Zurcher Kantonalbank Zurich Cantonalbank Lowers Stock Position in Edison International (NYSE:EIX)

Zurcher Kantonalbank Zurich Cantonalbank trimmed its holdings in Edison International (NYSE:EIX) by 0.8% in the 3rd quarter, Holdings Channel reports. The fund owned 443,202 shares of the utilities provider’s stock after selling 3,791 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Edison International were worth $38,598,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Edison International during the third quarter valued at approximately $1,387,000. Swedbank AB raised its stake in Edison International by 76.3% during the second quarter. Swedbank AB now owns 446,637 shares of the utilities provider’s stock valued at $32,073,000 after buying an additional 193,307 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Edison International by 150.6% in the first quarter. Janus Henderson Group PLC now owns 169,742 shares of the utilities provider’s stock worth $12,004,000 after acquiring an additional 102,000 shares in the last quarter. Cetera Investment Advisers grew its stake in shares of Edison International by 955.8% in the first quarter. Cetera Investment Advisers now owns 104,805 shares of the utilities provider’s stock worth $7,413,000 after acquiring an additional 94,878 shares during the last quarter. Finally, Baker Avenue Asset Management LP bought a new position in shares of Edison International during the third quarter valued at $2,291,000. 88.95% of the stock is owned by hedge funds and other institutional investors.

Edison International Stock Up 0.7 %

Shares of EIX stock opened at $88.36 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. Edison International has a 12 month low of $63.15 and a 12 month high of $88.77. The stock has a market cap of $34.21 billion, a P/E ratio of 25.91, a P/E/G ratio of 2.11 and a beta of 0.92. The company has a 50 day simple moving average of $84.84 and a two-hundred day simple moving average of $80.46.

Edison International (NYSE:EIX) last posted 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. 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%. Edison International’s revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.38 EPS. On average, research analysts expect that Edison International will post 4.94 earnings per share for the current year.

Edison International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors 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 dividend on an annualized basis and a dividend yield of 3.53%. Edison International’s dividend payout ratio (DPR) is presently 91.50%.

Insider Buying and Selling

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 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 currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on EIX shares. Bank of America assumed coverage on shares of Edison International in a research note on Thursday, September 12th. They issued a “buy” rating and a $95.00 price target on the stock. Barclays raised their price target on shares of Edison International from $89.00 to $91.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Royal Bank of Canada upped their price objective on Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. UBS Group boosted their price target on Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. Finally, Morgan Stanley dropped 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. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.