KWB Wealth Sells 348 Shares of Edison International (NYSE:EIX)

KWB Wealth reduced its stake in shares of Edison International (NYSE:EIX) by 2.3% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 14,533 shares of the utilities provider’s stock after selling 348 shares during the period. KWB Wealth’s holdings in Edison International were worth $1,266,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EIX. State Street Corp grew its holdings in shares of Edison International by 0.7% in the third quarter. State Street Corp now owns 32,549,936 shares of the utilities provider’s stock valued at $2,834,774,000 after acquiring an additional 224,337 shares in the last quarter. FMR LLC grew its holdings in shares of Edison International by 8.7% in the third quarter. FMR LLC now owns 21,800,874 shares of the utilities provider’s stock valued at $1,898,638,000 after acquiring an additional 1,741,835 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Edison International by 2.2% in the third quarter. Geode Capital Management LLC now owns 9,620,520 shares of the utilities provider’s stock valued at $835,142,000 after acquiring an additional 210,461 shares in the last quarter. Clearbridge Investments LLC grew its holdings in shares of Edison International by 0.5% in the second quarter. Clearbridge Investments LLC now owns 5,015,988 shares of the utilities provider’s stock valued at $360,198,000 after acquiring an additional 24,834 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Edison International by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,340,116 shares of the utilities provider’s stock valued at $203,801,000 after acquiring an additional 28,240 shares in the last quarter. 88.95% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Edison International Trading Down 12.2 %

NYSE:EIX opened at $57.09 on Tuesday. The company has a market cap of $22.10 billion, a P/E ratio of 16.74, a P/E/G ratio of 1.96 and a beta of 0.93. The stock’s fifty day moving average price is $81.18 and its two-hundred day moving average price is $81.71. Edison International has a 1 year low of $55.27 and a 1 year high of $88.77. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81.

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

Edison International Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, January 7th will be issued a $0.8275 dividend. The ex-dividend date of this dividend is Tuesday, January 7th. This represents a $3.31 annualized dividend and a dividend yield of 5.80%. This is a boost from Edison International’s previous quarterly dividend of $0.78. Edison International’s dividend payout ratio is presently 97.07%.

Insider Transactions at Edison International

In other news, VP Adam S. Umanoff sold 25,619 shares of the company’s stock in a transaction on 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 legal filing with the SEC, which is available at this hyperlink. Insiders own 1.03% of the company’s stock.

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.