Larson Financial Group LLC Has $31,000 Holdings in Edison International (NYSE:EIX)

Larson Financial Group LLC grew its holdings in Edison International (NYSE:EIX) by 125.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 351 shares of the utilities provider’s stock after purchasing an additional 195 shares during the period. Larson Financial Group LLC’s holdings in Edison International were worth $31,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Lake Street Advisors Group LLC increased its stake in Edison International by 4.3% in the 3rd quarter. Lake Street Advisors Group LLC now owns 3,015 shares of the utilities provider’s stock valued at $263,000 after buying an additional 124 shares during the period. Baker Tilly Wealth Management LLC grew its holdings in shares of Edison International by 2.8% during the 3rd quarter. Baker Tilly Wealth Management LLC now owns 4,779 shares of the utilities provider’s stock valued at $416,000 after acquiring an additional 129 shares in the last quarter. SFE Investment Counsel increased its stake in shares of Edison International by 0.3% in the third quarter. SFE Investment Counsel now owns 42,730 shares of the utilities provider’s stock worth $3,721,000 after acquiring an additional 130 shares during the last quarter. Equitable Trust Co. raised its holdings in shares of Edison International by 0.9% during the second quarter. Equitable Trust Co. now owns 15,424 shares of the utilities provider’s stock worth $1,108,000 after acquiring an additional 132 shares in the last quarter. Finally, TIAA Trust National Association boosted its position in Edison International by 2.0% during the second quarter. TIAA Trust National Association now owns 6,723 shares of the utilities provider’s stock valued at $483,000 after purchasing an additional 134 shares during the last quarter. 88.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on EIX. Jefferies Financial Group assumed coverage on Edison International in a research report on Thursday, November 7th. They issued a “buy” rating and a $93.00 target price on the stock. Argus raised their price objective 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. Royal Bank of Canada boosted their target price on shares of Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Wells Fargo & Company raised their price target on shares of Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, Evercore ISI upped their price objective on shares of Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Edison International presently has an average rating of “Moderate Buy” and a consensus target price of $88.75.

Insider Transactions at Edison International

In other news, VP Adam S. Umanoff sold 25,619 shares of Edison International stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $83.05, for a total transaction of $2,127,657.95. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.03% of the company’s stock.

Edison International Trading Down 0.7 %

Edison International stock opened at $87.75 on Friday. Edison International has a 52 week low of $63.15 and a 52 week high of $88.77. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. The firm has a market capitalization of $33.97 billion, a PE ratio of 25.73, a PEG ratio of 2.11 and a beta of 0.92. The business’s 50-day simple moving average is $84.89 and its 200-day simple moving average is $80.59.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, topping the consensus estimate of $1.38 by $0.13. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The company had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.01 billion. During the same period in the previous year, the business posted $1.38 EPS. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. Equities research analysts forecast that Edison International will post 4.94 earnings per share for the current year.

Edison International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 7th were given a $0.78 dividend. The ex-dividend date was Monday, October 7th. This represents a $3.12 annualized dividend and a yield of 3.56%. Edison International’s dividend payout ratio is 91.50%.

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.