UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Cuts Holdings in Edison International (NYSE:EIX)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its stake in Edison International (NYSE:EIX) by 0.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,792,365 shares of the utilities provider’s stock after selling 37,644 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Edison International were worth $417,367,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Public Sector Pension Investment Board increased its holdings in Edison International by 3.4% in the 3rd quarter. Public Sector Pension Investment Board now owns 67,415 shares of the utilities provider’s stock valued at $5,871,000 after purchasing an additional 2,200 shares in the last quarter. First Commonwealth Financial Corp PA increased its holdings in Edison International by 6.4% in the 3rd quarter. First Commonwealth Financial Corp PA now owns 10,084 shares of the utilities provider’s stock valued at $878,000 after purchasing an additional 605 shares in the last quarter. CreativeOne Wealth LLC acquired a new stake in Edison International in the 3rd quarter valued at $394,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Edison International in the 3rd quarter valued at $132,000. Finally, Blueshift Asset Management LLC acquired a new stake in Edison International in the 3rd quarter valued at $655,000. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Edison International Stock Performance

Shares of EIX stock opened at $88.36 on Friday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. Edison International has a one year low of $63.15 and a one year high of $88.77. The company’s 50-day simple moving average is $84.84 and its 200-day simple moving average is $80.46. The stock has a market capitalization of $34.21 billion, a price-to-earnings ratio of 25.91, a PEG ratio of 2.11 and a beta of 0.92.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 EPS 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 for the quarter, compared to analysts’ expectations of $5.01 billion. During the same quarter last year, the company posted $1.38 earnings per share. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. Equities analysts anticipate that Edison International will post 4.94 earnings per share for the current fiscal year.

Edison International Dividend Announcement

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

Insiders Place Their Bets

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the firm’s stock in a transaction dated 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 legal filing with the SEC, which is available at this link. 1.03% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

EIX has been the subject of several recent research reports. Wells Fargo & Company increased their price target on Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Royal Bank of Canada increased their price target on Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Bank of America started coverage on Edison International in a research note on Thursday, September 12th. They set a “buy” rating and a $95.00 target price for the company. UBS Group raised their target price on Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Finally, Jefferies Financial Group started coverage on Edison International in a research note on Thursday, November 7th. They set a “buy” rating and a $93.00 target price for the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $88.75.

Edison International Company 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.