Americafirst Capital Management LLC increased its stake in Edison International (NYSE:EIX) by 190.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,357 shares of the utilities provider’s stock after acquiring an additional 10,069 shares during the quarter. Edison International accounts for approximately 1.6% of Americafirst Capital Management LLC’s portfolio, making the stock its 5th largest position. Americafirst Capital Management LLC’s holdings in Edison International were worth $1,185,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in the company. IFM Investors Pty Ltd bought a new stake in Edison International during the 3rd quarter valued at $714,000. Neuberger Berman Group LLC increased its stake in Edison International by 5.3% during the 3rd quarter. Neuberger Berman Group LLC now owns 292,811 shares of the utilities provider’s stock valued at $22,596,000 after purchasing an additional 14,740 shares in the last quarter. California Public Employees Retirement System increased its stake in Edison International by 5.9% during the 3rd quarter. California Public Employees Retirement System now owns 933,358 shares of the utilities provider’s stock valued at $72,027,000 after purchasing an additional 51,716 shares in the last quarter. Highbridge Capital Management LLC bought a new stake in Edison International during the 3rd quarter valued at $2,395,000. Finally, Capital International Investors bought a new stake in Edison International during the 3rd quarter valued at $95,783,000. Institutional investors own 81.36% of the company’s stock.
Edison International (NYSE:EIX) traded up $1.22 on Thursday, reaching $69.80. 4,615,700 shares of the company’s stock were exchanged, compared to its average volume of 1,875,065. The company has a quick ratio of 0.47, a current ratio of 0.51 and a debt-to-equity ratio of 0.80. The stock has a market cap of $22,305.03, a P/E ratio of 15.60, a price-to-earnings-growth ratio of 2.48 and a beta of 0.23. Edison International has a 1 year low of $67.28 and a 1 year high of $83.38.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Friday, December 29th will be issued a dividend of $0.605 per share. This represents a $2.42 dividend on an annualized basis and a yield of 3.47%. This is an increase from Edison International’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Thursday, December 28th. Edison International’s payout ratio is currently 48.98%.
A number of analysts have commented on EIX shares. ValuEngine upgraded shares of Edison International from a “hold” rating to a “buy” rating in a research note on Wednesday, November 15th. SunTrust Banks restated a “buy” rating and set a $89.00 price target on shares of Edison International in a research note on Monday, October 30th. Bank of America restated a “buy” rating and set a $86.00 price target on shares of Edison International in a research note on Tuesday, October 24th. BMO Capital Markets restated a “buy” rating and set a $85.00 price target on shares of Edison International in a research note on Thursday, August 17th. Finally, Jefferies Group restated a “buy” rating on shares of Edison International in a research note on Thursday, August 17th. Eleven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $83.77.
In other Edison International news, insider Ronald L. Litzinger sold 224,718 shares of Edison International stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $82.00, for a total transaction of $18,426,876.00. Following the transaction, the insider now directly owns 14,121 shares of the company’s stock, valued at approximately $1,157,922. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.41% of the stock is owned by insiders.
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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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