Edison International (NYSE:EIX) Shares Sold by Bard Financial Services Inc.

Bard Financial Services Inc. reduced its holdings in Edison International (NYSE:EIX) by 14.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 9,900 shares of the utilities provider’s stock after selling 1,690 shares during the quarter. Bard Financial Services Inc.’s holdings in Edison International were worth $862,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in EIX. M&G Plc acquired a new position in Edison International in the first quarter valued at $85,436,000. Capital International Investors increased its stake in Edison International by 6.4% in the first quarter. Capital International Investors now owns 13,297,917 shares of the utilities provider’s stock valued at $940,562,000 after purchasing an additional 795,950 shares during the last quarter. Wellington Management Group LLP increased its stake in Edison International by 4.4% in the fourth quarter. Wellington Management Group LLP now owns 10,276,016 shares of the utilities provider’s stock valued at $734,632,000 after purchasing an additional 433,845 shares during the last quarter. Capital Research Global Investors increased its stake in Edison International by 1.7% in the first quarter. Capital Research Global Investors now owns 20,344,752 shares of the utilities provider’s stock valued at $1,438,984,000 after purchasing an additional 345,189 shares during the last quarter. Finally, Pzena Investment Management LLC increased its stake in Edison International by 2.3% in the first quarter. Pzena Investment Management LLC now owns 13,605,080 shares of the utilities provider’s stock valued at $962,287,000 after purchasing an additional 305,459 shares during the last quarter. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Edison International Stock Down 0.5 %

EIX traded down $0.47 on Friday, reaching $86.18. The company’s stock had a trading volume of 1,464,785 shares, compared to its average volume of 2,007,066. The stock has a market cap of $33.16 billion, a price-to-earnings ratio of 37.80, a price-to-earnings-growth ratio of 2.01 and a beta of 0.91. Edison International has a 1 year low of $58.82 and a 1 year high of $88.77. 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’s 50 day moving average is $84.56 and its 200 day moving average is $76.70.

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. The firm had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.12 billion. Edison International had a return on equity of 13.01% and a net margin of 6.60%. Edison International’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.01 earnings per share. As a group, research 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. Shareholders of record on Monday, October 7th will be paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.62%. The ex-dividend date is Monday, October 7th. Edison International’s payout ratio is currently 136.84%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Argus upped their price target on Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. UBS Group upped their price target on Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. Wells Fargo & Company upped their price target on Edison International from $86.00 to $87.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Guggenheim upped their price target on Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, Morgan Stanley upped their price target on Edison International from $68.00 to $72.00 and gave the stock an “underweight” rating in a research note on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $86.67.

Insider Buying and Selling at Edison International

In other Edison International news, CEO J Andrew Murphy sold 1,362 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $85.00, for a total transaction of $115,770.00. Following the sale, the chief executive officer now owns 19,850 shares in the company, valued at $1,687,250. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CEO J Andrew Murphy sold 1,362 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $85.00, for a total transaction of $115,770.00. Following the sale, the chief executive officer now directly owns 19,850 shares in the company, valued at approximately $1,687,250. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Natalie K. Schilling sold 2,341 shares of the stock in a transaction that occurred 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 sale, the vice president now owns 6,338 shares in the company, valued at $507,040. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 89,099 shares of company stock worth $7,223,342 over the last quarter. 1.03% of the stock is owned by corporate insiders.

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.