Pathstone Holdings LLC Trims Holdings in Edison International (NYSE:EIX)

Pathstone Holdings LLC lowered its holdings in shares of Edison International (NYSE:EIX) by 8.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,275 shares of the utilities provider’s stock after selling 2,914 shares during the period. Pathstone Holdings LLC’s holdings in Edison International were worth $2,811,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of EIX. Swedbank AB grew its holdings in shares of Edison International by 76.3% during the second quarter. Swedbank AB now owns 446,637 shares of the utilities provider’s stock worth $32,073,000 after buying an additional 193,307 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of Edison International by 150.6% in the first quarter. Janus Henderson Group PLC now owns 169,742 shares of the utilities provider’s stock valued at $12,004,000 after purchasing an additional 102,000 shares during the period. Cetera Investment Advisers increased its holdings in shares of Edison International by 955.8% in the first quarter. Cetera Investment Advisers now owns 104,805 shares of the utilities provider’s stock valued at $7,413,000 after purchasing an additional 94,878 shares during the period. Baker Avenue Asset Management LP purchased a new stake in shares of Edison International during the third quarter worth approximately $2,291,000. Finally, California State Teachers Retirement System lifted its holdings in shares of Edison International by 6.5% during the first quarter. California State Teachers Retirement System now owns 788,336 shares of the utilities provider’s stock worth $55,759,000 after purchasing an additional 48,058 shares during the period. 88.95% of the stock is owned by hedge funds and other institutional investors.

Edison International Price Performance

Shares of NYSE:EIX opened at $87.60 on Tuesday. The company has a market cap of $33.91 billion, a P/E ratio of 25.69, a P/E/G ratio of 2.07 and a beta of 0.92. The business has a fifty day simple moving average of $84.66 and a 200-day simple moving average of $80.26. Edison International has a 52 week low of $63.15 and a 52 week 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.

Edison International (NYSE:EIX) last posted its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, beating the consensus estimate of $1.38 by $0.13. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The company had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.01 billion. During the same quarter in the previous year, the business earned $1.38 EPS. The firm’s revenue was up 10.6% on a year-over-year basis. Equities research analysts forecast that Edison International will post 4.95 EPS for the current year.

Edison International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 7th were issued a $0.78 dividend. The ex-dividend date of this dividend was Monday, October 7th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.56%. Edison International’s dividend payout ratio (DPR) is presently 91.50%.

Wall Street Analysts Forecast Growth

EIX has been the topic of several recent research reports. Evercore ISI boosted their price objective on shares of Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday, August 14th. Bank of America initiated coverage on shares of Edison International in a research note on Thursday, September 12th. They issued a “buy” rating and a $95.00 price objective for the company. Wells Fargo & Company upped their price target on Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Barclays raised their target price 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. Finally, Morgan Stanley dropped 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 note on Friday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $88.75.

Insider Buying and Selling at Edison International

In related news, VP Adam S. Umanoff sold 25,619 shares of the business’s 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 can be accessed through the SEC website. 1.03% of the stock is owned by company 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.