Nomura Holdings Inc. lowered its position in Edison International (NYSE:EIX) by 38.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,227 shares of the utilities provider’s stock after selling 11,612 shares during the period. Nomura Holdings Inc.’s holdings in Edison International were worth $1,451,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of EIX. NS Partners Ltd raised its stake in shares of Edison International by 71.8% in the first quarter. NS Partners Ltd now owns 86,126 shares of the utilities provider’s stock worth $6,856,000 after buying an additional 35,980 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in shares of Edison International during the first quarter worth about $811,000. Schwab Charles Investment Management Inc. raised its stake in shares of Edison International by 3.1% in the first quarter. Schwab Charles Investment Management Inc. now owns 1,215,247 shares of the utilities provider’s stock worth $96,746,000 after buying an additional 36,527 shares in the last quarter. Amalgamated Bank raised its stake in shares of Edison International by 6.0% in the first quarter. Amalgamated Bank now owns 22,378 shares of the utilities provider’s stock worth $1,782,000 after buying an additional 1,273 shares in the last quarter. Finally, BlackRock Inc. raised its stake in shares of Edison International by 2,416.6% in the first quarter. BlackRock Inc. now owns 24,389,198 shares of the utilities provider’s stock worth $1,941,622,000 after buying an additional 23,420,049 shares in the last quarter. 82.45% of the stock is owned by hedge funds and other institutional investors.
Shares of Edison International (NYSE:EIX) opened at 80.05 on Monday. Edison International has a 12 month low of $67.44 and a 12 month high of $82.82. The firm’s 50-day moving average price is $80.11 and its 200-day moving average price is $76.92. The company has a market capitalization of $26.08 billion, a price-to-earnings ratio of 18.96 and a beta of 0.23.
Edison International (NYSE:EIX) last released its quarterly earnings results on Monday, May 1st. The utilities provider reported $1.10 EPS for the quarter, topping the consensus estimate of $0.89 by $0.21. Edison International had a return on equity of 10.78% and a net margin of 12.82%. The business had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.71 billion. During the same period last year, the business posted $0.82 earnings per share. The company’s quarterly revenue was up .9% on a year-over-year basis. Equities research analysts expect that Edison International will post $4.21 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 31st. Stockholders of record on Friday, June 30th will be given a dividend of $0.5425 per share. The ex-dividend date is Wednesday, June 28th. This represents a $2.17 annualized dividend and a dividend yield of 2.71%. Edison International’s dividend payout ratio is currently 50.94%.
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A number of equities research analysts recently issued reports on the company. BidaskClub lowered Edison International from a “hold” rating to a “sell” rating in a research note on Sunday. Wolfe Research lowered Edison International from an “outperform” rating to a “market perform” rating in a research note on Thursday, May 11th. BMO Capital Markets reissued an “outperform” rating and set a $85.00 price target (up from $82.00) on shares of Edison International in a research note on Wednesday, May 3rd. Jefferies Group LLC reissued a “hold” rating and set a $83.00 price target (up from $80.00) on shares of Edison International in a research note on Tuesday, May 2nd. Finally, Barclays PLC reissued an “equal weight” rating and set a $84.00 price target (up from $78.00) on shares of Edison International in a research note on Sunday, April 23rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. Edison International has a consensus rating of “Hold” and an average target price of $82.41.
In other news, insider Gaddi H. Vasquez sold 3,657 shares of the stock in a transaction on Friday, March 31st. The stock was sold at an average price of $80.00, for a total value of $292,560.00. Following the sale, the insider now directly owns 7,466 shares in the company, valued at $597,280. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Gaddi H. Vasquez sold 2,500 shares of the stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $81.30, for a total value of $203,250.00. Following the completion of the sale, the insider now owns 4,550 shares in the company, valued at $369,915. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,692 shares of company stock valued at $2,752,845. Company insiders own 0.41% of the company’s stock.
Edison International Company Profile
Edison International is the holding company of Southern California Edison Company (SCE). As of December 31, 2016, SCE, a public utility, was primarily engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area of southern California. The Company is also the parent company of Edison Energy Group, Inc (Edison Energy Group), a holding company for subsidiaries engaged in pursuing competitive business opportunities across energy services and distributed solar to commercial and industrial customers.
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