Vinva Investment Management Ltd Buys 19,294 Shares of Edison International (NYSE:EIX)

Vinva Investment Management Ltd grew its stake in shares of Edison International (NYSE:EIX) by 148.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 32,317 shares of the utilities provider’s stock after acquiring an additional 19,294 shares during the quarter. Vinva Investment Management Ltd’s holdings in Edison International were worth $2,575,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Generali Asset Management SPA SGR bought a new stake in shares of Edison International during the 4th quarter worth $7,087,000. Cozad Asset Management Inc. lifted its position in shares of Edison International by 26.9% during the 4th quarter. Cozad Asset Management Inc. now owns 3,205 shares of the utilities provider’s stock worth $256,000 after buying an additional 680 shares during the last quarter. Cibc World Markets Corp lifted its position in shares of Edison International by 16.6% during the 4th quarter. Cibc World Markets Corp now owns 61,064 shares of the utilities provider’s stock worth $4,875,000 after buying an additional 8,695 shares during the last quarter. Corient Private Wealth LLC lifted its position in shares of Edison International by 0.6% during the 4th quarter. Corient Private Wealth LLC now owns 56,285 shares of the utilities provider’s stock worth $4,494,000 after buying an additional 351 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted its position in shares of Edison International by 35.6% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 12,321 shares of the utilities provider’s stock worth $984,000 after buying an additional 3,233 shares during the last quarter. 88.95% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on EIX shares. UBS Group upgraded Edison International from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $69.00 to $65.00 in a research report on Tuesday, February 18th. Mizuho dropped their target price on Edison International from $75.00 to $66.00 and set an “outperform” rating for the company in a research report on Monday, March 3rd. Morgan Stanley dropped their target price on Edison International from $71.00 to $48.00 and set an “underweight” rating for the company in a research report on Friday, February 14th. Barclays dropped their target price on Edison International from $67.00 to $65.00 and set an “overweight” rating for the company in a research report on Monday, March 3rd. Finally, Guggenheim downgraded Edison International from a “buy” rating to a “neutral” rating in a research report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $76.54.

Edison International Trading Down 0.3 %

Shares of EIX stock opened at $58.53 on Thursday. The stock has a 50-day moving average of $55.58 and a 200-day moving average of $73.91. Edison International has a 1-year low of $49.06 and a 1-year high of $88.77. The stock has a market cap of $22.54 billion, a price-to-earnings ratio of 17.16, a PEG ratio of 1.07 and a beta of 0.87. 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 (NYSE:EIX) last released its earnings results on Thursday, February 27th. The utilities provider reported $1.05 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.03). Edison International had a return on equity of 13.17% and a net margin of 8.52%. The business had revenue of $17.60 billion for the quarter, compared to analyst estimates of $3.92 billion. On average, equities research analysts forecast that Edison International will post 4.95 earnings per share for the current year.

Edison International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, April 7th will be paid a dividend of $0.8275 per share. The ex-dividend date is Monday, April 7th. This represents a $3.31 annualized dividend and a yield of 5.66%. Edison International’s dividend payout ratio is currently 100.30%.

About Edison International

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.