ASR Vermogensbeheer N.V. Makes New Investment in Edison International (NYSE:EIX)

Key Points

• ASR Vermogensbeheer N.V. has acquired a new stake in Edison International, purchasing 163,515 shares valued at approximately $9,634,000.
• Edison International reported earnings of $0.97 EPS for the last quarter, exceeding analysts' expectations of $0.88, with revenue up 4.8% year-over-year.
• The company recently announced a quarterly dividend of $0.8275 per share, representing an annualized yield of 6.0%.

ASR Vermogensbeheer N.V. acquired a new stake in Edison International (NYSE:EIX - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 163,515 shares of the utilities provider's stock, valued at approximately $9,634,000.

A number of other hedge funds also recently modified their holdings of the stock. Canada Pension Plan Investment Board grew its position in shares of Edison International by 364.1% in the fourth quarter. Canada Pension Plan Investment Board now owns 3,369,535 shares of the utilities provider's stock valued at $269,024,000 after purchasing an additional 2,643,571 shares during the last quarter. Northern Trust Corp grew its holdings in Edison International by 53.9% in the 4th quarter. Northern Trust Corp now owns 5,757,034 shares of the utilities provider's stock valued at $459,642,000 after buying an additional 2,016,017 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in Edison International by 149.3% in the 4th quarter. Ameriprise Financial Inc. now owns 2,793,795 shares of the utilities provider's stock valued at $223,057,000 after buying an additional 1,673,204 shares in the last quarter. Invesco Ltd. increased its position in Edison International by 38.2% during the 4th quarter. Invesco Ltd. now owns 4,816,638 shares of the utilities provider's stock worth $384,560,000 after buying an additional 1,331,941 shares during the period. Finally, Allianz Asset Management GmbH lifted its holdings in shares of Edison International by 1,946.0% during the first quarter. Allianz Asset Management GmbH now owns 1,255,449 shares of the utilities provider's stock worth $73,971,000 after buying an additional 1,194,088 shares in the last quarter. Institutional investors and hedge funds own 88.95% of the company's stock.

Edison International Stock Down 0.8%

Shares of NYSE EIX opened at $54.84 on Thursday. The company has a market cap of $21.10 billion, a price-to-earnings ratio of 8.05, a PEG ratio of 1.30 and a beta of 0.75. The company has a current ratio of 0.87, a quick ratio of 0.81 and a debt-to-equity ratio of 2.03. Edison International has a 12 month low of $47.73 and a 12 month high of $88.77. The stock has a 50-day moving average price of $51.85 and a two-hundred day moving average price of $54.39.

Edison International (NYSE:EIX - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.88 by $0.09. Edison International had a net margin of 16.00% and a return on equity of 11.99%. The business had revenue of $4.54 billion during the quarter, compared to analysts' expectations of $4.52 billion. During the same period in the prior year, the company earned $1.23 EPS. The firm's quarterly revenue was up 4.8% compared to the same quarter last year. As a group, analysts forecast that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, July 7th were given a dividend of $0.8275 per share. The ex-dividend date was Monday, July 7th. This represents a $3.31 dividend on an annualized basis and a yield of 6.0%. Edison International's payout ratio is currently 48.60%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Evercore ISI reaffirmed an "outperform" rating on shares of Edison International in a research report on Thursday, May 15th. Morgan Stanley cut their price target on Edison International from $52.00 to $51.00 and set an "underweight" rating for the company in a research note on Wednesday, June 18th. JPMorgan Chase & Co. reduced their price target on Edison International from $75.00 to $71.00 and set a "neutral" rating on the stock in a research report on Monday, May 19th. Wolfe Research cut Edison International from an "outperform" rating to a "peer perform" rating in a report on Monday, June 9th. Finally, Barclays reissued an "overweight" rating and set a $65.00 target price (up from $64.00) on shares of Edison International in a report on Monday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $76.19.

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.

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