Mitsubishi UFJ Asset Management Co. Ltd. Raises Holdings in Edison International (NYSE:EIX)

Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Edison International (NYSE:EIX) by 14.4% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 445,408 shares of the utilities provider’s stock after buying an additional 56,051 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Edison International were worth $31,504,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Kentucky Retirement Systems Insurance Trust Fund raised its position in shares of Edison International by 4.2% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 13,655 shares of the utilities provider’s stock worth $976,000 after buying an additional 551 shares during the period. Jump Financial LLC purchased a new position in shares of Edison International in the 4th quarter worth $1,215,000. Avantax Advisory Services Inc. raised its position in Edison International by 73.2% in the fourth quarter. Avantax Advisory Services Inc. now owns 21,114 shares of the utilities provider’s stock valued at $1,509,000 after purchasing an additional 8,922 shares during the period. Principal Securities Inc. acquired a new position in shares of Edison International during the fourth quarter worth about $1,233,000. Finally, Norges Bank acquired a new position in shares of Edison International during the fourth quarter worth about $210,327,000. 88.95% of the stock is owned by hedge funds and other institutional investors.

Edison International Stock Down 0.3 %

Shares of NYSE EIX traded down $0.26 during midday trading on Thursday, reaching $75.09. 2,085,997 shares of the company’s stock were exchanged, compared to its average volume of 2,030,119. Edison International has a 52-week low of $58.82 and a 52-week high of $77.04. The stock has a market capitalization of $28.89 billion, a PE ratio of 33.04 and a beta of 0.91. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.93 and a current ratio of 1.00. The business’s fifty day moving average price is $73.72 and its two-hundred day moving average price is $70.69.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.01. The firm had revenue of $4.08 billion during the quarter, compared to analyst estimates of $4.16 billion. Edison International had a return on equity of 12.48% and a net margin of 6.14%. Edison International’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.09 earnings per share. Analysts forecast that Edison International will post 4.92 EPS for the current year.

Edison International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Monday, July 8th will be issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 4.16%. The ex-dividend date is Monday, July 8th. Edison International’s dividend payout ratio is currently 136.84%.

Wall Street Analyst Weigh In

EIX has been the topic of a number of recent research reports. Argus boosted their price objective on Edison International from $78.00 to $82.00 and gave the stock a “buy” rating in a research note on Wednesday, June 12th. Wells Fargo & Company upgraded Edison International from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $72.00 to $86.00 in a research note on Tuesday, May 14th. Morgan Stanley reduced their price objective on Edison International from $64.00 to $61.00 and set an “underweight” rating on the stock in a research note on Monday, June 24th. Barclays boosted their price objective on Edison International from $72.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 2nd. Finally, The Goldman Sachs Group initiated coverage on Edison International in a research note on Wednesday, April 10th. They set a “neutral” rating and a $78.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Edison International currently has an average rating of “Hold” and an average target price of $77.40.

Insider Activity at Edison International

In other news, CEO J Andrew Murphy sold 9,794 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $75.07, for a total transaction of $735,235.58. Following the completion of the transaction, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at $1,475,876.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO J Andrew Murphy sold 9,794 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $75.07, for a total transaction of $735,235.58. Following the completion of the transaction, the chief executive officer now directly owns 19,660 shares in the company, valued at $1,475,876.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Caroline Choi sold 10,004 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $75.77, for a total value of $758,003.08. Following the transaction, the senior vice president now owns 26,918 shares of the company’s stock, valued at $2,039,576.86. The disclosure for this sale can be found here. Insiders sold a total of 77,897 shares of company stock valued at $5,851,245 over the last three months. 1.03% of the stock is owned by insiders.

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.