Frank Rimerman Advisors LLC Boosts Stock Position in Edison International (NYSE:EIX)

Frank Rimerman Advisors LLC raised its stake in Edison International (NYSE:EIX) by 36,800.0% during the 2nd quarter, HoldingsChannel reports. The firm owned 2,952 shares of the utilities provider’s stock after acquiring an additional 2,944 shares during the period. Frank Rimerman Advisors LLC’s holdings in Edison International were worth $212,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. Corient Private Wealth LLC increased its stake 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 valued at $4,379,000 after buying an additional 175 shares during the period. US Bancorp DE increased its stake in shares of Edison International by 7.3% during the fourth quarter. US Bancorp DE now owns 70,061 shares of the utilities provider’s stock worth $5,009,000 after acquiring an additional 4,740 shares during the period. Advisory Services Network LLC acquired a new stake in Edison International in the fourth quarter valued at about $193,000. United Services Automobile Association purchased a new stake in Edison International in the 4th quarter valued at approximately $743,000. Finally, TD Asset Management Inc boosted its holdings in Edison International by 6.2% in the 4th quarter. TD Asset Management Inc now owns 137,873 shares of the utilities provider’s stock valued at $9,857,000 after purchasing an additional 8,040 shares in the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Insider Activity at Edison International

In other Edison International news, CEO J Andrew Murphy sold 28,995 shares of Edison International 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 completion of the sale, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at approximately $1,541,933.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO J Andrew Murphy sold 28,995 shares of Edison International stock in a transaction on Friday, July 26th. The stock was sold at an average price of $78.43, for a total value of $2,274,077.85. Following the completion of the sale, the chief executive officer now owns 19,660 shares of the company’s stock, valued at $1,541,933.80. The sale was disclosed in a document filed with the SEC, which is available through 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 value of $187,280.00. Following the transaction, the vice president now owns 6,338 shares in the company, valued at $507,040. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 89,099 shares of company stock valued at $7,223,342. Company insiders own 1.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. UBS Group upped their price objective on Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. Evercore ISI increased 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. Royal Bank of Canada reiterated an “outperform” rating and issued a $94.00 price objective on shares of Edison International in a research note on Monday, September 16th. Wells Fargo & Company upped their target price on shares of Edison International from $86.00 to $87.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Finally, Guggenheim lifted their price target on shares of Edison International from $80.00 to $83.00 and gave the company a “buy” rating in a research report on Friday, July 26th. One equities 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 MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $86.17.

Edison International Price Performance

Shares of NYSE:EIX opened at $85.50 on Thursday. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.96 and a current ratio of 1.03. The business’s fifty day moving average price is $82.82 and its two-hundred day moving average price is $75.81. The stock has a market cap of $32.90 billion, a PE ratio of 37.50, a price-to-earnings-growth ratio of 1.99 and a beta of 0.91. Edison International has a one year low of $58.82 and a one year high of $88.77.

Edison International (NYSE:EIX) last posted its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.23 EPS for the quarter, beating 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 business had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.12 billion. During the same quarter last year, the company earned $1.01 earnings per share. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. On average, analysts forecast that Edison International will post 4.97 EPS for the current fiscal year.

Edison International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, October 7th will be given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date of this dividend is Monday, October 7th. Edison International’s dividend payout ratio is presently 136.84%.

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.