Scientech Research LLC Makes New $494,000 Investment in Edison International (NYSE:EIX)

Scientech Research LLC acquired a new stake in shares of Edison International (NYSE:EIX) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 6,885 shares of the utilities provider’s stock, valued at approximately $494,000.

Several other large investors have also modified their holdings of the stock. Equitable Trust Co. grew its holdings in Edison International by 0.9% in the second quarter. Equitable Trust Co. now owns 15,424 shares of the utilities provider’s stock valued at $1,108,000 after purchasing an additional 132 shares during the period. TIAA Trust National Association increased its holdings in shares of Edison International by 2.0% during the 2nd quarter. TIAA Trust National Association now owns 6,723 shares of the utilities provider’s stock worth $483,000 after buying an additional 134 shares during the last quarter. Farmers & Merchants Investments Inc. raised its position in shares of Edison International by 53.8% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock worth $29,000 after buying an additional 140 shares during the period. Asset Dedication LLC boosted its holdings in Edison International by 37.5% in the second quarter. Asset Dedication LLC now owns 550 shares of the utilities provider’s stock valued at $39,000 after acquiring an additional 150 shares during the last quarter. Finally, Carson Advisory Inc. grew its position in Edison International by 0.3% during the first quarter. Carson Advisory Inc. now owns 54,625 shares of the utilities provider’s stock valued at $3,864,000 after acquiring an additional 152 shares during the period. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on EIX shares. Guggenheim raised their price objective on Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Morgan Stanley lifted their price target on shares of Edison International from $68.00 to $72.00 and gave the company an “underweight” rating in a research report on Wednesday, September 25th. Wells Fargo & Company raised their target price 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. UBS Group upped their price target on shares of Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $94.00 price objective on shares of Edison International in a research report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Edison International presently has a consensus rating of “Hold” and an average price target of $86.17.

Insider Activity at Edison International

In other Edison International news, VP Natalie K. Schilling sold 2,341 shares of the firm’s stock in a transaction on 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 transaction, the vice president now directly owns 6,338 shares of the company’s stock, valued at approximately $507,040. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO J Andrew Murphy sold 28,995 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was 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 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 SEC, which is accessible through this hyperlink. Also, VP Natalie K. Schilling sold 2,341 shares of the firm’s stock in a transaction 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 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. Insiders have sold 89,099 shares of company stock valued at $7,223,342 over the last ninety days. Corporate insiders own 1.03% of the company’s stock.

Edison International Stock Up 0.7 %

Shares of Edison International stock opened at $86.81 on Monday. Edison International has a 1-year low of $58.82 and a 1-year high of $88.77. The company has a market capitalization of $33.52 billion, a PE ratio of 38.07, a P/E/G ratio of 1.99 and a beta of 0.91. 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 business has a 50-day moving average of $83.48 and a 200-day moving average of $76.17.

Edison International (NYSE:EIX) last issued its quarterly earnings results 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 firm had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.12 billion. During the same quarter in the prior year, the business posted $1.01 earnings per share. Edison International’s revenue for the quarter was up 9.4% on a year-over-year basis. As a group, equities analysts forecast that Edison International will post 4.97 EPS for the current fiscal year.

Edison International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, October 7th will be paid a $0.78 dividend. The ex-dividend date is Monday, October 7th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.59%. Edison International’s dividend payout ratio (DPR) 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.