Handelsbanken Fonder AB Has $10.95 Million Stock Position in Edison International (NYSE:EIX)

Handelsbanken Fonder AB cut its stake in Edison International (NYSE:EIX - Free Report) by 17.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 185,915 shares of the utilities provider's stock after selling 38,606 shares during the period. Handelsbanken Fonder AB's holdings in Edison International were worth $10,954,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in EIX. Charles Schwab Investment Management Inc. raised its holdings in shares of Edison International by 3.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,416,770 shares of the utilities provider's stock valued at $192,955,000 after buying an additional 76,654 shares during the last quarter. Tounjian Advisory Partners LLC bought a new stake in Edison International during the 1st quarter valued at $1,151,000. GAMMA Investing LLC boosted its position in Edison International by 4,157.4% during the 1st quarter. GAMMA Investing LLC now owns 145,179 shares of the utilities provider's stock worth $8,554,000 after acquiring an additional 141,769 shares during the period. Proficio Capital Partners LLC acquired a new position in Edison International during the 4th quarter worth $6,859,000. Finally, RWC Asset Management LLP grew its stake in shares of Edison International by 207.1% in the fourth quarter. RWC Asset Management LLP now owns 398,812 shares of the utilities provider's stock worth $31,841,000 after purchasing an additional 268,951 shares in the last quarter. 88.95% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

EIX has been the topic of several recent analyst reports. Barclays boosted their target price on Edison International from $64.00 to $67.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. UBS Group raised Edison International from a "neutral" rating to a "buy" rating and decreased their target price for the company from $69.00 to $65.00 in a research note on Tuesday, February 18th. Evercore ISI reaffirmed an "outperform" rating on shares of Edison International in a report on Thursday, May 15th. JPMorgan Chase & Co. cut their price target on shares of Edison International from $75.00 to $71.00 and set a "neutral" rating for the company in a report on Monday, May 19th. Finally, Mizuho lowered their price objective on shares of Edison International from $75.00 to $66.00 and set an "outperform" rating on the stock in a research note on Monday, March 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $76.89.

Edison International Stock Down 4.2%

Shares of EIX traded down $2.10 during midday trading on Friday, hitting $48.27. The stock had a trading volume of 6,041,783 shares, compared to its average volume of 3,176,194. The firm has a market cap of $18.57 billion, a price-to-earnings ratio of 14.15, a price-to-earnings-growth ratio of 1.07 and a beta of 0.78. The company has a 50 day simple moving average of $55.69 and a two-hundred day simple moving average of $61.53. Edison International has a twelve month low of $47.89 and a twelve month high of $88.77. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81.

Edison International (NYSE:EIX - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share for the quarter, beating analysts' consensus estimates of $1.21 by $0.16. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The firm had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $4.29 billion. During the same period last year, the company earned $1.13 earnings per share. The business's revenue was down 6.5% compared to the same quarter last year. On average, analysts anticipate that Edison International will post 4.95 EPS for the current year.

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.