Banque Cantonale Vaudoise cut its holdings in Edison International (NYSE:EIX – Free Report) by 87.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,989 shares of the utilities provider’s stock after selling 50,500 shares during the period. Banque Cantonale Vaudoise’s holdings in Edison International were worth $493,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Manchester Financial Inc. raised its holdings in shares of Edison International by 8.2% in the first quarter. Manchester Financial Inc. now owns 8,349 shares of the utilities provider’s stock valued at $589,000 after purchasing an additional 633 shares during the last quarter. Seelaus Asset Management LLC raised its holdings in shares of Edison International by 37.0% in the first quarter. Seelaus Asset Management LLC now owns 7,583 shares of the utilities provider’s stock valued at $547,000 after purchasing an additional 2,048 shares during the last quarter. Marcum Wealth LLC raised its holdings in shares of Edison International by 2.5% in the first quarter. Marcum Wealth LLC now owns 7,716 shares of the utilities provider’s stock valued at $545,000 after purchasing an additional 187 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Edison International in the first quarter valued at approximately $33,000. Finally, Nordea Investment Management AB grew its stake in shares of Edison International by 480.2% in the first quarter. Nordea Investment Management AB now owns 4,697,110 shares of the utilities provider’s stock valued at $330,677,000 after buying an additional 3,887,557 shares in the last quarter. 88.83% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research firms recently weighed in on EIX. LADENBURG THALM/SH SH raised their target price on shares of Edison International from $66.00 to $67.00 in a research note on Wednesday, May 17th. Citigroup raised their target price on shares of Edison International from $79.00 to $86.00 in a research note on Thursday, May 4th. Guggenheim raised their target price on shares of Edison International from $75.00 to $81.00 in a research note on Wednesday, May 3rd. Mizuho raised their target price on shares of Edison International from $67.00 to $73.00 and gave the company a “neutral” rating in a research note on Monday, April 10th. Finally, StockNews.com began coverage on shares of Edison International in a research note on Thursday, May 18th. They issued a “hold” rating for the company. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $73.08.
Edison International Trading Up 0.5 %
Edison International (NYSE:EIX – Free Report) last announced its earnings results on Tuesday, May 2nd. The utilities provider reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.05. The company had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $4 billion. Edison International had a net margin of 6.12% and a return on equity of 12.48%. Edison International’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.07 earnings per share. As a group, sell-side analysts forecast that Edison International will post 4.72 EPS for the current year.
Edison International Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, July 31st. Investors of record on Wednesday, July 5th will be paid a $0.738 dividend. This represents a $2.95 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date is Monday, July 3rd. This is an increase from Edison International’s previous quarterly dividend of $0.74. Edison International’s payout ratio is 134.70%.
About Edison International
Edison International, through its subsidiaries, generates and distributes electric power. The company supplies electricity to approximately 50,000 square mile area of southern California to residential, commercial, industrial, public authorities, agricultural, and other sectors. It also provides decarbonization and energy solutions to commercial, institutional, and industrial customers in North America and Europe.
See Also
- Five stocks we like better than Edison International
- Tesla Production Cranks Into High Gear, Shares Follow
- Ford Soars 30% YTD After Breaking Out: What’s Next?
- Acuity Brands Lights Up Opportunity In The Industrial Sector
- Overstock Looks Beyond Overbought After Bed Bath Re-Brand
- Tecnoglass Shines Bright As Analysts Bullish On Growth Potential
Want to see what other hedge funds are holding EIX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Edison International (NYSE:EIX – Free Report).
Receive News & Ratings for Edison International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Edison International and related companies with MarketBeat.com's FREE daily email newsletter.
