Quantbot Technologies LP Grows Stock Position in Edison International (NYSE:EIX)

Quantbot Technologies LP lifted its holdings in shares of Edison International (NYSE:EIX) by 19.4% during the third quarter, Holdings Channel.com reports. The fund owned 31,404 shares of the utilities provider’s stock after acquiring an additional 5,105 shares during the period. Quantbot Technologies LP’s holdings in Edison International were worth $2,735,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of EIX. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Edison International during the 3rd quarter valued at approximately $1,387,000. Swedbank AB grew its holdings in shares of Edison International by 76.3% during the second quarter. Swedbank AB now owns 446,637 shares of the utilities provider’s stock valued at $32,073,000 after buying an additional 193,307 shares during the last quarter. Janus Henderson Group PLC raised its stake in Edison International by 150.6% in the 1st quarter. Janus Henderson Group PLC now owns 169,742 shares of the utilities provider’s stock worth $12,004,000 after acquiring an additional 102,000 shares during the last quarter. Cetera Investment Advisers lifted its position in Edison International by 955.8% during the 1st quarter. Cetera Investment Advisers now owns 104,805 shares of the utilities provider’s stock worth $7,413,000 after acquiring an additional 94,878 shares during the period. Finally, Baker Avenue Asset Management LP purchased a new stake in Edison International during the 3rd quarter valued at about $2,291,000. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Stock Performance

NYSE EIX opened at $88.39 on Thursday. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. The company has a market cap of $34.22 billion, a P/E ratio of 25.92, a P/E/G ratio of 2.09 and a beta of 0.92. The stock has a 50-day moving average of $84.76 and a two-hundred day moving average of $80.41. Edison International has a 1-year low of $63.15 and a 1-year high of $88.77.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.13. The firm had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.01 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.38 earnings per share. As a group, analysts anticipate that Edison International will post 4.95 EPS for the current year.

Edison International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, October 7th were issued a $0.78 dividend. The ex-dividend date of this dividend was Monday, October 7th. This represents a $3.12 dividend on an annualized basis and a yield of 3.53%. Edison International’s dividend payout ratio (DPR) is presently 91.50%.

Insider Buying and Selling

In other news, VP Adam S. Umanoff sold 25,619 shares of the business’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $83.05, for a total transaction of $2,127,657.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on EIX. Barclays raised their price objective on Edison International from $89.00 to $91.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Argus boosted their target price on shares of Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. UBS Group raised their target price on Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. Morgan Stanley dropped their price target on shares of Edison International from $74.00 to $72.00 and set an “underweight” rating on the stock in a research report on Friday, November 22nd. Finally, Bank of America began coverage on Edison International in a research report on Thursday, September 12th. They issued a “buy” rating and a $95.00 price objective for the company. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Edison International currently has an average rating of “Moderate Buy” and an average target price of $88.75.

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.