Dynamic Advisor Solutions LLC increased its holdings in shares of Edison International (NYSE:EIX – Free Report) by 2.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,697 shares of the utilities provider’s stock after buying an additional 159 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in Edison International were worth $670,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently added to or reduced their stakes in the business. Diversified Trust Co purchased a new position in Edison International during the third quarter worth about $528,000. GAMMA Investing LLC raised its holdings in shares of Edison International by 21.7% in the 3rd quarter. GAMMA Investing LLC now owns 2,607 shares of the utilities provider’s stock worth $227,000 after purchasing an additional 464 shares during the period. Czech National Bank raised its holdings in shares of Edison International by 7.3% in the 3rd quarter. Czech National Bank now owns 78,668 shares of the utilities provider’s stock worth $6,851,000 after purchasing an additional 5,350 shares during the period. Handelsbanken Fonder AB purchased a new position in shares of Edison International in the 3rd quarter worth about $2,137,000. Finally, Park Avenue Securities LLC purchased a new position in shares of Edison International in the 3rd quarter worth about $236,000. 88.95% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research firms have recently commented on EIX. Morgan Stanley raised their price objective on Edison International from $68.00 to $72.00 and gave the stock an “underweight” rating in a report on Wednesday, September 25th. Evercore ISI raised their price objective on Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th. Argus raised their price objective on Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Barclays raised their target price on Edison International from $80.00 to $91.00 and gave the company an “equal weight” rating in a report on Wednesday, September 4th. Finally, Bank of America initiated coverage on Edison International in a report on Thursday, September 12th. They set a “buy” rating and a $95.00 target price on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Edison International presently has an average rating of “Hold” and a consensus target price of $86.67.
Insider Buying and Selling at Edison International
In other news, CEO J Andrew Murphy sold 1,362 shares of Edison International stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $85.00, for a total value of $115,770.00. Following the completion of the transaction, the chief executive officer now owns 19,850 shares in the company, valued at approximately $1,687,250. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO J Andrew Murphy sold 1,362 shares of Edison International stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $85.00, for a total value of $115,770.00. Following the completion of the transaction, the chief executive officer now owns 19,850 shares in the company, valued at approximately $1,687,250. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Natalie K. Schilling sold 2,341 shares of Edison International stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $80.00, for a total value of $187,280.00. Following the completion of the transaction, the vice president now owns 6,338 shares of the company’s stock, valued at approximately $507,040. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 89,099 shares of company stock worth $7,223,342 in the last 90 days. 1.03% of the stock is owned by corporate insiders.
Edison International Price Performance
Shares of NYSE EIX opened at $83.61 on Friday. Edison International has a fifty-two week low of $61.64 and a fifty-two week high of $88.77. The business has a 50 day moving average price of $84.91 and a two-hundred day moving average price of $77.10. The company has a quick ratio of 0.96, a current ratio of 1.03 and a debt-to-equity ratio of 2.04. The firm has a market cap of $32.17 billion, a PE ratio of 36.67, a price-to-earnings-growth ratio of 1.95 and a beta of 0.91.
Edison International (NYSE:EIX – Get Free Report) last issued its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.18. Edison International had a return on equity of 13.01% and a net margin of 6.60%. The firm had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.12 billion. During the same quarter last year, the firm earned $1.01 EPS. Edison International’s quarterly revenue was up 9.4% on a year-over-year basis. Sell-side analysts expect that Edison International will post 4.97 earnings per share for the current fiscal year.
Edison International Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, October 7th will be paid a dividend of $0.78 per share. The ex-dividend date is Monday, October 7th. This represents a $3.12 dividend on an annualized basis and a yield of 3.73%. Edison International’s dividend payout ratio (DPR) is presently 136.84%.
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.
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