Meiji Yasuda Asset Management Co Ltd. Sells 2,910 Shares of Edison International (NYSE:EIX)

Meiji Yasuda Asset Management Co Ltd. cut its holdings in Edison International (NYSE:EIX) by 1.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 191,944 shares of the utilities provider’s stock after selling 2,910 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Edison International were worth $13,783,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of EIX. CreativeOne Wealth LLC bought a new stake in Edison International during the first quarter worth about $230,000. Swedbank AB lifted its holdings in shares of Edison International by 76.3% during the second quarter. Swedbank AB now owns 446,637 shares of the utilities provider’s stock valued at $32,073,000 after purchasing an additional 193,307 shares during the last quarter. Norges Bank bought a new stake in shares of Edison International in the 4th quarter worth approximately $210,327,000. Brookstone Capital Management grew its stake in shares of Edison International by 3,503.3% in the 1st quarter. Brookstone Capital Management now owns 135,341 shares of the utilities provider’s stock worth $9,573,000 after buying an additional 131,585 shares during the last quarter. Finally, Intech Investment Management LLC increased its position in Edison International by 44.9% during the 1st quarter. Intech Investment Management LLC now owns 46,263 shares of the utilities provider’s stock valued at $3,272,000 after buying an additional 14,346 shares in the last quarter. 88.95% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on EIX shares. Wells Fargo & Company boosted their target price on Edison International from $86.00 to $87.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. UBS Group upped their price target on shares of Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. Royal Bank of Canada restated an “outperform” rating and set a $94.00 price objective on shares of Edison International in a research note on Monday. Bank of America started coverage on shares of Edison International in a report on Thursday, September 12th. They set a “buy” rating and a $95.00 price target on the stock. Finally, Barclays boosted their price objective on shares of Edison International from $80.00 to $91.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Edison International has an average rating of “Hold” and an average price target of $85.83.

Insider Buying and Selling

In other Edison International news, CEO J Andrew Murphy sold 28,995 shares of Edison International stock in a transaction on Friday, July 26th. The shares were sold at an average price of $78.43, for a total value of $2,274,077.85. Following the sale, the chief executive officer now directly owns 19,660 shares in the company, valued at approximately $1,541,933.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Edison International news, 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 sale, the vice president now owns 6,338 shares of the company’s stock, valued at approximately $507,040. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO J Andrew Murphy sold 28,995 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $78.43, for a total value of $2,274,077.85. Following the transaction, the chief executive officer now owns 19,660 shares of the company’s stock, valued at $1,541,933.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 89,099 shares of company stock worth $7,223,342. 1.03% of the stock is owned by insiders.

Edison International Stock Performance

Shares of EIX opened at $86.06 on Wednesday. Edison International has a 52 week low of $58.82 and a 52 week high of $88.77. 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 stock has a market cap of $33.11 billion, a price-to-earnings ratio of 37.75 and a beta of 0.91. The business has a 50-day simple moving average of $81.65 and a two-hundred day simple moving average of $75.21.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.18. The business had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.12 billion. Edison International had a net margin of 6.60% and a return on equity of 13.01%. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.01 earnings per share. On average, analysts expect that Edison International will post 4.96 EPS for the current year.

Edison International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Monday, July 8th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.63%. The ex-dividend date of this dividend was Monday, July 8th. Edison International’s dividend payout ratio (DPR) is presently 136.84%.

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.