Raymond James Trust N.A. Sells 145 Shares of Edison International (NYSE:EIX)

Raymond James Trust N.A. cut its position in shares of Edison International (NYSE:EIX) by 2.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,128 shares of the utilities provider’s stock after selling 145 shares during the period. Raymond James Trust N.A.’s holdings in Edison International were worth $440,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the company. Able Wealth Management LLC purchased a new stake in shares of Edison International in the 4th quarter worth approximately $25,000. Global Trust Asset Management LLC bought a new stake in shares of Edison International in the 1st quarter valued at about $28,000. Country Trust Bank purchased a new position in shares of Edison International in the 2nd quarter worth approximately $29,000. OFI Invest Asset Management bought a new position in shares of Edison International during the 2nd quarter worth approximately $32,000. Finally, LRI Investments LLC lifted its position in Edison International by 193.7% during the second quarter. LRI Investments LLC now owns 514 shares of the utilities provider’s stock valued at $37,000 after acquiring an additional 339 shares during the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Stock Performance

Shares of NYSE EIX opened at $84.79 on Wednesday. The company’s fifty day moving average price is $77.08 and its 200 day moving average price is $73.01. The company has a market capitalization of $32.62 billion, a PE ratio of 37.18 and a beta of 0.91. Edison International has a 1 year low of $58.82 and a 1 year high of $85.96. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.96 and a current ratio of 1.03.

Edison International (NYSE:EIX) last posted 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 net margin of 6.60% and a return on equity of 13.01%. The company had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.12 billion. During the same period in the prior year, the business posted $1.01 earnings per share. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, research analysts predict that Edison International will post 4.94 earnings per share for the current year.

Edison International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Monday, July 8th were paid a dividend of $0.78 per share. The ex-dividend date was Monday, July 8th. This represents a $3.12 annualized dividend and a yield of 3.68%. Edison International’s dividend payout ratio (DPR) is presently 136.84%.

Analyst Ratings Changes

Several research analysts recently issued reports on EIX shares. Guggenheim upped their target price on Edison International from $80.00 to $83.00 and gave the company a “buy” rating in a research report on Friday, July 26th. UBS Group lowered shares of Edison International from a “buy” rating to a “neutral” rating and cut their price target for the company from $83.00 to $82.00 in a research note on Friday, July 19th. Morgan Stanley lifted their price objective on shares of Edison International from $62.00 to $68.00 and gave the stock an “underweight” rating in a research note on Friday, August 23rd. Barclays boosted their price target on Edison International from $75.00 to $80.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. Finally, Mizuho raised their price target on shares of Edison International from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Edison International presently has a consensus rating of “Hold” and an average target price of $80.73.

Insider Buying and Selling

In other Edison International news, CEO J Andrew Murphy sold 23,896 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $85.45, for a total transaction of $2,041,913.20. Following the transaction, the chief executive officer now owns 19,850 shares of the company’s stock, valued at $1,696,182.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Edison International news, VP Natalie K. Schilling sold 2,341 shares of Edison International stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total transaction of $187,280.00. Following the completion of the sale, the vice president now directly owns 6,338 shares in the company, valued at $507,040. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO J Andrew Murphy sold 23,896 shares of Edison International stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $85.45, for a total transaction of $2,041,913.20. Following the completion of the sale, the chief executive officer now owns 19,850 shares of the company’s stock, valued at approximately $1,696,182.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 99,103 shares of company stock worth $7,981,345. 1.03% of the stock is owned by insiders.

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.