Edison International (NYSE:EIX) Shares Bought by Czech National Bank

Czech National Bank lifted its position in shares of Edison International (NYSE:EIX) by 6.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 83,942 shares of the utilities provider’s stock after purchasing an additional 5,274 shares during the period. Czech National Bank’s holdings in Edison International were worth $6,702,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in EIX. Acadian Asset Management LLC acquired a new position in Edison International in the 2nd quarter worth $703,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Edison International in the second quarter worth about $27,000. Choreo LLC purchased a new position in Edison International in the second quarter valued at about $402,000. DekaBank Deutsche Girozentrale grew its stake in Edison International by 1.8% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 74,918 shares of the utilities provider’s stock valued at $5,319,000 after purchasing an additional 1,322 shares in the last quarter. Finally, Federated Hermes Inc. increased its holdings in Edison International by 87.9% during the 2nd quarter. Federated Hermes Inc. now owns 3,326 shares of the utilities provider’s stock worth $239,000 after purchasing an additional 1,556 shares during the last quarter. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Edison International

In related news, VP Adam S. Umanoff sold 25,619 shares of the company’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $83.05, for a total value of $2,127,657.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on EIX shares. Wells Fargo & Company increased their target price on Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Morgan Stanley reduced their price objective on shares of Edison International from $74.00 to $72.00 and set an “underweight” rating on the stock in a research note on Friday, November 22nd. Barclays dropped their target price on shares of Edison International from $84.00 to $76.00 and set an “overweight” rating for the company in a research report on Monday. Royal Bank of Canada increased their price target on shares of Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Finally, Jefferies Financial Group began coverage on Edison International in a report on Thursday, November 7th. They issued a “buy” rating and a $93.00 price objective for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.33.

Edison International Stock Up 2.2 %

EIX stock opened at $58.51 on Wednesday. The stock has a market cap of $22.65 billion, a PE ratio of 17.16, a price-to-earnings-growth ratio of 1.96 and a beta of 0.93. The firm’s 50-day simple moving average is $80.71 and its 200 day simple moving average is $81.62. Edison International has a fifty-two week low of $55.27 and a fifty-two week 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.

Edison International (NYSE:EIX) last announced its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, beating the consensus estimate of $1.38 by $0.13. The company had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.01 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. Edison International’s revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.38 earnings per share. As a group, sell-side analysts predict that Edison International will post 4.94 EPS for the current year.

Edison International Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, January 7th will be given a dividend of $0.8275 per share. This represents a $3.31 dividend on an annualized basis and a yield of 5.66%. The ex-dividend date of this dividend is Tuesday, January 7th. This is a positive change from Edison International’s previous quarterly dividend of $0.78. Edison International’s payout ratio is 97.07%.

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.