Clearbridge Investments LLC Sells 341,424 Shares of Edison International (NYSE:EIX)

Clearbridge Investments LLC decreased its stake in shares of Edison International (NYSE:EIX) by 6.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,887,930 shares of the utilities provider’s stock after selling 341,424 shares during the quarter. Clearbridge Investments LLC owned about 1.26% of Edison International worth $390,252,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. CIBC Private Wealth Group LLC raised its holdings in Edison International by 5.8% in the 4th quarter. CIBC Private Wealth Group LLC now owns 13,126 shares of the utilities provider’s stock worth $1,048,000 after acquiring an additional 722 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in Edison International by 7.1% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 358,176 shares of the utilities provider’s stock worth $28,597,000 after buying an additional 23,631 shares in the last quarter. Schroder Investment Management Group lifted its stake in Edison International by 31.1% during the 4th quarter. Schroder Investment Management Group now owns 785,083 shares of the utilities provider’s stock valued at $62,555,000 after acquiring an additional 186,265 shares during the period. Allianz SE bought a new position in Edison International during the 4th quarter valued at about $829,000. Finally, Intrust Bank NA grew its stake in shares of Edison International by 11.7% in the fourth quarter. Intrust Bank NA now owns 5,603 shares of the utilities provider’s stock worth $447,000 after acquiring an additional 587 shares during the period. 88.95% of the stock is owned by hedge funds and other institutional investors.

Edison International Stock Performance

Shares of NYSE:EIX opened at $58.20 on Friday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. The firm has a market cap of $22.41 billion, a PE ratio of 17.07, a price-to-earnings-growth ratio of 1.07 and a beta of 0.87. The firm’s 50 day simple moving average is $55.00 and its 200-day simple moving average is $72.50. Edison International has a one year low of $49.06 and a one year high of $88.77.

Edison International (NYSE:EIX) last released its quarterly earnings data on Thursday, February 27th. The utilities provider reported $1.05 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.03). Edison International had a return on equity of 13.17% and a net margin of 8.52%. The firm had revenue of $17.60 billion for the quarter, compared to analysts’ expectations of $3.92 billion. As a group, equities analysts predict that Edison International will post 4.95 EPS for the current year.

Edison International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, April 7th will be issued a dividend of $0.8275 per share. This represents a $3.31 annualized dividend and a yield of 5.69%. The ex-dividend date of this dividend is Monday, April 7th. Edison International’s payout ratio is 100.30%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Morgan Stanley boosted their target price on shares of Edison International from $48.00 to $52.00 and gave the company an “underweight” rating in a research note on Thursday, March 20th. The Goldman Sachs Group dropped their price target on shares of Edison International from $88.00 to $68.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Guggenheim downgraded Edison International from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. Barclays lowered their price objective on Edison International from $67.00 to $65.00 and set an “overweight” rating for the company in a research note on Monday, March 3rd. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $72.00 target price on shares of Edison International in a report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Edison International currently has an average rating of “Moderate Buy” and an average target price of $76.82.

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.