Private Advisor Group LLC Decreases Stock Holdings in Edison International (NYSE:EIX)

Private Advisor Group LLC decreased its holdings in Edison International (NYSE:EIX) by 8.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 17,434 shares of the utilities provider’s stock after selling 1,710 shares during the quarter. Private Advisor Group LLC’s holdings in Edison International were worth $1,518,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Capital Research Global Investors raised its position 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 last quarter. Pzena Investment Management LLC increased its position in shares of Edison International by 2.3% during the 1st quarter. Pzena Investment Management LLC now owns 13,605,080 shares of the utilities provider’s stock valued at $962,287,000 after purchasing an additional 305,459 shares during the last quarter. Capital International Investors increased its position in shares of Edison International by 6.4% during the 1st quarter. Capital International Investors now owns 13,297,917 shares of the utilities provider’s stock valued at $940,562,000 after purchasing an additional 795,950 shares during the last quarter. Clearbridge Investments LLC increased its position in shares of Edison International by 0.5% during the 2nd quarter. Clearbridge Investments LLC now owns 5,015,988 shares of the utilities provider’s stock valued at $360,198,000 after purchasing an additional 24,834 shares during the last quarter. Finally, American Century Companies Inc. increased its position in shares of Edison International by 1.8% during the 2nd quarter. American Century Companies Inc. now owns 3,864,399 shares of the utilities provider’s stock valued at $277,503,000 after purchasing an additional 67,089 shares during the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Trading Up 0.1 %

EIX stock opened at $83.24 on Thursday. Edison International has a 1-year low of $62.21 and a 1-year high of $88.77. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.03 and a quick ratio of 0.96. The company has a market capitalization of $32.15 billion, a price-to-earnings ratio of 33.43, a PEG ratio of 1.94 and a beta of 0.91. The business has a 50 day simple moving average of $85.50 and a two-hundred day simple moving average of $78.61.

Edison International (NYSE:EIX) last posted its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.12. Edison International had a return on equity of 13.01% and a net margin of 6.60%. The business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.01 billion. During the same period in the prior year, the company posted $1.38 EPS. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. Research analysts anticipate that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, October 7th will be paid a $0.78 dividend. The ex-dividend date is Monday, October 7th. This represents a $3.12 annualized dividend and a yield of 3.75%. Edison International’s payout ratio is 125.30%.

Analyst Upgrades and Downgrades

EIX has been the subject of several research reports. UBS Group upped their price target on shares of Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. Royal Bank of Canada upped their price target on shares of Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Evercore ISI upped their price target on shares of Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, August 14th. Bank of America started coverage on shares of Edison International in a research report on Thursday, September 12th. They set a “buy” rating and a $95.00 price target for the company. Finally, Argus increased their target price on shares of Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $88.36.

Insiders Place Their Bets

In other news, CEO J Andrew Murphy sold 23,896 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $85.45, for a total transaction of $2,041,913.20. Following the completion of the transaction, the chief executive officer now directly owns 19,850 shares in the company, valued at approximately $1,696,182.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.20% of the stock is currently owned by corporate insiders.

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.