Nordea Investment Management AB Sells 328,811 Shares of Edison International (NYSE:EIX)

Nordea Investment Management AB decreased its position in shares of Edison International (NYSE:EIX) by 9.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,163,547 shares of the utilities provider’s stock after selling 328,811 shares during the period. Nordea Investment Management AB’s holdings in Edison International were worth $252,071,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Edison International during the 3rd quarter worth approximately $1,387,000. Stifel Financial Corp lifted its position in shares of Edison International by 5.2% during the third quarter. Stifel Financial Corp now owns 309,716 shares of the utilities provider’s stock worth $26,973,000 after purchasing an additional 15,181 shares during the last quarter. Baker Avenue Asset Management LP bought a new stake in shares of Edison International during the third quarter worth $2,291,000. Swedbank AB boosted its stake in shares of Edison International by 13.5% during the third quarter. Swedbank AB now owns 506,819 shares of the utilities provider’s stock valued at $44,139,000 after purchasing an additional 60,182 shares during the period. Finally, Bank of Montreal Can grew its holdings in shares of Edison International by 5.3% in the second quarter. Bank of Montreal Can now owns 695,620 shares of the utilities provider’s stock worth $50,022,000 after purchasing an additional 34,701 shares during the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Insider Buying and Selling

In related news, VP Adam S. Umanoff sold 25,619 shares of the firm’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $83.05, for a total value of $2,127,657.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.03% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Argus lifted their price objective on shares of Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Morgan Stanley lowered their price target on Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a report on Friday, November 22nd. Royal Bank of Canada raised their price objective on Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Barclays upgraded Edison International from an “equal weight” rating to an “overweight” rating and lowered their target price for the stock from $91.00 to $84.00 in a report on Thursday, January 2nd. Finally, Wells Fargo & Company raised their price target on Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Edison International has a consensus rating of “Moderate Buy” and an average price target of $88.00.

Edison International Trading Down 1.8 %

NYSE EIX opened at $78.36 on Tuesday. The firm has a market cap of $30.34 billion, a PE ratio of 22.98, a price-to-earnings-growth ratio of 1.96 and a beta of 0.93. 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. The company has a 50 day moving average price of $82.63 and a 200 day moving average price of $81.87.

Edison International (NYSE:EIX) last announced its 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 return on equity of 13.17% and a net margin of 8.52%. The firm had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.01 billion. During the same period in the previous year, the business earned $1.38 EPS. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. As a group, sell-side analysts forecast that Edison International will post 4.94 EPS for the current fiscal year.

Edison International Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, January 7th will be given a $0.8275 dividend. This is a positive change from Edison International’s previous quarterly dividend of $0.78. This represents a $3.31 annualized dividend and a dividend yield of 4.22%. The ex-dividend date is Tuesday, January 7th. Edison International’s dividend payout ratio (DPR) is presently 97.07%.

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.