SYSTM Wealth Solutions LLC Decreases Stock Position in Edison International (NYSE:EIX)

SYSTM Wealth Solutions LLC lessened its position in shares of Edison International (NYSE:EIX) by 9.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,559 shares of the utilities provider’s stock after selling 254 shares during the period. SYSTM Wealth Solutions LLC’s holdings in Edison International were worth $184,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Edgestream Partners L.P. purchased a new stake in Edison International during the second quarter valued at about $1,351,000. Renaissance Technologies LLC purchased a new stake in shares of Edison International during the 2nd quarter valued at approximately $18,484,000. Dimensional Fund Advisors LP boosted its holdings in Edison International by 15.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,635,880 shares of the utilities provider’s stock worth $117,476,000 after buying an additional 218,762 shares during the period. Plato Investment Management Ltd boosted its holdings in Edison International by 11.3% in the 2nd quarter. Plato Investment Management Ltd now owns 44,790 shares of the utilities provider’s stock worth $3,216,000 after buying an additional 4,552 shares during the period. Finally, Envestnet Asset Management Inc. grew its stake in Edison International by 1.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 486,400 shares of the utilities provider’s stock valued at $34,928,000 after buying an additional 4,726 shares in the last quarter. Institutional investors own 88.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on EIX shares. Guggenheim raised their price target on Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $94.00 target price on shares of Edison International in a report on Monday. Bank of America began coverage on shares of Edison International in a report on Thursday, September 12th. They issued a “buy” rating and a $95.00 price target on the stock. UBS Group boosted their price objective on shares of Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Finally, Barclays increased their target price on shares of Edison International from $80.00 to $91.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $85.83.

Insider Buying and Selling

In other Edison International news, CEO J Andrew Murphy sold 28,995 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $78.43, for a total transaction of $2,274,077.85. Following the transaction, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at approximately $1,541,933.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO J Andrew Murphy sold 28,995 shares of Edison International stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $78.43, for a total transaction of $2,274,077.85. Following the sale, the chief executive officer now owns 19,660 shares of the company’s stock, valued at approximately $1,541,933.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Natalie K. Schilling sold 2,341 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $80.00, for a total transaction of $187,280.00. Following the completion of the transaction, the vice president now directly owns 6,338 shares of the company’s stock, valued at $507,040. The disclosure for this sale can be found here. Insiders sold 89,099 shares of company stock valued at $7,223,342 over the last quarter. 1.03% of the stock is owned by company insiders.

Edison International Trading Down 0.9 %

Shares of EIX opened at $85.29 on Thursday. The stock has a market capitalization of $32.82 billion, a P/E ratio of 37.41 and a beta of 0.91. Edison International has a twelve month low of $58.82 and a twelve month 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 firm has a fifty day simple moving average of $81.91 and a two-hundred day simple moving average of $75.28.

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

Edison International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Monday, July 8th were issued a dividend of $0.78 per share. The ex-dividend date was Monday, July 8th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.66%. Edison International’s dividend payout ratio 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.