Quantbot Technologies LP Purchases 5,583 Shares of Edison International (NYSE:EIX)

Quantbot Technologies LP increased its position in Edison International (NYSE:EIX) by 88.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,909 shares of the utilities provider’s stock after purchasing an additional 5,583 shares during the period. Quantbot Technologies LP’s holdings in Edison International were worth $842,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of EIX. Empirical Finance LLC grew its holdings in shares of Edison International by 3.5% during the first quarter. Empirical Finance LLC now owns 13,696 shares of the utilities provider’s stock valued at $969,000 after buying an additional 464 shares during the last quarter. Cohen Capital Management Inc. lifted its position in Edison International by 0.5% in the 1st quarter. Cohen Capital Management Inc. now owns 35,744 shares of the utilities provider’s stock valued at $2,528,000 after acquiring an additional 161 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in Edison International by 27.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,734 shares of the utilities provider’s stock valued at $123,000 after acquiring an additional 370 shares in the last quarter. Csenge Advisory Group boosted its stake in Edison International by 5.1% during the 1st quarter. Csenge Advisory Group now owns 9,266 shares of the utilities provider’s stock valued at $655,000 after purchasing an additional 452 shares during the last quarter. Finally, Carson Advisory Inc. increased its holdings in Edison International by 0.3% during the 1st quarter. Carson Advisory Inc. now owns 54,625 shares of the utilities provider’s stock worth $3,864,000 after purchasing an additional 152 shares in the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Barclays raised their target price on Edison International from $72.00 to $75.00 and gave the company an “equal weight” rating in a report on Thursday, May 2nd. Morgan Stanley cut their price objective on shares of Edison International from $64.00 to $61.00 and set an “underweight” rating on the stock in a report on Monday, June 24th. The Goldman Sachs Group initiated coverage on shares of Edison International in a report on Wednesday, April 10th. They issued a “neutral” rating and a $78.00 target price for the company. Mizuho upped their price objective on shares of Edison International from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Finally, Wells Fargo & Company upgraded shares of Edison International from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $72.00 to $86.00 in a research note on Tuesday, May 14th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Edison International currently has an average rating of “Hold” and an average price target of $77.40.

Edison International Stock Performance

Shares of EIX stock opened at $74.84 on Monday. The firm’s 50 day moving average is $73.69 and its 200 day moving average is $70.63. The stock has a market capitalization of $28.79 billion, a P/E ratio of 32.82 and a beta of 0.91. Edison International has a 12 month low of $58.82 and a 12 month high of $77.04. The company has a current ratio of 1.00, a quick ratio of 0.93 and a debt-to-equity ratio of 2.04.

Edison International (NYSE:EIX) last issued its earnings results on Tuesday, April 30th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.01. Edison International had a net margin of 6.14% and a return on equity of 12.48%. The business had revenue of $4.08 billion for the quarter, compared to analysts’ expectations of $4.16 billion. During the same quarter in the previous year, the firm posted $1.09 EPS. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Edison International will post 4.92 earnings per share for the current year.

Edison International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Monday, July 8th will be paid a $0.78 dividend. The ex-dividend date is Monday, July 8th. This represents a $3.12 annualized dividend and a yield of 4.17%. Edison International’s dividend payout ratio is currently 136.84%.

Insider Transactions at Edison International

In related news, SVP Caroline Choi sold 10,004 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $75.77, for a total transaction of $758,003.08. Following the completion of the transaction, the senior vice president now owns 26,918 shares of the company’s stock, valued at $2,039,576.86. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, SVP Caroline Choi sold 10,004 shares of the business’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $75.77, for a total transaction of $758,003.08. Following the completion of the transaction, the senior vice president now owns 26,918 shares of the company’s stock, valued at $2,039,576.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO J Andrew Murphy sold 9,794 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $75.07, for a total transaction of $735,235.58. Following the completion of the sale, the chief executive officer now directly owns 19,660 shares in the company, valued at $1,475,876.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 77,897 shares of company stock valued at $5,851,245. 1.03% of the stock is currently owned by corporate insiders.

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.