Edison International (EIX) Shares Sold by Renaissance Technologies LLC
Renaissance Technologies LLC lessened its position in shares of Edison International (NYSE:EIX) by 11.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,659,995 shares of the utilities provider’s stock after selling 331,005 shares during the quarter. Renaissance Technologies LLC owned 0.82% of Edison International worth $207,985,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of EIX. Waldron LP purchased a new stake in Edison International during the 1st quarter valued at about $211,000. UBS Asset Management Americas Inc. grew its stake in Edison International by 12.2% during the 1st quarter. UBS Asset Management Americas Inc. now owns 1,105,418 shares of the utilities provider’s stock valued at $88,002,000 after purchasing an additional 120,161 shares during the last quarter. South State Corp purchased a new stake in Edison International during the 1st quarter valued at about $215,000. Tiedemann Wealth Management LLC acquired a new position in shares of Edison International in the 1st quarter valued at about $956,000. Finally, 1st Global Advisors Inc. lifted its holdings in shares of Edison International by 1.6% in the 1st quarter. 1st Global Advisors Inc. now owns 12,211 shares of the utilities provider’s stock valued at $972,000 after buying an additional 193 shares during the period. Institutional investors and hedge funds own 81.53% of the company’s stock.
In related news, insider Ronald L. Litzinger sold 224,715 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $80.54, for a total value of $18,098,546.10. Following the completion of the sale, the insider now owns 14,121 shares in the company, valued at $1,137,305.34. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.41% of the stock is owned by company insiders.
Several equities analysts have recently issued reports on the company. BidaskClub raised Edison International from a “sell” rating to a “hold” rating in a report on Monday, June 19th. Citigroup Inc. reissued a “neutral” rating and issued a $84.00 price objective (down previously from $85.00) on shares of Edison International in a report on Monday, July 24th. Jefferies Group LLC reissued a “buy” rating on shares of Edison International in a report on Thursday, August 17th. Morgan Stanley reissued an “equal weight” rating on shares of Edison International in a report on Tuesday, July 11th. Finally, BMO Capital Markets reissued a “buy” rating and issued a $85.00 price objective on shares of Edison International in a report on Thursday, August 17th. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Edison International has an average rating of “Hold” and a consensus price target of $84.15.
Edison International (NYSE EIX) traded down 0.48% during trading on Friday, reaching $78.28. The company had a trading volume of 1,275,912 shares. The stock has a market capitalization of $25.50 billion, a price-to-earnings ratio of 18.51 and a beta of 0.24. The firm has a 50-day moving average of $80.05 and a 200-day moving average of $79.66. Edison International has a 1-year low of $67.44 and a 1-year high of $82.82.
Edison International (NYSE:EIX) last announced its quarterly earnings data on Thursday, July 27th. The utilities provider reported $0.85 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.85. The firm had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.92 billion. Edison International had a net margin of 12.64% and a return on equity of 10.58%. The firm’s revenue was up 6.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.85 earnings per share. On average, analysts anticipate that Edison International will post $4.23 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, September 29th will be given a $0.5425 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $2.17 dividend on an annualized basis and a yield of 2.77%. Edison International’s payout ratio is currently 50.82%.
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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