103,516 Shares in Edison International (NYSE:EIX) Bought by Martingale Asset Management L P

Martingale Asset Management L P acquired a new position in shares of Edison International (NYSE:EIX) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 103,516 shares of the utilities provider’s stock, valued at approximately $9,015,000.

A number of other large investors also recently bought and sold shares of EIX. FMR LLC raised its position in Edison International by 8.7% during the 3rd quarter. FMR LLC now owns 21,800,874 shares of the utilities provider’s stock worth $1,898,638,000 after buying an additional 1,741,835 shares during the last quarter. abrdn plc raised its position in Edison International by 166.4% during the 3rd quarter. abrdn plc now owns 1,418,526 shares of the utilities provider’s stock worth $123,149,000 after buying an additional 885,955 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its position in Edison International by 117.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 781,736 shares of the utilities provider’s stock worth $68,081,000 after buying an additional 422,752 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in Edison International by 595.9% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 318,672 shares of the utilities provider’s stock worth $22,884,000 after buying an additional 272,876 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new position in Edison International during the 2nd quarter worth $18,484,000. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Insiders Place Their Bets

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 shares were sold at an average price of $83.05, for a total transaction of $2,127,657.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.03% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on EIX shares. Barclays upped their price objective on shares of Edison International from $89.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Morgan Stanley cut their price target on shares of Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a report on Friday, November 22nd. Wells Fargo & Company increased their price target on shares of Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Evercore ISI increased their price target on shares of Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, August 14th. Finally, Bank of America assumed coverage on shares of Edison International in a report on Thursday, September 12th. They issued a “buy” rating and a $95.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $88.75.

Edison International Stock Performance

NYSE:EIX opened at $87.75 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. The firm has a 50-day moving average price of $84.89 and a two-hundred day moving average price of $80.56. Edison International has a twelve month low of $63.15 and a twelve month high of $88.77. The company has a market capitalization of $33.97 billion, a P/E ratio of 25.73, a price-to-earnings-growth ratio of 2.11 and a beta of 0.92.

Edison International (NYSE:EIX) last posted its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, beating 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 firm 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 posted $1.38 EPS. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. As a group, research analysts expect that Edison International will post 4.94 earnings per share for the current fiscal year.

Edison International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 7th were paid a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $3.12 annualized dividend and a dividend yield of 3.56%. Edison International’s dividend payout ratio is currently 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.