Covestor Ltd Has $94,000 Stake in Edison International (NYSE:EIX)

Covestor Ltd reduced its stake in Edison International (NYSE:EIX) by 39.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,083 shares of the utilities provider’s stock after selling 709 shares during the period. Covestor Ltd’s holdings in Edison International were worth $94,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Lake Street Advisors Group LLC boosted its position in Edison International by 4.3% in the third quarter. Lake Street Advisors Group LLC now owns 3,015 shares of the utilities provider’s stock valued at $263,000 after buying an additional 124 shares in the last quarter. Baker Tilly Wealth Management LLC grew its position in Edison International by 2.8% during the 3rd quarter. Baker Tilly Wealth Management LLC now owns 4,779 shares of the utilities provider’s stock worth $416,000 after acquiring an additional 129 shares during the last quarter. SFE Investment Counsel increased its holdings in Edison International by 0.3% in the 3rd quarter. SFE Investment Counsel now owns 42,730 shares of the utilities provider’s stock worth $3,721,000 after purchasing an additional 130 shares in the last quarter. Equitable Trust Co. raised its position in Edison International by 0.9% in the second quarter. Equitable Trust Co. now owns 15,424 shares of the utilities provider’s stock valued at $1,108,000 after purchasing an additional 132 shares during the last quarter. Finally, TIAA Trust National Association boosted its stake in shares of Edison International by 2.0% during the second quarter. TIAA Trust National Association now owns 6,723 shares of the utilities provider’s stock valued at $483,000 after purchasing an additional 134 shares in the last quarter. 88.95% of the stock is owned by institutional investors.

Insiders Place Their Bets

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

Edison International Trading Down 1.0 %

NYSE:EIX opened at $82.76 on Wednesday. Edison International has a 12 month low of $62.21 and a 12 month high of $88.77. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. The stock has a market capitalization of $32.04 billion, a price-to-earnings ratio of 24.27, a PEG ratio of 1.93 and a beta of 0.92. The firm has a fifty day simple moving average of $84.92 and a two-hundred day simple moving average of $79.39.

Edison International (NYSE:EIX) last issued its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.13. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The business had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.01 billion. During the same period in the previous year, the company posted $1.38 EPS. The firm’s revenue was up 10.6% compared to the same quarter last year. Analysts expect that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 7th were paid a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $3.12 dividend on an annualized basis and a yield of 3.77%. Edison International’s dividend payout ratio (DPR) is presently 91.50%.

Analyst Ratings Changes

Several research firms have recently issued reports on EIX. Wells Fargo & Company upped their price objective on Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Jefferies Financial Group initiated coverage on shares of Edison International in a report on Thursday, November 7th. They set a “buy” rating and a $93.00 price target on the stock. Royal Bank of Canada increased their price objective on Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, October 4th. UBS Group lifted their target price on Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. Finally, Barclays increased their price target on Edison International from $89.00 to $91.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. 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’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $88.75.

Edison International Profile

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.