Fifth Third Wealth Advisors LLC Buys 2,761 Shares of Edison International (NYSE:EIX)

Fifth Third Wealth Advisors LLC lifted its stake in shares of Edison International (NYSE:EIX) by 36.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,255 shares of the utilities provider’s stock after buying an additional 2,761 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Edison International were worth $819,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. State Street Corp boosted its holdings in Edison International by 0.7% during the 3rd quarter. State Street Corp now owns 32,549,936 shares of the utilities provider’s stock worth $2,834,774,000 after acquiring an additional 224,337 shares during the last quarter. FMR LLC raised 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 purchasing an additional 1,741,835 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Edison International by 2.2% during 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 purchasing an additional 210,461 shares in the last quarter. Clearbridge Investments LLC boosted its holdings in Edison International by 0.5% during the second quarter. Clearbridge Investments LLC now owns 5,015,988 shares of the utilities provider’s stock worth $360,198,000 after purchasing an additional 24,834 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Edison International by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,340,116 shares of the utilities provider’s stock worth $203,801,000 after purchasing an additional 28,240 shares in the last quarter. Institutional investors own 88.95% of the company’s stock.

Edison International Price Performance

NYSE EIX opened at $61.31 on Thursday. The company has a market cap of $23.74 billion, a PE ratio of 17.98, a price-to-earnings-growth ratio of 1.96 and a beta of 0.93. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. The firm’s 50-day simple moving average is $80.71 and its two-hundred day simple moving average is $81.62. Edison International has a 52 week low of $55.27 and a 52 week high of $88.77.

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

Edison International Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, January 7th will be given a $0.8275 dividend. The ex-dividend date is Tuesday, January 7th. This is a boost from Edison International’s previous quarterly dividend of $0.78. This represents a $3.31 annualized dividend and a dividend yield of 5.40%. Edison International’s payout ratio is 97.07%.

Insider Activity at Edison International

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the firm’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $83.05, for a total value of $2,127,657.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.03% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. 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 target price on the stock. Morgan Stanley cut their price objective on Edison International from $74.00 to $72.00 and set an “underweight” rating on the stock in a research report on Friday, November 22nd. Barclays decreased their target price on Edison International from $84.00 to $76.00 and set an “overweight” rating for the company in a research report on Monday. Wells Fargo & Company boosted their price target on shares of Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, LADENBURG THALM/SH SH upgraded shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price target for the company in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine 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 price target of $84.96.

Edison International Company Profile

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.