Schwab Charles Investment Management Inc. Has $96.75 Million Position in Edison International (EIX)
Schwab Charles Investment Management Inc. boosted its stake in shares of Edison International (NYSE:EIX) by 3.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,215,247 shares of the utilities provider’s stock after buying an additional 36,527 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Edison International were worth $96,746,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently bought and sold shares of EIX. Guardian Life Insurance Co. of America boosted its stake in Edison International by 0.6% in the first quarter. Guardian Life Insurance Co. of America now owns 1,256 shares of the utilities provider’s stock valued at $100,000 after buying an additional 8 shares during the period. Jones Collombin Investment Counsel Inc boosted its stake in Edison International by 69.4% in the first quarter. Jones Collombin Investment Counsel Inc now owns 1,745 shares of the utilities provider’s stock valued at $139,000 after buying an additional 715 shares during the period. Van ECK Associates Corp boosted its stake in Edison International by 24.6% in the fourth quarter. Van ECK Associates Corp now owns 2,387 shares of the utilities provider’s stock valued at $172,000 after buying an additional 472 shares during the period. Wayne Hummer Investments L.L.C. purchased a new stake in Edison International during the first quarter valued at $200,000. Finally, Parallel Advisors LLC boosted its stake in Edison International by 41.7% in the first quarter. Parallel Advisors LLC now owns 2,517 shares of the utilities provider’s stock valued at $198,000 after buying an additional 741 shares during the period. 82.45% of the stock is owned by institutional investors and hedge funds.
Edison International (NYSE:EIX) opened at 80.03 on Monday. The firm has a market capitalization of $26.07 billion, a price-to-earnings ratio of 18.96 and a beta of 0.23. The stock has a 50 day moving average of $80.11 and a 200 day moving average of $76.92. Edison International has a one year low of $67.44 and a one year high of $82.82.
Edison International (NYSE:EIX) last released its quarterly earnings data on Monday, May 1st. The utilities provider reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.21. Edison International had a net margin of 12.82% and a return on equity of 10.78%. The company had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.71 billion. During the same period in the previous year, the firm earned $0.82 earnings per share. Edison International’s revenue for the quarter was up .9% on a year-over-year basis. Analysts forecast that Edison International will post $4.21 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 31st. Shareholders of record on Friday, June 30th will be paid a dividend of $0.5425 per share. The ex-dividend date of this dividend is Wednesday, June 28th. This represents a $2.17 annualized dividend and a yield of 2.71%. Edison International’s dividend payout ratio is currently 50.94%.
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Several research firms have recently weighed in on EIX. BidaskClub raised shares of Edison International from a “sell” rating to a “hold” rating in a research note on Monday, June 19th. Jefferies Group LLC reissued a “hold” rating and issued a $83.00 price target (up previously from $80.00) on shares of Edison International in a research note on Tuesday, May 2nd. Deutsche Bank AG increased their price target on shares of Edison International from $79.00 to $81.00 and gave the company a “hold” rating in a research note on Tuesday, April 11th. Barclays PLC reissued an “equal weight” rating and issued a $84.00 price target (up previously from $78.00) on shares of Edison International in a research note on Sunday, April 23rd. Finally, Wolfe Research cut shares of Edison International from an “outperform” rating to a “market perform” rating in a research note on Thursday, May 11th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $82.41.
In other Edison International news, insider Gaddi H. Vasquez sold 3,657 shares of the business’s stock in a transaction that occurred on Friday, March 31st. The shares were sold at an average price of $80.00, for a total transaction of $292,560.00. Following the completion of the sale, the insider now directly owns 7,466 shares in the company, valued at $597,280. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Ronald L. Litzinger sold 26,035 shares of the business’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $78.85, for a total transaction of $2,052,859.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,692 shares of company stock valued at $2,752,845. 0.41% of the stock is owned by insiders.
Edison International Company 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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