Los Angeles Capital Management LLC Makes New $33.28 Million Investment in Edison International (NYSE:EIX)

Los Angeles Capital Management LLC purchased a new stake in shares of Edison International (NYSE:EIX - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 564,762 shares of the utilities provider's stock, valued at approximately $33,276,000. Los Angeles Capital Management LLC owned 0.15% of Edison International at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in EIX. Rakuten Securities Inc. raised its holdings in shares of Edison International by 4,633.3% during the first quarter. Rakuten Securities Inc. now owns 426 shares of the utilities provider's stock valued at $25,000 after acquiring an additional 417 shares during the period. Barnes Dennig Private Wealth Management LLC bought a new stake in Edison International in the first quarter worth approximately $25,000. Bellwether Advisors LLC bought a new stake in Edison International in the fourth quarter worth approximately $34,000. Mizuho Bank Ltd. bought a new stake in Edison International in the fourth quarter worth approximately $50,000. Finally, Versant Capital Management Inc grew its position in Edison International by 96.7% in the first quarter. Versant Capital Management Inc now owns 881 shares of the utilities provider's stock worth $52,000 after acquiring an additional 433 shares in the last quarter. Institutional investors and hedge funds own 88.95% of the company's stock.

Edison International Trading Down 1.6%

Shares of NYSE EIX traded down $0.86 during mid-day trading on Thursday, hitting $51.44. The company's stock had a trading volume of 1,086,873 shares, compared to its average volume of 4,491,865. The company's fifty day simple moving average is $52.64 and its 200-day simple moving average is $55.28. Edison International has a one year low of $47.73 and a one year high of $88.77. The stock has a market cap of $19.79 billion, a price-to-earnings ratio of 7.30, a price-to-earnings-growth ratio of 1.23 and a beta of 0.75. The company has a debt-to-equity ratio of 2.06, a current ratio of 0.96 and a quick ratio of 0.89.

Edison International (NYSE:EIX - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.16. Edison International had a net margin of 16.84% and a return on equity of 13.21%. The business had revenue of $3.81 billion for the quarter, compared to analyst estimates of $4.29 billion. During the same quarter last year, the firm earned $1.13 EPS. Edison International's quarterly revenue was down 6.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, July 7th will be issued a dividend of $0.8275 per share. The ex-dividend date is Monday, July 7th. This represents a $3.31 annualized dividend and a yield of 6.43%. Edison International's dividend payout ratio (DPR) is currently 46.95%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on EIX. Wolfe Research downgraded shares of Edison International from an "outperform" rating to a "peer perform" rating in a report on Monday, June 9th. Barclays upped their price objective on shares of Edison International from $64.00 to $67.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. Evercore ISI reaffirmed an "outperform" rating on shares of Edison International in a report on Thursday, May 15th. Morgan Stanley reduced their price target on shares of Edison International from $52.00 to $51.00 and set an "underweight" rating for the company in a report on Wednesday, June 18th. Finally, JPMorgan Chase & Co. reduced 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. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, Edison International has an average rating of "Moderate Buy" and an average target price of $76.82.

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.