Whittier Trust Co. of Nevada Inc. Reduces Holdings in Edison International (NYSE:EIX)

Whittier Trust Co. of Nevada Inc. lowered its holdings in Edison International (NYSE:EIX) by 42.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 509 shares of the utilities provider’s stock after selling 375 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Edison International were worth $44,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of EIX. M&G Plc purchased a new stake in Edison International in the 1st quarter worth approximately $85,436,000. Capital International Investors lifted its holdings in Edison International by 6.4% in the 1st quarter. Capital International Investors now owns 13,297,917 shares of the utilities provider’s stock worth $940,562,000 after buying an additional 795,950 shares during the period. Capital Research Global Investors lifted its holdings in Edison International by 1.7% in the 1st quarter. Capital Research Global Investors now owns 20,344,752 shares of the utilities provider’s stock worth $1,438,984,000 after buying an additional 345,189 shares during the period. Pzena Investment Management LLC lifted its holdings in Edison International by 2.3% in the 1st quarter. Pzena Investment Management LLC now owns 13,605,080 shares of the utilities provider’s stock worth $962,287,000 after buying an additional 305,459 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Edison International by 595.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 318,672 shares of the utilities provider’s stock worth $22,884,000 after buying an additional 272,876 shares during the period. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Wall Street Analysts Forecast Growth

EIX has been the subject of several research analyst reports. 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. Evercore ISI increased their target price on Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 14th. Morgan Stanley increased their target price on Edison International from $68.00 to $72.00 and gave the stock an “underweight” rating in a research report on Wednesday, September 25th. Barclays decreased their target price on Edison International from $91.00 to $89.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 15th. Finally, Bank of America began coverage on Edison International in a research report on Thursday, September 12th. They issued a “buy” rating and a $95.00 target price for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $87.55.

Insider Buying and Selling at Edison International

In other Edison International news, VP Natalie K. Schilling sold 2,341 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $80.00, for a total transaction of $187,280.00. Following the sale, the vice president now directly owns 6,338 shares in the company, valued at approximately $507,040. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Edison International news, VP Natalie K. Schilling sold 2,341 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $80.00, for a total transaction of $187,280.00. Following the sale, the vice president now directly owns 6,338 shares in the company, valued at approximately $507,040. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO J Andrew Murphy sold 32,505 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $80.12, for a total value of $2,604,300.60. Following the sale, the chief executive officer now owns 19,660 shares in the company, valued at approximately $1,575,159.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 60,104 shares of company stock worth $4,949,264. Insiders own 1.03% of the company’s stock.

Edison International Stock Down 0.5 %

EIX stock opened at $85.60 on Friday. Edison International has a twelve month low of $61.64 and a twelve 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 firm has a market cap of $33.06 billion, a PE ratio of 34.38, a price-to-earnings-growth ratio of 1.98 and a beta of 0.91. The business has a 50 day moving average of $85.47 and a 200 day moving average of $78.11.

Edison International (NYSE:EIX) last posted its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $4.12 billion. During the same quarter last year, the company earned $1.01 EPS. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, research analysts forecast that Edison International will post 4.97 EPS for the current fiscal year.

Edison International Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Monday, October 7th. This represents a $3.12 annualized dividend and a yield of 3.64%. Edison International’s dividend payout ratio is 125.30%.

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.