Mn Services Vermogensbeheer B.V. Lowers Holdings in Edison International (NYSE:EIX)

Mn Services Vermogensbeheer B.V. decreased its stake in shares of Edison International (NYSE:EIX) by 7.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 138,800 shares of the utilities provider’s stock after selling 10,700 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Edison International were worth $8,178,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its stake in Edison International by 3.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,416,770 shares of the utilities provider’s stock valued at $192,955,000 after buying an additional 76,654 shares during the last quarter. Tounjian Advisory Partners LLC purchased a new position in shares of Edison International in the first quarter worth $1,151,000. GAMMA Investing LLC raised its stake in shares of Edison International by 4,157.4% in the first quarter. GAMMA Investing LLC now owns 145,179 shares of the utilities provider’s stock worth $8,554,000 after purchasing an additional 141,769 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Edison International in the fourth quarter worth $6,859,000. Finally, RWC Asset Management LLP raised its stake in shares of Edison International by 207.1% in the fourth quarter. RWC Asset Management LLP now owns 398,812 shares of the utilities provider’s stock worth $31,841,000 after purchasing an additional 268,951 shares during the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Stock Performance

NYSE:EIX opened at $48.29 on Tuesday. The stock has a 50-day simple moving average of $55.52 and a two-hundred day simple moving average of $60.61. Edison International has a 52-week low of $47.86 and a 52-week high of $88.77. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. The firm has a market capitalization of $18.58 billion, a PE ratio of 14.16, a P/E/G ratio of 1.07 and a beta of 0.78.

Edison International (NYSE:EIX) last released its quarterly earnings results on Tuesday, April 29th. The utilities provider reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.16. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The business had revenue of $3.81 billion during the quarter, compared to analyst estimates of $4.29 billion. During the same quarter in the previous year, the company posted $1.13 earnings per share. Edison International’s revenue for the quarter was down 6.5% on a year-over-year basis. Analysts forecast that Edison International will post 4.95 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Wolfe Research cut Edison International from an “outperform” rating to a “peer perform” rating in a research note on Monday, June 9th. UBS Group upgraded Edison International from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $69.00 to $65.00 in a research note on Tuesday, February 18th. Barclays boosted their price target on Edison International from $64.00 to $67.00 and gave the stock an “overweight” rating in a research note on Thursday, May 1st. Mizuho decreased their price target on Edison International from $75.00 to $66.00 and set an “outperform” rating for the company in a research note on Monday, March 3rd. Finally, The Goldman Sachs Group decreased their price target on Edison International from $88.00 to $68.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Edison International presently has an average rating of “Moderate Buy” and a consensus target price of $76.89.

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.