Banque Cantonale Vaudoise Reduces Stake in Edison International (NYSE:EIX)

Banque Cantonale Vaudoise lowered its stake in Edison International (NYSE:EIX) by 90.5% in the 3rd quarter, HoldingsChannel reports. The fund owned 1,001 shares of the utilities provider’s stock after selling 9,531 shares during the period. Banque Cantonale Vaudoise’s holdings in Edison International were worth $87,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Clearbridge Investments LLC grew its position in Edison International by 0.5% in the second quarter. Clearbridge Investments LLC now owns 5,015,988 shares of the utilities provider’s stock worth $360,198,000 after acquiring an additional 24,834 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Edison International by 1.8% during the second quarter. American Century Companies Inc. now owns 3,864,399 shares of the utilities provider’s stock valued at $277,503,000 after buying an additional 67,089 shares during the period. Hsbc Holdings PLC boosted its position in shares of Edison International by 10.1% during the second quarter. Hsbc Holdings PLC now owns 2,073,569 shares of the utilities provider’s stock valued at $148,768,000 after buying an additional 190,026 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Edison International by 15.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,635,880 shares of the utilities provider’s stock valued at $117,476,000 after buying an additional 218,762 shares during the period. Finally, abrdn plc boosted its position in shares of Edison International by 166.4% during the third quarter. abrdn plc now owns 1,418,526 shares of the utilities provider’s stock valued at $123,149,000 after buying an additional 885,955 shares during the period. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on EIX shares. Jefferies Financial Group assumed coverage on Edison International in a research report on Thursday, November 7th. They set a “buy” rating and a $93.00 target price for the company. Wells Fargo & Company lifted their price target on shares of Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Guggenheim lifted their price target on shares of Edison International from $80.00 to $83.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Evercore ISI lifted their price target on shares of Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday, August 14th. Finally, Bank of America started coverage on shares of Edison International in a research note on Thursday, September 12th. They issued a “buy” rating and a $95.00 price objective for the company. One equities research 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. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $88.75.

Insider Activity

In other Edison International 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 document filed with the SEC, which is available through this hyperlink. Also, CEO J Andrew Murphy sold 23,896 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $85.45, for a total transaction of $2,041,913.20. Following the completion of the sale, the chief executive officer now directly owns 19,850 shares in the company, valued at approximately $1,696,182.50. The trade was a 54.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 49,516 shares of company stock valued at $4,169,652 over the last ninety days. 1.03% of the stock is currently owned by insiders.

Edison International Stock Performance

Shares of EIX stock opened at $86.51 on Friday. The business’s fifty day simple moving average is $84.64 and its 200-day simple moving average is $80.08. The company has a market cap of $33.49 billion, a PE ratio of 25.37, a PEG ratio of 2.05 and a beta of 0.92. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. Edison International has a 12-month low of $63.15 and a 12-month high of $88.77.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.13. The business 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 period in the prior year, the firm posted $1.38 earnings per share. Analysts expect that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 7th were issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date of this dividend was Monday, October 7th. Edison International’s dividend payout ratio (DPR) is presently 91.50%.

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.