Edison International (NYSE:EIX) Stake Lifted by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. grew its holdings in shares of Edison International (NYSE:EIX) by 3.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 19,229 shares of the utilities provider’s stock after purchasing an additional 673 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Edison International were worth $1,675,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in EIX. Highline Wealth Partners LLC bought a new position in Edison International during the 3rd quarter valued at $26,000. Eastern Bank purchased a new position in shares of Edison International during the third quarter valued at $27,000. Ashton Thomas Private Wealth LLC purchased a new position in Edison International during the second quarter valued at approximately $27,000. Concord Wealth Partners grew its holdings in shares of Edison International by 277.0% during the 3rd quarter. Concord Wealth Partners now owns 377 shares of the utilities provider’s stock valued at $33,000 after acquiring an additional 277 shares in the last quarter. Finally, Country Trust Bank acquired a new stake in Edison International in the second quarter valued at approximately $29,000. Institutional investors and hedge funds own 88.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on EIX shares. Evercore ISI upped their price target on Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 14th. Bank of America began coverage on Edison International in a research note on Thursday, September 12th. They set a “buy” rating and a $95.00 price target on the stock. Wells Fargo & Company raised their price objective on shares of Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Argus increased their price target on shares of Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Finally, Guggenheim lifted their price objective on Edison International from $80.00 to $83.00 and gave the company a “buy” rating in a report on Friday, July 26th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $88.75.

Insider Transactions at Edison International

In related news, VP Adam S. Umanoff sold 25,619 shares of the business’s stock in a transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO J Andrew Murphy sold 23,896 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $85.45, for a total transaction of $2,041,913.20. Following the completion of the sale, the chief executive officer now owns 19,850 shares of the company’s stock, valued at approximately $1,696,182.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Adam S. Umanoff sold 25,619 shares of the stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $83.05, for a total transaction of $2,127,657.95. The disclosure for this sale can be found here. In the last 90 days, insiders sold 50,878 shares of company stock worth $4,285,422. 1.03% of the stock is owned by insiders.

Edison International Stock Down 0.7 %

Shares of EIX stock opened at $82.18 on Thursday. Edison International has a 52-week low of $63.15 and a 52-week high of $88.77. The stock has a market cap of $31.82 billion, a price-to-earnings ratio of 24.10, a PEG ratio of 1.98 and a beta of 0.92. The firm’s 50-day moving average is $84.83 and its 200-day moving average is $79.48. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88.

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

Edison International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 7th were given a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.80%. The ex-dividend date of this dividend was Monday, October 7th. Edison International’s payout ratio is presently 91.50%.

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.