Pensionfund Sabic Reduces Position in Edison International (NYSE:EIX)

Pensionfund Sabic trimmed its position in Edison International (NYSE:EIX) by 18.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,700 shares of the utilities provider’s stock after selling 3,300 shares during the quarter. Pensionfund Sabic’s holdings in Edison International were worth $1,280,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of EIX. Able Wealth Management LLC purchased a new position in Edison International in the fourth quarter valued at $25,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Edison International during the 2nd quarter worth about $27,000. Global Trust Asset Management LLC purchased a new position in shares of Edison International in the 1st quarter valued at about $28,000. Country Trust Bank acquired a new stake in shares of Edison International during the 2nd quarter worth about $29,000. Finally, Farmers & Merchants Investments Inc. lifted its stake in Edison International by 53.8% during the second quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 140 shares during the last quarter. 88.95% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO J Andrew Murphy sold 23,896 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $85.45, for a total value of $2,041,913.20. Following the completion of the sale, the chief executive officer now directly owns 19,850 shares of the company’s stock, valued at $1,696,182.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Edison International news, CEO J Andrew Murphy sold 23,896 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $85.45, for a total value of $2,041,913.20. Following the completion of the transaction, the chief executive officer now owns 19,850 shares in the company, valued at approximately $1,696,182.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 value of $187,280.00. Following the completion of the sale, the vice president now directly owns 6,338 shares of the company’s stock, valued at approximately $507,040. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 89,099 shares of company stock worth $7,223,342. Company insiders own 1.03% of the company’s stock.

Edison International Price Performance

Edison International stock opened at $84.45 on Thursday. The business has a 50 day simple moving average of $84.89 and a 200-day simple moving average of $77.06. Edison International has a 12 month low of $61.64 and a 12 month 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 stock has a market capitalization of $32.61 billion, a PE ratio of 37.04, a price-to-earnings-growth ratio of 1.99 and a beta of 0.91.

Edison International (NYSE:EIX) last released its earnings results on Thursday, July 25th. The utilities provider reported $1.23 EPS for the quarter, topping the consensus estimate of $1.05 by $0.18. The company had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.12 billion. Edison International had a net margin of 6.60% and a return on equity of 13.01%. The business’s revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the business earned $1.01 EPS. Equities analysts predict that Edison International will post 4.97 earnings per share for the current year.

Edison International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, October 7th will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date of this dividend is Monday, October 7th. Edison International’s dividend payout ratio is presently 136.84%.

Wall Street Analyst Weigh In

EIX has been the topic of several recent analyst reports. Wells Fargo & Company increased their price target 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. Bank of America assumed coverage on shares of Edison International in a research report on Thursday, September 12th. They issued a “buy” rating and a $95.00 target price on the stock. Argus boosted their price target on shares of Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Evercore ISI boosted their target price on Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, August 14th. Finally, Morgan Stanley raised 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 issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $86.67.

About Edison International

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.