Allspring Global Investments Holdings LLC Increases Stock Position in Edison International (NYSE:EIX)

Allspring Global Investments Holdings LLC increased its holdings in shares of Edison International (NYSE:EIX) by 4.0% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 22,846 shares of the utilities provider’s stock after purchasing an additional 879 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Edison International were worth $1,641,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of EIX. Able Wealth Management LLC bought a new stake in Edison International during the 4th quarter valued at $25,000. Global Trust Asset Management LLC bought a new stake in Edison International during the first quarter valued at about $28,000. Country Trust Bank purchased a new position in Edison International in the second quarter valued at about $29,000. OFI Invest Asset Management bought a new position in Edison International in the second quarter worth about $32,000. Finally, LRI Investments LLC raised its holdings in Edison International by 193.7% in the second quarter. LRI Investments LLC now owns 514 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 339 shares in the last quarter. 88.95% of the stock is owned by hedge funds and other institutional investors.

Edison International Trading Up 0.3 %

Shares of NYSE:EIX opened at $87.33 on Wednesday. The company has a quick ratio of 0.96, a current ratio of 1.03 and a debt-to-equity ratio of 2.04. Edison International has a 52-week low of $58.82 and a 52-week high of $87.89. The stock has a market cap of $33.73 billion, a price-to-earnings ratio of 38.30 and a beta of 0.91. The business has a 50-day moving average price of $78.81 and a 200-day moving average price of $73.90.

Edison International (NYSE:EIX) last posted its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.18. The company had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.12 billion. Edison International had a net margin of 6.60% and a return on equity of 13.01%. Edison International’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period last year, the firm posted $1.01 EPS. Equities analysts predict that Edison International will post 4.94 EPS for the current year.

Edison International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Monday, July 8th were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 3.57%. The ex-dividend date of this dividend was Monday, July 8th. Edison International’s payout ratio is 136.84%.

Insiders Place Their Bets

In other news, CEO J Andrew Murphy sold 28,995 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now owns 19,660 shares of the company’s stock, valued at approximately $1,541,933.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO J Andrew Murphy sold 28,995 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were 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 owns 19,660 shares of the company’s stock, valued at approximately $1,541,933.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Natalie K. Schilling sold 2,341 shares of Edison International stock in a transaction that occurred 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 transaction, the vice president now directly owns 6,338 shares of the company’s stock, valued at $507,040. The disclosure for this sale can be found here. In the last three months, insiders have sold 89,099 shares of company stock valued at $7,223,342. Company insiders own 1.03% of the company’s stock.

Analyst Upgrades and Downgrades

EIX has been the topic of a number of analyst reports. Guggenheim lifted their price objective on shares of Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. 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 report on Friday, July 26th. UBS Group cut Edison International from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $83.00 to $82.00 in a research report on Friday, July 19th. Mizuho boosted their target price on Edison International from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Finally, Evercore ISI increased their price target on Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday, August 14th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $80.73.

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.