Amalgamated Bank Sells 7,075 Shares of Edison International (NYSE:EIX)

Amalgamated Bank cut its stake in Edison International (NYSE:EIX) by 6.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 95,829 shares of the utilities provider’s stock after selling 7,075 shares during the period. Amalgamated Bank’s holdings in Edison International were worth $6,851,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of EIX. First Trust Direct Indexing L.P. raised its position in Edison International by 8.5% in the 4th quarter. First Trust Direct Indexing L.P. now owns 7,164 shares of the utilities provider’s stock worth $512,000 after purchasing an additional 560 shares during the last quarter. New York Life Investment Management LLC raised its position in shares of Edison International by 0.4% during the fourth quarter. New York Life Investment Management LLC now owns 61,958 shares of the utilities provider’s stock worth $4,429,000 after acquiring an additional 225 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Edison International by 27.4% during the fourth quarter. Victory Capital Management Inc. now owns 600,168 shares of the utilities provider’s stock valued at $42,906,000 after acquiring an additional 129,101 shares during the period. Gibraltar Capital Management Inc. boosted its holdings in Edison International by 1.5% in the fourth quarter. Gibraltar Capital Management Inc. now owns 11,599 shares of the utilities provider’s stock valued at $829,000 after acquiring an additional 174 shares during the last quarter. Finally, Mission Wealth Management LP increased its position in Edison International by 37.4% in the fourth quarter. Mission Wealth Management LP now owns 8,492 shares of the utilities provider’s stock worth $607,000 after purchasing an additional 2,310 shares during the period. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. StockNews.com raised shares of Edison International from a “sell” rating to a “hold” rating in a research note on Saturday, February 24th. The Goldman Sachs Group initiated coverage on shares of Edison International in a research note on Wednesday, April 10th. They issued a “neutral” rating and a $78.00 price objective on the stock. Royal Bank of Canada dropped their target price on shares of Edison International from $81.00 to $80.00 and set an “outperform” rating for the company in a research report on Thursday, March 7th. Mizuho reduced their price target on Edison International from $76.00 to $75.00 and set a “buy” rating on the stock in a research report on Thursday, January 25th. Finally, Guggenheim upgraded Edison International from a “neutral” rating to a “buy” rating and upped their price objective for the company from $66.00 to $84.00 in a report on Monday, January 22nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $72.78.

Edison International Stock Up 0.5 %

NYSE:EIX opened at $72.34 on Monday. Edison International has a 1 year low of $58.82 and a 1 year high of $74.40. The stock has a 50-day moving average price of $69.41 and a two-hundred day moving average price of $67.96. The stock has a market cap of $27.83 billion, a price-to-earnings ratio of 31.73 and a beta of 0.95. The company has a current ratio of 1.00, a quick ratio of 0.93 and a debt-to-equity ratio of 2.04.

Edison International (NYSE:EIX) last released 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. Edison International had a return on equity of 12.48% and a net margin of 6.14%. The business had revenue of $4.08 billion for the quarter, compared to analysts’ expectations of $4.16 billion. During the same quarter in the previous year, the business posted $1.09 EPS. Edison International’s revenue for the quarter was up 2.8% on a year-over-year basis. As a group, equities analysts expect that Edison International will post 4.92 earnings per share for the current year.

Edison International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 4.31%. The ex-dividend date was Wednesday, March 27th. Edison International’s dividend payout ratio is 136.84%.

About Edison International

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.