Quantbot Technologies LP Raises Position in Edison International (NYSE:EIX)

Quantbot Technologies LP increased its position in Edison International (NYSE:EIX) by 19.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,404 shares of the utilities provider’s stock after acquiring an additional 5,105 shares during the quarter. Quantbot Technologies LP’s holdings in Edison International were worth $2,735,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of EIX. Highline Wealth Partners LLC purchased a new stake in Edison International in the 3rd quarter worth $26,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Edison International in the second quarter worth about $27,000. Eastern Bank bought a new position in Edison International in the 3rd quarter worth approximately $27,000. Country Trust Bank bought a new position in shares of Edison International during the second quarter worth $29,000. Finally, Farmers & Merchants Investments Inc. grew its stake in Edison International by 53.8% during the second quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 140 shares in the last quarter. 88.95% of the stock is currently owned by institutional investors.

Edison International Price Performance

Edison International stock opened at $88.39 on Thursday. The firm has a 50-day moving average of $84.76 and a two-hundred day moving average of $80.41. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. Edison International has a 1 year low of $63.15 and a 1 year high of $88.77. The stock has a market cap of $34.22 billion, a price-to-earnings ratio of 25.92, a price-to-earnings-growth ratio of 2.09 and a beta of 0.92.

Edison International (NYSE:EIX) last posted its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.13. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The company had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.01 billion. During the same quarter in the prior year, the business earned $1.38 earnings per share. Edison International’s revenue was up 10.6% on a year-over-year basis. On average, research analysts forecast that Edison International will post 4.95 earnings per share for the current year.

Edison International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 7th were paid a $0.78 dividend. The ex-dividend date was Monday, October 7th. This represents a $3.12 annualized dividend and a yield of 3.53%. Edison International’s dividend payout ratio (DPR) is presently 91.50%.

Insiders Place Their Bets

In other news, VP Adam S. Umanoff sold 25,619 shares of Edison International stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $83.05, for a total value of $2,127,657.95. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

EIX has been the topic of a number of research reports. Morgan Stanley reduced their price objective on Edison International from $74.00 to $72.00 and set an “underweight” rating on the stock in a research note on Friday, November 22nd. 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. Jefferies Financial Group assumed coverage on Edison International in a research note on Thursday, November 7th. They issued a “buy” rating and a $93.00 price objective for the company. Evercore ISI boosted their target price on Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, August 14th. Finally, Wells Fargo & Company raised their price target on Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. One 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’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $88.75.

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.