Mondrian Investment Partners LTD Increases Stock Holdings in Edison International (NYSE:EIX)

Mondrian Investment Partners LTD boosted its stake in shares of Edison International (NYSE:EIX) by 3.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 20,531 shares of the utilities provider’s stock after purchasing an additional 748 shares during the period. Mondrian Investment Partners LTD’s holdings in Edison International were worth $1,474,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of EIX. Norges Bank purchased a new position in shares of Edison International during the fourth quarter worth $210,327,000. Gladstone Institutional Advisory LLC increased its stake in shares of Edison International by 17.2% in the 4th quarter. Gladstone Institutional Advisory LLC now owns 4,499 shares of the utilities provider’s stock valued at $322,000 after purchasing an additional 661 shares in the last quarter. D.A. Davidson & CO. raised its holdings in Edison International by 2.0% in the 4th quarter. D.A. Davidson & CO. now owns 37,955 shares of the utilities provider’s stock worth $2,713,000 after purchasing an additional 726 shares during the period. Corient Private Wealth LLC raised its holdings in Edison International by 0.3% in the 4th quarter. Corient Private Wealth LLC now owns 61,247 shares of the utilities provider’s stock worth $4,379,000 after purchasing an additional 175 shares during the period. Finally, Dai ichi Life Insurance Company Ltd grew its holdings in Edison International by 12.8% in the fourth quarter. Dai ichi Life Insurance Company Ltd now owns 162,480 shares of the utilities provider’s stock valued at $11,616,000 after purchasing an additional 18,429 shares during the period. 88.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on EIX shares. Morgan Stanley upped their target price on Edison International from $62.00 to $68.00 and gave the stock an “underweight” rating in a research note on Friday, August 23rd. Barclays increased their price objective on shares of Edison International from $80.00 to $91.00 and gave the company an “equal weight” rating in a report on Wednesday, September 4th. Argus boosted their target price on shares of Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Wells Fargo & Company raised their price target on shares of Edison International from $86.00 to $87.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Finally, Bank of America assumed coverage on Edison International in a research note on Thursday, September 12th. They set a “buy” rating and a $95.00 price objective for the company. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $85.83.

Insider Buying and Selling

In other Edison International news, CEO J Andrew Murphy sold 32,505 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $80.12, for a total value of $2,604,300.60. Following the transaction, the chief executive officer now directly owns 19,660 shares in the company, valued at approximately $1,575,159.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO J Andrew Murphy sold 32,505 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $80.12, for a total value of $2,604,300.60. Following the transaction, the chief executive officer now directly owns 19,660 shares in the company, valued at $1,575,159.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Natalie K. Schilling sold 2,341 shares of the 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 $507,040. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 89,099 shares of company stock worth $7,223,342. Insiders own 1.03% of the company’s stock.

Edison International Trading Down 0.2 %

Shares of Edison International stock opened at $86.06 on Wednesday. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.03 and a quick ratio of 0.96. The stock’s 50 day simple moving average is $81.65 and its 200-day simple moving average is $75.21. The stock has a market cap of $33.11 billion, a P/E ratio of 37.75 and a beta of 0.91. Edison International has a 1-year low of $58.82 and a 1-year high of $88.77.

Edison International (NYSE:EIX) last released its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.23 earnings per share for the quarter, topping 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 company had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.12 billion. During the same quarter in the previous year, the company posted $1.01 earnings per share. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. Analysts predict that Edison International will post 4.96 EPS for the current fiscal year.

Edison International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Monday, July 8th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date of this dividend was Monday, July 8th. Edison International’s dividend payout ratio is currently 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.