Ausbil Investment Management Ltd Sells 38,174 Shares of Edison International (NYSE:EIX)

Ausbil Investment Management Ltd lowered its holdings in Edison International (NYSE:EIX) by 48.0% in the fourth quarter, Holdings Channel reports. The firm owned 41,305 shares of the utilities provider’s stock after selling 38,174 shares during the quarter. Edison International comprises about 2.0% of Ausbil Investment Management Ltd’s holdings, making the stock its 22nd biggest position. Ausbil Investment Management Ltd’s holdings in Edison International were worth $3,296,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Lake Street Advisors Group LLC grew its position in shares of Edison International by 4.3% in the 3rd quarter. Lake Street Advisors Group LLC now owns 3,015 shares of the utilities provider’s stock valued at $263,000 after acquiring an additional 124 shares during the period. Baker Tilly Wealth Management LLC grew its position in shares of Edison International by 2.8% in the 3rd quarter. Baker Tilly Wealth Management LLC now owns 4,779 shares of the utilities provider’s stock valued at $416,000 after acquiring an additional 129 shares during the period. SFE Investment Counsel grew its position in shares of Edison International by 0.3% in the 3rd quarter. SFE Investment Counsel now owns 42,730 shares of the utilities provider’s stock valued at $3,721,000 after acquiring an additional 130 shares during the period. Assetmark Inc. grew its position in shares of Edison International by 32.9% in the 3rd quarter. Assetmark Inc. now owns 634 shares of the utilities provider’s stock valued at $55,000 after acquiring an additional 157 shares during the period. Finally, Dynamic Advisor Solutions LLC grew its position in shares of Edison International by 2.1% in the 3rd quarter. Dynamic Advisor Solutions LLC now owns 7,697 shares of the utilities provider’s stock valued at $670,000 after acquiring an additional 159 shares during the period. Institutional investors own 88.95% of the company’s stock.

Edison International Price Performance

Shares of Edison International stock opened at $53.98 on Friday. Edison International has a twelve month low of $53.26 and a twelve 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 company has a 50-day simple moving average of $74.80 and a two-hundred day simple moving average of $80.37. The stock has a market capitalization of $20.90 billion, a price-to-earnings ratio of 15.83, a price-to-earnings-growth ratio of 1.15 and a beta of 0.93.

Edison International (NYSE:EIX) last issued its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, topping 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 business had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.01 billion. During the same quarter in the previous year, the company earned $1.38 EPS. The business’s revenue was up 10.6% on a year-over-year basis. Analysts forecast that Edison International will post 4.94 EPS for the current year.

Edison International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, January 7th were issued a $0.8275 dividend. This is a positive change from Edison International’s previous quarterly dividend of $0.78. This represents a $3.31 annualized dividend and a yield of 6.13%. The ex-dividend date of this dividend was Tuesday, January 7th. Edison International’s dividend payout ratio (DPR) is currently 97.07%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on EIX. UBS Group decreased their price objective on shares of Edison International from $87.00 to $69.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Jefferies Financial Group initiated coverage on shares of Edison International in a research report on Thursday, November 7th. They issued a “buy” rating and a $93.00 price objective for the company. Guggenheim cut shares of Edison International from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. Wells Fargo & Company raised their target price on shares of Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, LADENBURG THALM/SH SH upgraded shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 target price for the company in a research note on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $82.88.

Edison International 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.