Quantbot Technologies LP Buys Shares of 59,090 Edison International (EIX)
Quantbot Technologies LP bought a new position in Edison International (NYSE:EIX) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 59,090 shares of the utilities provider’s stock, valued at approximately $4,620,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. M&T Bank Corp boosted its position in shares of Edison International by 327.8% in the second quarter. M&T Bank Corp now owns 117,241 shares of the utilities provider’s stock worth $9,167,000 after acquiring an additional 89,833 shares during the last quarter. Wealthfront Inc. acquired a new position in Edison International during the second quarter valued at approximately $801,000. FIL Ltd lifted its position in Edison International by 12.1% during the second quarter. FIL Ltd now owns 2,789,016 shares of the utilities provider’s stock valued at $218,073,000 after buying an additional 301,131 shares in the last quarter. MML Investors Services LLC lifted its position in Edison International by 8.8% during the second quarter. MML Investors Services LLC now owns 7,138 shares of the utilities provider’s stock valued at $558,000 after buying an additional 575 shares in the last quarter. Finally, TIAA FSB acquired a new position in Edison International during the second quarter valued at approximately $1,141,000. 81.53% of the stock is currently owned by institutional investors and hedge funds.
In other Edison International news, insider Ronald L. Litzinger sold 224,715 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $80.54, for a total transaction of $18,098,546.10. Following the completion of the sale, the insider now owns 14,121 shares of the company’s stock, valued at $1,137,305.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.41% of the stock is owned by corporate insiders.
Shares of Edison International (NYSE EIX) opened at 78.28 on Friday. Edison International has a 1-year low of $67.44 and a 1-year high of $82.82. The stock’s 50 day moving average is $80.05 and its 200-day moving average is $79.66. The stock has a market cap of $25.50 billion, a price-to-earnings ratio of 18.51 and a beta of 0.24.
Edison International (NYSE:EIX) last announced its earnings results on Thursday, July 27th. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.85. The firm had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.92 billion. Edison International had a return on equity of 10.58% and a net margin of 12.64%. The company’s revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.85 earnings per share. On average, analysts anticipate that Edison International will post $4.23 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be given a dividend of $0.5425 per share. The ex-dividend date is Thursday, September 28th. This represents a $2.17 dividend on an annualized basis and a yield of 2.77%. Edison International’s payout ratio is currently 50.82%.
EIX has been the topic of a number of recent research reports. Zacks Investment Research cut shares of Edison International from a “buy” rating to a “hold” rating in a research report on Friday, July 7th. BidaskClub raised shares of Edison International from a “sell” rating to a “hold” rating in a research report on Tuesday, August 22nd. Morgan Stanley reaffirmed an “equal weight” rating on shares of Edison International in a research report on Tuesday, July 11th. Finally, Jefferies Group LLC reaffirmed a “hold” rating on shares of Edison International in a research report on Friday, July 14th. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Edison International has an average rating of “Hold” and a consensus target price of $84.15.
Edison International Profile
Edison International is the holding company of Southern California Edison Company (SCE). As of December 31, 2016, SCE, a public utility, was primarily engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area of southern California. The Company is also the parent company of Edison Energy Group, Inc (Edison Energy Group), a holding company for subsidiaries engaged in pursuing competitive business opportunities across energy services and distributed solar to commercial and industrial customers.
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