LSV Asset Management Has $74.23 Million Stake in Edison International (EIX)

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LSV Asset Management cut its stake in Edison International (NYSE:EIX) by 0.2% in the 2nd quarter, Holdings Channel reports. The firm owned 1,173,300 shares of the utilities provider’s stock after selling 2,700 shares during the quarter. LSV Asset Management’s holdings in Edison International were worth $74,234,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of EIX. Boston Partners raised its stake in shares of Edison International by 361.8% in the first quarter. Boston Partners now owns 4,929,511 shares of the utilities provider’s stock worth $313,813,000 after purchasing an additional 3,862,042 shares during the last quarter. Pzena Investment Management LLC raised its stake in shares of Edison International by 206.3% in the first quarter. Pzena Investment Management LLC now owns 5,475,064 shares of the utilities provider’s stock worth $348,543,000 after purchasing an additional 3,687,476 shares during the last quarter. BlackRock Inc. increased its position in shares of Edison International by 3.5% during the first quarter. BlackRock Inc. now owns 27,694,117 shares of the utilities provider’s stock valued at $1,763,006,000 after acquiring an additional 947,981 shares during the last quarter. Thrivent Financial for Lutherans increased its position in shares of Edison International by 4,900.5% during the first quarter. Thrivent Financial for Lutherans now owns 705,316 shares of the utilities provider’s stock valued at $44,900,000 after acquiring an additional 691,211 shares during the last quarter. Finally, Natixis increased its position in shares of Edison International by 241.3% during the first quarter. Natixis now owns 905,286 shares of the utilities provider’s stock valued at $57,631,000 after acquiring an additional 640,031 shares during the last quarter. 82.21% of the stock is owned by hedge funds and other institutional investors.

NYSE:EIX opened at $69.88 on Monday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.66 and a quick ratio of 0.61. Edison International has a 1 year low of $57.63 and a 1 year high of $83.38. The firm has a market capitalization of $21.71 billion, a price-to-earnings ratio of 15.53, a PEG ratio of 2.80 and a beta of 0.17.

Edison International (NYSE:EIX) last released its earnings results on Thursday, July 26th. The utilities provider reported $0.84 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.01. Edison International had a return on equity of 10.27% and a net margin of 4.34%. The business had revenue of $2.82 billion during the quarter, compared to the consensus estimate of $2.97 billion. During the same period last year, the business posted $0.85 earnings per share. The business’s revenue for the quarter was down 5.1% on a year-over-year basis. equities research analysts predict that Edison International will post 4.07 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 31st. Shareholders of record on Monday, July 2nd were given a $0.605 dividend. This represents a $2.42 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date of this dividend was Friday, June 29th. Edison International’s dividend payout ratio is currently 53.78%.

EIX has been the subject of a number of research analyst reports. ValuEngine raised Edison International from a “strong sell” rating to a “sell” rating in a research report on Thursday, June 28th. Bank of America increased their price target on Edison International from $75.00 to $77.00 and gave the company a “buy” rating in a research report on Wednesday, July 25th. Zacks Investment Research raised Edison International from a “sell” rating to a “hold” rating in a research report on Monday, July 2nd. Argus increased their price target on Edison International to $75.00 and gave the company a “buy” rating in a research report on Monday, July 9th. Finally, JPMorgan Chase & Co. increased their price target on Edison International from $65.00 to $68.00 and gave the company a “neutral” rating in a research report on Friday, June 1st. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $73.29.

About Edison International

Edison International, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in the United States. It generates electricity through hydroelectric, diesel/liquid petroleum gas, natural gas, nuclear, and photovoltaic sources. The company supplies electricity primarily to residential, commercial, industrial, agricultural, and other customers, as well as public authorities through transmission and distribution networks.

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Institutional Ownership by Quarter for Edison International (NYSE:EIX)

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