Landmark Bank raised its position in Edison International (NYSE:EIX) by 7.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,166 shares of the utilities provider’s stock after purchasing an additional 337 shares during the quarter. Landmark Bank’s holdings in Edison International were worth $349,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Geode Capital Management LLC grew its position in shares of Edison International by 8.1% during the fourth quarter. Geode Capital Management LLC now owns 4,262,828 shares of the utilities provider’s stock valued at $241,582,000 after purchasing an additional 320,556 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new position in shares of Edison International in the 1st quarter valued at about $276,000. Retirement Systems of Alabama lifted its holdings in shares of Edison International by 1.0% in the 1st quarter. Retirement Systems of Alabama now owns 151,711 shares of the utilities provider’s stock valued at $9,394,000 after acquiring an additional 1,459 shares during the last quarter. Quantitative Systematic Strategies LLC bought a new position in shares of Edison International in the 1st quarter valued at about $366,000. Finally, Pennsylvania Trust Co bought a new position in shares of Edison International in the 1st quarter valued at about $3,066,000. Institutional investors own 75.46% of the company’s stock.
Shares of NYSE EIX traded up $0.40 during midday trading on Friday, reaching $72.47. 82,149 shares of the stock were exchanged, compared to its average volume of 4,005,907. The company has a market capitalization of $25.91 billion, a P/E ratio of 17.46, a P/E/G ratio of 2.87 and a beta of 0.13. Edison International has a 52-week low of $45.50 and a 52-week high of $75.39. The company has a current ratio of 0.69, a quick ratio of 0.64 and a debt-to-equity ratio of 1.23. The stock has a 50 day moving average price of $70.63 and a 200-day moving average price of $63.98.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Monday, July 8th were paid a dividend of $0.6125 per share. The ex-dividend date of this dividend was Friday, July 5th. This represents a $2.45 annualized dividend and a yield of 3.38%. Edison International’s payout ratio is 59.04%.
EIX has been the subject of a number of analyst reports. Wolfe Research raised shares of Edison International from a “peer perform” rating to an “outperform” rating in a report on Monday, May 6th. Barclays reissued a “hold” rating and issued a $72.00 price objective on shares of Edison International in a research note on Sunday, July 28th. UBS Group raised shares of Edison International from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $67.00 to $72.00 in a research note on Tuesday, June 4th. SunTrust Banks raised their price objective on shares of Edison International from $80.00 to $81.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Mizuho raised their target price on shares of Edison International from $75.00 to $76.00 and gave the stock a “buy” rating in a research report on Tuesday, June 25th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $71.00.
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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