Pzena Investment Management LLC Decreases Stock Holdings in Edison International (NYSE:EIX)

Pzena Investment Management LLC decreased its position in Edison International (NYSE:EIX) by 42.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,374,322 shares of the utilities provider’s stock after selling 3,888,326 shares during the quarter. Edison International makes up 1.5% of Pzena Investment Management LLC’s investment portfolio, making the stock its 26th largest position. Pzena Investment Management LLC owned 1.39% of Edison International worth $429,086,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Assetmark Inc. boosted its stake in Edison International by 32.9% during the third quarter. Assetmark Inc. now owns 634 shares of the utilities provider’s stock worth $55,000 after acquiring an additional 157 shares in the last quarter. Jamison Private Wealth Management Inc. boosted its stake in Edison International by 2.6% during the fourth quarter. Jamison Private Wealth Management Inc. now owns 6,887 shares of the utilities provider’s stock worth $550,000 after acquiring an additional 174 shares in the last quarter. Bleakley Financial Group LLC boosted its stake in Edison International by 2.9% during the fourth quarter. Bleakley Financial Group LLC now owns 6,297 shares of the utilities provider’s stock worth $503,000 after acquiring an additional 176 shares in the last quarter. Old Port Advisors boosted its stake in Edison International by 0.9% during the fourth quarter. Old Port Advisors now owns 19,292 shares of the utilities provider’s stock worth $1,540,000 after acquiring an additional 180 shares in the last quarter. Finally, Addison Advisors LLC boosted its stake in Edison International by 19.3% during the third quarter. Addison Advisors LLC now owns 1,201 shares of the utilities provider’s stock worth $105,000 after acquiring an additional 194 shares in the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Morgan Stanley dropped their target price on shares of Edison International from $71.00 to $48.00 and set an “underweight” rating on the stock in a research note on Friday, February 14th. LADENBURG THALM/SH SH upgraded shares of Edison International from a “sell” rating to a “neutral” rating and set a $56.50 target price on the stock in a research note on Wednesday, January 15th. Wells Fargo & Company dropped their target price on shares of Edison International from $94.00 to $75.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. Barclays dropped their target price on shares of Edison International from $67.00 to $65.00 and set an “overweight” rating on the stock in a research note on Monday, March 3rd. Finally, UBS Group upgraded shares of Edison International from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $69.00 to $65.00 in a research note on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $76.54.

Edison International Stock Up 1.1 %

EIX opened at $57.03 on Tuesday. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. Edison International has a 1-year low of $49.06 and a 1-year high of $88.77. The company has a market capitalization of $21.96 billion, a PE ratio of 16.72, a PEG ratio of 1.07 and a beta of 0.87. The firm’s 50 day simple moving average is $58.46 and its two-hundred day simple moving average is $75.22.

Edison International (NYSE:EIX) last released its quarterly earnings results on Thursday, February 27th. The utilities provider reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.08 by ($0.03). Edison International had a return on equity of 13.17% and a net margin of 8.52%. The business had revenue of $17.60 billion during the quarter, compared to the consensus estimate of $3.92 billion. As a group, equities analysts forecast that Edison International will post 4.95 EPS for the current year.

Edison International Announces Dividend

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

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.