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Vestcor Inc Sells 5,412 Shares of Edison International (NYSE:EIX)

Edison International logo with Utilities background

Key Points

  • Vestcor Inc reduced its position in Edison International shares by 25.2%, now holding 16,041 shares worth $945,000 after selling 5,412 shares in the first quarter.
  • Edison International reported a quarterly earnings of $0.97 per share, surpassing the consensus estimate of $0.88, with revenue of $4.54 billion for the quarter, a 4.8% increase year-over-year.
  • The company recently announced a quarterly dividend of $0.8275 per share, representing an annualized dividend yield of 6.2% and a payout ratio of 46.95%.
  • Five stocks we like better than Edison International.

Vestcor Inc decreased its position in shares of Edison International (NYSE:EIX - Free Report) by 25.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,041 shares of the utilities provider's stock after selling 5,412 shares during the period. Vestcor Inc's holdings in Edison International were worth $945,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. BI Asset Management Fondsmaeglerselskab A S raised its stake in shares of Edison International by 0.4% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 54,673 shares of the utilities provider's stock valued at $4,365,000 after acquiring an additional 218 shares during the last quarter. KWB Wealth increased its position in shares of Edison International by 1.5% during the first quarter. KWB Wealth now owns 14,751 shares of the utilities provider's stock worth $869,000 after buying an additional 218 shares during the period. Private Advisor Group LLC increased its position in shares of Edison International by 1.5% during the first quarter. Private Advisor Group LLC now owns 17,764 shares of the utilities provider's stock worth $1,047,000 after buying an additional 254 shares during the period. Investment Management Corp VA ADV increased its position in shares of Edison International by 159.6% during the first quarter. Investment Management Corp VA ADV now owns 431 shares of the utilities provider's stock worth $25,000 after buying an additional 265 shares during the period. Finally, CarsonAllaria Wealth Management Ltd. increased its position in shares of Edison International by 11.5% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 2,735 shares of the utilities provider's stock worth $161,000 after buying an additional 281 shares during the period. Institutional investors own 88.95% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on EIX shares. Wolfe Research cut shares of Edison International from an "outperform" rating to a "peer perform" rating in a research report on Monday, June 9th. Morgan Stanley reduced their target price 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. Evercore ISI reiterated an "outperform" rating on shares of Edison International in a report on Thursday, May 15th. Barclays upped their target price on Edison International from $64.00 to $65.00 and gave the stock an "overweight" rating in a research report on Monday. 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 research report on Monday, May 19th. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $76.19.

Read Our Latest Stock Report on EIX

Edison International Stock Performance

Shares of NYSE EIX traded up $1.98 during trading on Monday, reaching $55.11. 5,142,320 shares of the company traded hands, compared to its average volume of 3,846,069. The firm has a 50 day simple moving average of $51.92 and a 200-day simple moving average of $54.44. The company has a quick ratio of 0.81, a current ratio of 0.87 and a debt-to-equity ratio of 2.03. The stock has a market capitalization of $21.20 billion, a PE ratio of 8.09, a P/E/G ratio of 1.25 and a beta of 0.75. Edison International has a 52-week low of $47.73 and a 52-week high of $88.77.

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. The company had revenue of $4.54 billion for the quarter, compared to the consensus estimate of $4.52 billion. Edison International had a net margin of 16.00% and a return on equity of 11.99%. The firm's revenue was up 4.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.23 earnings per share. Equities research analysts anticipate that Edison International will post 4.95 earnings per share for the current year.

Edison International Announces Dividend

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

About Edison International

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Edison International (NYSE:EIX)

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