National Pension Service Sells 11,203 Shares of Edison International (NYSE:EIX)

National Pension Service reduced its position in Edison International (NYSE:EIX) by 1.9% in the third quarter, Holdings Channel.com reports. The firm owned 567,049 shares of the utilities provider’s stock after selling 11,203 shares during the quarter. National Pension Service’s holdings in Edison International were worth $49,384,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of EIX. CreativeOne Wealth LLC bought a new position in Edison International during the first quarter valued at approximately $230,000. Swedbank AB increased its holdings in shares of Edison International by 76.3% in the second quarter. Swedbank AB now owns 446,637 shares of the utilities provider’s stock worth $32,073,000 after buying an additional 193,307 shares during the period. Intech Investment Management LLC lifted its stake in shares of Edison International by 44.9% in the 1st quarter. Intech Investment Management LLC now owns 46,263 shares of the utilities provider’s stock valued at $3,272,000 after acquiring an additional 14,346 shares during the last quarter. Sei Investments Co. boosted its holdings in Edison International by 14.5% during the 1st quarter. Sei Investments Co. now owns 321,567 shares of the utilities provider’s stock valued at $22,744,000 after acquiring an additional 40,646 shares during the period. Finally, Janus Henderson Group PLC grew its position in Edison International by 150.6% during the 1st quarter. Janus Henderson Group PLC now owns 169,742 shares of the utilities provider’s stock worth $12,004,000 after acquiring an additional 102,000 shares during the last quarter. 88.95% of the stock is currently owned by institutional investors.

Edison International Stock Up 1.2 %

Shares of NYSE:EIX opened at $81.97 on Wednesday. Edison International has a 12-month low of $62.21 and a 12-month high of $88.77. The stock has a market capitalization of $31.73 billion, a price-to-earnings ratio of 24.04, a PEG ratio of 1.89 and a beta of 0.92. The stock has a fifty day simple moving average of $85.25 and a two-hundred day simple moving average of $79.06. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, beating the consensus estimate of $1.38 by $0.13. The company had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.01 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. Edison International’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.38 EPS. On average, research analysts anticipate that Edison International will post 4.94 earnings per share for the current fiscal year.

Edison International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, October 7th were issued a $0.78 dividend. The ex-dividend date was Monday, October 7th. This represents a $3.12 dividend on an annualized basis and a yield of 3.81%. Edison International’s payout ratio is currently 91.50%.

Insider Activity at Edison International

In other 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 legal filing with the Securities & Exchange Commission, which is available at this link. In other Edison International news, CEO J Andrew Murphy sold 1,362 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $85.00, for a total value of $115,770.00. Following the transaction, the chief executive officer now owns 19,850 shares of the company’s stock, valued at approximately $1,687,250. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Adam S. Umanoff sold 25,619 shares of the business’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $83.05, for a total value of $2,127,657.95. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,877 shares of company stock valued at $4,285,341. 1.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

EIX has been the topic of several recent analyst reports. Royal Bank of Canada raised their target price on shares of Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Evercore ISI lifted their price target on shares of Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, August 14th. UBS Group upped their price objective on shares of Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. Argus lifted their target price on shares of Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Finally, Bank of America started coverage on shares of Edison International in a report on Thursday, September 12th. They issued a “buy” rating and a $95.00 price objective for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.36.

Edison International Company 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.