Howard Capital Management Inc. Buys 701 Shares of Edison International (NYSE:EIX)

Howard Capital Management Inc. boosted its stake in Edison International (NYSE:EIX) by 11.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,761 shares of the utilities provider’s stock after purchasing an additional 701 shares during the period. Howard Capital Management Inc.’s holdings in Edison International were worth $398,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Geode Capital Management LLC grew its position in Edison International by 3.8% in the 4th quarter. Geode Capital Management LLC now owns 9,983,519 shares of the utilities provider’s stock worth $795,123,000 after purchasing an additional 362,999 shares during the period. Northern Trust Corp grew its position in shares of Edison International by 53.9% during the 4th quarter. Northern Trust Corp now owns 5,757,034 shares of the utilities provider’s stock valued at $459,642,000 after acquiring an additional 2,016,017 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Edison International by 7.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,163,408 shares of the utilities provider’s stock valued at $412,246,000 after acquiring an additional 371,043 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of Edison International by 1.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,133,574 shares of the utilities provider’s stock valued at $409,865,000 after acquiring an additional 50,451 shares during the period. Finally, Invesco Ltd. grew its position in shares of Edison International by 38.2% during the 4th quarter. Invesco Ltd. now owns 4,816,638 shares of the utilities provider’s stock valued at $384,560,000 after acquiring an additional 1,331,941 shares during the period. Institutional investors own 88.95% of the company’s stock.

Edison International Stock Up 1.0%

Shares of NYSE EIX opened at $52.21 on Friday. The firm’s 50-day moving average price is $51.99 and its 200-day moving average price is $54.57. The company has a current ratio of 0.96, a quick ratio of 0.89 and a debt-to-equity ratio of 2.06. The stock has a market capitalization of $20.09 billion, a price-to-earnings ratio of 7.41, a P/E/G ratio of 1.22 and a beta of 0.75. Edison International has a 12-month low of $47.73 and a 12-month high of $88.77.

Edison International (NYSE:EIX) last announced its earnings results on Thursday, July 31st. The utilities provider reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.09. The firm had revenue of $4.54 billion for the quarter, compared to analysts’ expectations of $4.52 billion. Edison International had a net margin of 16.84% and a return on equity of 13.21%. The business’s revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.23 EPS. On average, equities research analysts anticipate that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, July 7th were given a dividend of $0.8275 per share. This represents a $3.31 annualized dividend and a dividend yield of 6.3%. The ex-dividend date was Monday, July 7th. Edison International’s dividend payout ratio is currently 46.95%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. cut their price objective on shares of Edison International from $75.00 to $71.00 and set a “neutral” rating for the company in a research report on Monday, May 19th. Morgan Stanley lowered their target price on shares of Edison International from $52.00 to $51.00 and set an “underweight” rating on the stock in a research note on Wednesday, June 18th. Wolfe Research cut shares of Edison International from an “outperform” rating to a “peer perform” rating in a research note on Monday, June 9th. Evercore ISI restated an “outperform” rating on shares of Edison International in a research note on Thursday, May 15th. Finally, Barclays lifted their target price on shares of Edison International from $64.00 to $67.00 and gave the company an “overweight” rating in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Edison International presently has a consensus rating of “Moderate Buy” and an average target price of $76.35.

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.