Edison International (NYSE:EIX) Position Reduced by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA decreased its holdings in Edison International (NYSE:EIX) by 0.7% during the second quarter, Holdings Channel.com reports. The firm owned 5,176,660 shares of the utilities provider’s stock after selling 38,449 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Edison International were worth $371,736,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in EIX. Able Wealth Management LLC acquired a new position in shares of Edison International in the 4th quarter valued at about $25,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Edison International in the 2nd quarter valued at about $27,000. Global Trust Asset Management LLC acquired a new position in shares of Edison International in the 1st quarter valued at about $28,000. Country Trust Bank acquired a new position in shares of Edison International in the 2nd quarter valued at about $29,000. Finally, Farmers & Merchants Investments Inc. increased its holdings 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 valued at $29,000 after purchasing an additional 140 shares during the period. Institutional investors and hedge funds own 88.95% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Guggenheim upped their target price on Edison International from $80.00 to $83.00 and gave the company a “buy” rating in a report on Friday, July 26th. Royal Bank of Canada reiterated an “outperform” rating and issued a $94.00 target price on shares of Edison International in a report on Monday. Wells Fargo & Company increased their price objective on Edison International from $86.00 to $87.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Barclays increased their price objective on Edison International from $80.00 to $91.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 4th. Finally, UBS Group increased their price objective on Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. 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 company’s stock. According to MarketBeat.com, Edison International currently has an average rating of “Hold” and an average price target of $85.83.

Insider Activity

In other news, CEO J Andrew Murphy sold 32,505 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $80.12, for a total value of $2,604,300.60. Following the completion of the sale, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at $1,575,159.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO J Andrew Murphy sold 32,505 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $80.12, for a total value of $2,604,300.60. Following the completion of the sale, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at $1,575,159.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Natalie K. Schilling sold 2,341 shares of the stock in a transaction that occurred 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 $507,040. The disclosure for this sale can be found here. Over the last three months, insiders sold 89,099 shares of company stock valued at $7,223,342. 1.03% of the stock is owned by company insiders.

Edison International Trading Up 1.0 %

Shares of EIX stock opened at $86.25 on Tuesday. Edison International has a 12 month low of $58.82 and a 12 month high of $88.77. The company has a quick ratio of 0.96, a current ratio of 1.03 and a debt-to-equity ratio of 2.04. The business’s 50 day moving average is $81.36 and its two-hundred day moving average is $75.07. The company has a market cap of $33.18 billion, a PE ratio of 37.83 and a beta of 0.91.

Edison International (NYSE:EIX) last announced its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.23 EPS for the quarter, beating the consensus estimate of $1.05 by $0.18. Edison International had a return on equity of 13.01% and a net margin of 6.60%. The company had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.12 billion. During the same quarter last year, the company posted $1.01 earnings per share. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. Equities analysts predict that Edison International will post 4.96 EPS for the current year.

Edison International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Monday, July 8th were given a $0.78 dividend. The ex-dividend date of this dividend was Monday, July 8th. This represents a $3.12 annualized dividend and a dividend yield of 3.62%. Edison International’s dividend payout ratio is 136.84%.

Edison International Company 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.