IFM Investors Pty Ltd Has $13.35 Million Stock Position in Edison International (NYSE:EIX)

IFM Investors Pty Ltd increased its stake in Edison International (NYSE:EIX) by 13.3% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 153,256 shares of the utilities provider’s stock after purchasing an additional 18,035 shares during the quarter. IFM Investors Pty Ltd’s holdings in Edison International were worth $13,347,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. M&G Plc acquired a new stake in Edison International in the first quarter valued at $85,436,000. Capital International Investors grew its holdings in Edison International by 6.4% during the first quarter. Capital International Investors now owns 13,297,917 shares of the utilities provider’s stock worth $940,562,000 after purchasing an additional 795,950 shares during the period. Capital Research Global Investors increased its position in Edison International by 1.7% during the first 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 last quarter. Pzena Investment Management LLC raised its stake in Edison International by 2.3% in the first quarter. Pzena Investment Management LLC now owns 13,605,080 shares of the utilities provider’s stock valued at $962,287,000 after buying an additional 305,459 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of Edison International by 595.9% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 318,672 shares of the utilities provider’s stock worth $22,884,000 after acquiring an additional 272,876 shares during the period. 88.95% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

EIX has been the topic of a number of research analyst reports. Barclays dropped their price target on Edison International from $91.00 to $89.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 15th. Morgan Stanley raised their target price on shares of Edison International from $68.00 to $72.00 and gave the stock an “underweight” rating in a research note on Wednesday, September 25th. Royal Bank of Canada lifted their target price on shares of Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. UBS Group increased their price target on shares of Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. Finally, Bank of America began coverage on Edison International in a report on Thursday, September 12th. They set a “buy” rating and a $95.00 price objective for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.55.

Edison International Stock Performance

EIX opened at $85.60 on Friday. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.96 and a current ratio of 1.03. Edison International has a 52-week low of $61.64 and a 52-week high of $88.77. The firm has a market cap of $33.06 billion, a P/E ratio of 34.38, a price-to-earnings-growth ratio of 1.98 and a beta of 0.91. The business’s fifty day moving average is $85.47 and its 200-day moving average is $78.11.

Edison International (NYSE:EIX) last released its 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 net margin of 6.60% and a return on equity of 13.01%. The firm had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.12 billion. During the same period last year, the firm earned $1.01 EPS. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. Sell-side analysts expect that Edison International will post 4.97 EPS for the current fiscal year.

Edison International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, October 7th will be paid a $0.78 dividend. The ex-dividend date of this dividend is Monday, October 7th. This represents a $3.12 dividend on an annualized basis and a yield of 3.64%. Edison International’s dividend payout ratio (DPR) is 125.30%.

Insider Buying and Selling at Edison International

In other news, CEO J Andrew Murphy sold 32,505 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $80.12, for a total transaction of $2,604,300.60. Following the completion of the transaction, the chief executive officer now owns 19,660 shares of the company’s stock, valued at approximately $1,575,159.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, 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 sale, the vice president now directly owns 6,338 shares of the company’s stock, valued at approximately $507,040. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO J Andrew Murphy sold 32,505 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at approximately $1,575,159.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 60,104 shares of company stock worth $4,949,264 over the last three months. Corporate insiders own 1.03% of the company’s stock.

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.