US Bancorp DE Reduces Holdings in Edison International (NYSE:EIX)

US Bancorp DE reduced its position in shares of Edison International (NYSE:EIX - Free Report) by 12.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,771 shares of the utilities provider's stock after selling 7,589 shares during the quarter. US Bancorp DE's holdings in Edison International were worth $3,168,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Wells Fargo & Company MN grew its stake in Edison International by 3.5% in the 4th quarter. Wells Fargo & Company MN now owns 475,891 shares of the utilities provider's stock valued at $37,995,000 after buying an additional 15,889 shares during the last quarter. Federated Hermes Inc. lifted its holdings in Edison International by 5,334.4% during the 4th quarter. Federated Hermes Inc. now owns 266,668 shares of the utilities provider's stock worth $21,291,000 after purchasing an additional 261,761 shares during the last quarter. Bank of Montreal Can boosted its stake in Edison International by 4.5% in the 4th quarter. Bank of Montreal Can now owns 751,731 shares of the utilities provider's stock valued at $60,018,000 after purchasing an additional 32,317 shares during the period. Invesco Ltd. boosted its stake in Edison International by 38.2% in the 4th quarter. Invesco Ltd. now owns 4,816,638 shares of the utilities provider's stock valued at $384,560,000 after purchasing an additional 1,331,941 shares during the period. Finally, Bank of Nova Scotia grew its stake in shares of Edison International by 390.8% in the fourth quarter. Bank of Nova Scotia now owns 242,233 shares of the utilities provider's stock valued at $19,340,000 after acquiring an additional 192,882 shares in the last quarter. Institutional investors own 88.95% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on EIX shares. Evercore ISI reaffirmed an "outperform" rating on shares of Edison International in a report on Thursday, May 15th. Barclays upped their price objective on shares of Edison International from $64.00 to $65.00 and gave the stock an "overweight" rating in a research report on Monday. JPMorgan Chase & Co. decreased their target price on shares of Edison International from $75.00 to $71.00 and set a "neutral" rating on the stock in a report on Monday, May 19th. Wolfe Research lowered shares of Edison International from an "outperform" rating to a "peer perform" rating in a research report on Monday, June 9th. Finally, Morgan Stanley lowered their price objective on shares of Edison International from $52.00 to $51.00 and set an "underweight" rating for the company in a research report on Wednesday, June 18th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $76.19.

Edison International Stock Down 2.2%

Shares of Edison International stock traded down $1.19 during trading hours on Friday, reaching $53.75. The company's stock had a trading volume of 4,797,568 shares, compared to its average volume of 4,518,315. The company has a market capitalization of $20.68 billion, a P/E ratio of 7.89, a P/E/G ratio of 1.29 and a beta of 0.75. The stock's fifty day simple moving average is $51.83 and its two-hundred day simple moving average is $54.34. Edison International has a one year low of $47.73 and a one year high of $88.77. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.81 and a current ratio of 0.87.

Edison International (NYSE:EIX - Get Free Report) last posted 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 firm had revenue of $4.54 billion for the quarter, compared to the consensus estimate of $4.52 billion. During the same period in the previous year, the firm earned $1.23 EPS. The business's revenue for the quarter was up 4.8% compared to the same quarter last year. On average, research analysts forecast that Edison International will post 4.95 earnings per share for the current year.

Edison International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, July 7th were paid a $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a yield of 6.2%. The ex-dividend date was Monday, July 7th. Edison International's payout ratio is presently 48.60%.

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.