Janus Henderson Group PLC Sells 663 Shares of Edison International (NYSE:EIX)

Janus Henderson Group PLC reduced its stake in Edison International (NYSE:EIX) by 0.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 98,302 shares of the utilities provider’s stock after selling 663 shares during the period. Janus Henderson Group PLC’s holdings in Edison International were worth $8,561,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. FMR LLC lifted its position in shares of Edison International by 8.7% during the 3rd quarter. FMR LLC now owns 21,800,874 shares of the utilities provider’s stock valued at $1,898,638,000 after acquiring an additional 1,741,835 shares during the period. abrdn plc lifted its position in Edison International by 166.4% during the third quarter. abrdn plc now owns 1,418,526 shares of the utilities provider’s stock worth $123,149,000 after purchasing an additional 885,955 shares during the period. Robeco Institutional Asset Management B.V. increased its holdings in Edison International by 117.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 781,736 shares of the utilities provider’s stock valued at $68,081,000 after buying an additional 422,752 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of Edison International by 595.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 318,672 shares of the utilities provider’s stock valued at $22,884,000 after buying an additional 272,876 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of Edison International during the 2nd quarter worth approximately $18,484,000. Institutional investors and hedge funds own 88.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on EIX shares. Bank of America initiated coverage on shares of Edison International in a research report on Thursday, September 12th. They set a “buy” rating and a $95.00 price objective for the company. Argus raised their price objective on Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Barclays boosted their target price on Edison International from $89.00 to $91.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Jefferies Financial Group began coverage on shares of Edison International in a report on Thursday, November 7th. They set a “buy” rating and a $93.00 price target on the stock. Finally, Wells Fargo & Company increased their price objective on shares of Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $88.75.

Edison International Stock Performance

NYSE EIX opened at $83.95 on Monday. The company has a market capitalization of $32.50 billion, a price-to-earnings ratio of 24.62, a PEG ratio of 2.02 and a beta of 0.92. Edison International has a twelve month low of $63.15 and a twelve month high of $88.77. The stock has a fifty day simple moving average of $84.75 and a 200 day simple moving average of $80.93. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96.

Edison International (NYSE:EIX) last issued its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.13. The company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.01 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The firm’s revenue was up 10.6% compared to the same quarter last year. During the same period last year, the company earned $1.38 earnings per share. Sell-side analysts expect that Edison International will post 4.95 EPS for the current year.

Edison International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 7th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.72%. The ex-dividend date was Monday, October 7th. Edison International’s dividend payout ratio (DPR) is presently 91.50%.

Insider Activity at Edison International

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of Edison International stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $83.05, for a total value of $2,127,657.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.03% of the stock is owned by company 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.