13. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.01 billion. During the same period in the previous year, the firm posted $1.38 earnings per share. The firm's revenue for the quarter was up 10.6% on a year-over-year basis. As a group, equities analysts forecast that Edison International will post 4.94 earnings per share for the current fiscal year.

Edison International Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, January 7th will be paid a $0.8275 dividend. This is a boost from Edison International's previous quarterly dividend of $0.78. This represents a $3.31 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date is Tuesday, January 7th. Edison International's payout ratio is 91.50%.

Insider Buying and Selling at Edison International

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

Edison International Company 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.