Pzena Investment Management LLC Sells 3,888,326 Shares of Edison International (NYSE:EIX)

Pzena Investment Management LLC trimmed its stake in shares of Edison International (NYSE:EIX) by 42.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,374,322 shares of the utilities provider’s stock after selling 3,888,326 shares during the period. Edison International accounts for 1.5% of Pzena Investment Management LLC’s portfolio, making the stock its 26th largest holding. Pzena Investment Management LLC’s holdings in Edison International were worth $429,086,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the stock. State Street Corp grew its stake in Edison International by 0.7% during the third quarter. State Street Corp now owns 32,549,936 shares of the utilities provider’s stock valued at $2,834,774,000 after acquiring an additional 224,337 shares in the last quarter. FMR LLC grew its stake in Edison International by 8.7% during the third quarter. FMR LLC now owns 21,800,874 shares of the utilities provider’s stock valued at $1,898,638,000 after acquiring an additional 1,741,835 shares in the last quarter. Geode Capital Management LLC grew its stake in Edison International by 2.2% during the third quarter. Geode Capital Management LLC now owns 9,620,520 shares of the utilities provider’s stock valued at $835,142,000 after acquiring an additional 210,461 shares in the last quarter. Amundi grew its stake in Edison International by 0.3% during the fourth quarter. Amundi now owns 3,118,404 shares of the utilities provider’s stock valued at $248,973,000 after acquiring an additional 10,396 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Edison International by 1.3% during the fourth quarter. Bank of New York Mellon Corp now owns 2,620,122 shares of the utilities provider’s stock valued at $209,191,000 after acquiring an additional 32,391 shares in the last quarter. 88.95% of the stock is owned by hedge funds and other institutional investors.

Edison International Trading Up 1.1 %

Shares of EIX opened at $57.03 on Tuesday. Edison International has a 1-year low of $49.06 and a 1-year high of $88.77. The company has a 50-day moving average of $58.46 and a 200 day moving average of $75.22. The firm has a market capitalization of $21.96 billion, a price-to-earnings ratio of 16.72, a PEG ratio of 1.07 and a beta of 0.87. 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 (NYSE:EIX) last announced its quarterly earnings data on Thursday, February 27th. The utilities provider reported $1.05 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.03). Edison International had a net margin of 8.52% and a return on equity of 13.17%. The company had revenue of $17.60 billion for the quarter, compared to the consensus estimate of $3.92 billion. On average, research analysts expect that Edison International will post 4.95 EPS for the current year.

Edison International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, April 7th will be issued a dividend of $0.8275 per share. The ex-dividend date is Monday, April 7th. This represents a $3.31 dividend on an annualized basis and a yield of 5.80%. Edison International’s payout ratio is 100.30%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on EIX. Barclays cut their target price on shares of Edison International from $67.00 to $65.00 and set an “overweight” rating for the company in a research note on Monday, March 3rd. Guggenheim cut shares of Edison International from a “buy” rating to a “neutral” rating in a research note on Thursday, January 23rd. Wells Fargo & Company dropped their price objective on shares of Edison International from $94.00 to $75.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $72.00 price objective on shares of Edison International in a research note on Wednesday, February 12th. Finally, UBS Group raised shares of 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 note on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Edison International currently has a consensus rating of “Moderate Buy” and a consensus target price of $76.54.

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.