Edison International (NYSE:EIX) Holdings Boosted by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans raised its position in Edison International (NYSE:EIX) by 15.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 23,095 shares of the utilities provider’s stock after acquiring an additional 3,078 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Edison International were worth $2,011,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. Clearbridge Investments LLC increased its stake 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 purchasing an additional 24,834 shares during the period. American Century Companies Inc. increased its stake in shares of Edison International by 1.8% in 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 purchasing an additional 67,089 shares during the period. Hsbc Holdings PLC increased its stake in shares of Edison International by 10.1% in the second quarter. Hsbc Holdings PLC now owns 2,073,569 shares of the utilities provider’s stock valued at $148,768,000 after purchasing an additional 190,026 shares during the period. Dimensional Fund Advisors LP increased its stake 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 acquiring an additional 218,762 shares during the period. Finally, abrdn plc increased its stake 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 acquiring an additional 885,955 shares during the period. Institutional investors and hedge funds own 88.95% of the company’s stock.

Insiders Place Their Bets

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 filing with the SEC, which can be accessed through the SEC website. Insiders own 1.20% of the company’s stock.

Edison International Price Performance

EIX opened at $88.36 on Friday. Edison International has a 12-month low of $63.15 and a 12-month high of $88.77. 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 has a market capitalization of $34.21 billion, a P/E ratio of 25.91, a PEG ratio of 2.09 and a beta of 0.92. The stock has a fifty day moving average of $84.84 and a 200-day moving average of $80.46.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.13. The firm had revenue of $5.20 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the company posted $1.38 EPS. Equities analysts forecast that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Announces Dividend

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

Analyst Ratings Changes

A number of research analysts recently commented on EIX shares. Morgan Stanley lowered their price objective on shares of Edison International from $74.00 to $72.00 and set an “underweight” rating on the stock in a research note on Friday, November 22nd. Argus raised their price objective on shares of Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Barclays raised their price objective on shares of Edison International from $89.00 to $91.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Wells Fargo & Company raised their price objective 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. Finally, Evercore ISI raised their price objective 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Edison International presently has an average rating of “Moderate Buy” and a consensus target price of $88.75.

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.