Thrivent Financial for Lutherans Buys 110,337 Shares of Edison International $EIX

Thrivent Financial for Lutherans lifted its stake in shares of Edison International (NYSE:EIX) by 35.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 418,845 shares of the utilities provider’s stock after purchasing an additional 110,337 shares during the quarter. Thrivent Financial for Lutherans owned 0.11% of Edison International worth $23,154,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in EIX. Howard Capital Management Inc. increased its holdings in shares of Edison International by 14.9% during the third quarter. Howard Capital Management Inc. now owns 9,636 shares of the utilities provider’s stock worth $533,000 after buying an additional 1,251 shares in the last quarter. National Pension Service grew its position in Edison International by 4.3% during the 3rd quarter. National Pension Service now owns 638,317 shares of the utilities provider’s stock worth $35,286,000 after acquiring an additional 26,524 shares during the last quarter. Arizona State Retirement System increased its holdings in Edison International by 1.0% in the 3rd quarter. Arizona State Retirement System now owns 113,629 shares of the utilities provider’s stock worth $6,281,000 after purchasing an additional 1,093 shares in the last quarter. Argent Advisors Inc. increased its holdings in Edison International by 1.6% in the 3rd quarter. Argent Advisors Inc. now owns 19,462 shares of the utilities provider’s stock worth $1,076,000 after purchasing an additional 304 shares in the last quarter. Finally, Foundations Investment Advisors LLC raised its position in Edison International by 38.9% in the third quarter. Foundations Investment Advisors LLC now owns 10,168 shares of the utilities provider’s stock valued at $562,000 after purchasing an additional 2,845 shares during the last quarter. Institutional investors own 88.95% of the company’s stock.

Edison International Stock Up 1.1%

Shares of NYSE:EIX opened at $61.44 on Wednesday. Edison International has a 1 year low of $47.73 and a 1 year high of $63.19. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.82 and a quick ratio of 0.76. The business’s 50-day moving average is $59.89 and its 200-day moving average is $57.03. The company has a market capitalization of $23.64 billion, a price-to-earnings ratio of 8.03, a P/E/G ratio of 0.89 and a beta of 0.82.

Edison International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, January 31st. Stockholders of record on Wednesday, January 7th were given a dividend of $0.8775 per share. This is a positive change from Edison International’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend was Wednesday, January 7th. This represents a $3.51 annualized dividend and a dividend yield of 5.7%. Edison International’s payout ratio is 45.88%.

Analyst Ratings Changes

Several research firms have recently issued reports on EIX. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Edison International in a research note on Monday, December 29th. LADENBURG THALM/SH SH upped their price target on shares of Edison International from $52.50 to $55.00 and gave the company a “neutral” rating in a research report on Thursday, October 30th. Zacks Research cut shares of Edison International from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 15th. Morgan Stanley reaffirmed an “underweight” rating on shares of Edison International in a research report on Wednesday, January 21st. Finally, TD Cowen initiated coverage on Edison International in a research report on Thursday, October 16th. They issued a “buy” rating and a $71.00 price target on the stock. Five analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Edison International has a consensus rating of “Hold” and an average price target of $63.30.

About Edison International

Edison International is a publicly traded utility holding company based in Rosemead, California, whose principal subsidiary is Southern California Edison (SCE). As an electric utility holding company, Edison International oversees the delivery of electricity through SCE’s integrated network of generation procurement, transmission and distribution infrastructure, serving millions of customers across central, coastal and southern California. The company’s operations focus on reliable energy delivery, customer service, regulatory compliance and long-term infrastructure planning for a complex and high-demand service territory.

The company’s activities include procuring and managing a diverse resource mix, maintaining and upgrading transmission and distribution systems, and implementing grid modernization projects.