Banque Cantonale Vaudoise Reduces Stake in Edison International (NYSE:EIX)

Banque Cantonale Vaudoise lowered its holdings in Edison International (NYSE:EIX) by 90.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,001 shares of the utilities provider’s stock after selling 9,531 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Edison International were worth $87,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Clearbridge Investments LLC lifted its holdings in Edison International by 0.5% in the 2nd quarter. Clearbridge Investments LLC now owns 5,015,988 shares of the utilities provider’s stock worth $360,198,000 after buying an additional 24,834 shares during the period. American Century Companies Inc. lifted its stake in shares of Edison International by 1.8% in the 2nd quarter. American Century Companies Inc. now owns 3,864,399 shares of the utilities provider’s stock valued at $277,503,000 after purchasing an additional 67,089 shares during the period. Hsbc Holdings PLC lifted its stake in shares of Edison International by 10.1% in the 2nd quarter. Hsbc Holdings PLC now owns 2,073,569 shares of the utilities provider’s stock valued at $148,768,000 after purchasing an additional 190,026 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Edison International by 15.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,635,880 shares of the utilities provider’s stock valued at $117,476,000 after purchasing an additional 218,762 shares during the period. Finally, abrdn plc lifted its stake in shares of Edison International by 166.4% in the 3rd quarter. abrdn plc now owns 1,418,526 shares of the utilities provider’s stock valued at $123,149,000 after purchasing an additional 885,955 shares during the period. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on EIX shares. UBS Group lifted their price objective on Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Morgan Stanley lowered their price objective on Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a research note on Friday. Wells Fargo & Company lifted their price objective on Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Guggenheim lifted their target price on Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, Evercore ISI lifted their target price on Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Edison International has an average rating of “Moderate Buy” and an average target price of $88.75.

Edison International Price Performance

NYSE EIX opened at $86.51 on Friday. The stock has a market cap of $33.49 billion, a price-to-earnings ratio of 25.37, a PEG ratio of 2.05 and a beta of 0.92. Edison International has a 12 month low of $63.15 and a 12 month high of $88.77. The company’s 50 day moving average is $84.64 and its two-hundred day moving average is $80.08. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96.

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

Edison International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, October 7th were issued a $0.78 dividend. The ex-dividend date was Monday, October 7th. This represents a $3.12 dividend on an annualized basis and a yield of 3.61%. Edison International’s dividend payout ratio is presently 91.50%.

Insiders Place Their Bets

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO J Andrew Murphy sold 23,896 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $85.45, for a total value of $2,041,913.20. Following the transaction, the chief executive officer now owns 19,850 shares of the company’s stock, valued at approximately $1,696,182.50. The trade was a 54.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 49,516 shares of company stock worth $4,169,652 in the last three months. 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.