Nuveen Asset Management LLC Sells 76,749 Shares of Edison International (NYSE:EIX)

Nuveen Asset Management LLC lessened its holdings in Edison International (NYSE:EIX - Free Report) by 9.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 777,848 shares of the utilities provider's stock after selling 76,749 shares during the quarter. Nuveen Asset Management LLC owned 0.20% of Edison International worth $62,103,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of EIX. Norges Bank bought a new position in Edison International in the fourth quarter valued at about $323,443,000. Canada Pension Plan Investment Board grew its holdings in shares of Edison International by 364.1% during the 4th 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 increased its position in Edison International by 53.9% during the 4th quarter. Northern Trust Corp now owns 5,757,034 shares of the utilities provider's stock worth $459,642,000 after purchasing an additional 2,016,017 shares in the last quarter. Ameriprise Financial Inc. increased its position in Edison International by 149.3% during the 4th quarter. Ameriprise Financial Inc. now owns 2,793,795 shares of the utilities provider's stock worth $223,057,000 after purchasing an additional 1,673,204 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Edison International by 3.3% in the 4th quarter. Vanguard Group Inc. now owns 48,589,777 shares of the utilities provider's stock valued at $3,879,408,000 after purchasing an additional 1,559,501 shares during the last quarter. Institutional investors own 88.95% of the company's stock.

Edison International Stock Down 2.4%

NYSE:EIX traded down $1.38 during trading hours on Wednesday, reaching $56.94. The company had a trading volume of 2,807,059 shares, compared to its average volume of 3,038,328. Edison International has a twelve month low of $49.06 and a twelve month high of $88.77. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. The firm has a market cap of $21.91 billion, a price-to-earnings ratio of 16.70, a P/E/G ratio of 1.07 and a beta of 0.77. The business's 50-day simple moving average is $56.91 and its two-hundred day simple moving average is $64.86.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.21 by $0.16. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The company had revenue of $3.81 billion for the quarter, compared to analysts' expectations of $4.29 billion. During the same quarter in the prior year, the firm earned $1.13 EPS. The business's revenue was down 6.5% on a year-over-year basis. On average, equities analysts expect that Edison International will post 4.95 earnings per share for the current year.

Edison International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, April 7th were issued a dividend of $0.8275 per share. The ex-dividend date was Monday, April 7th. This represents a $3.31 annualized dividend and a dividend yield of 5.81%. Edison International's dividend payout ratio is 46.95%.

Analyst Ratings Changes

A number of research analysts have recently commented on EIX shares. Guggenheim cut Edison International from a "buy" rating to a "neutral" rating in a research note on Thursday, January 23rd. Barclays increased their target price on Edison International from $64.00 to $67.00 and gave the company an "overweight" rating in a research report on Thursday, May 1st. 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 report on Monday. The Goldman Sachs Group dropped their price objective on shares of Edison International from $88.00 to $68.00 and set a "neutral" rating for the company in a report on Tuesday, March 4th. Finally, Evercore ISI reiterated an "outperform" rating on shares of Edison International in a research report on Thursday, May 15th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $76.89.

About Edison International

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.