US Bancorp DE Purchases 743 Shares of Edison International (NYSE:EIX)

US Bancorp DE increased its position in Edison International (NYSE:EIX) by 1.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,744 shares of the utilities provider’s stock after buying an additional 743 shares during the quarter. US Bancorp DE’s holdings in Edison International were worth $5,377,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Pinnacle Associates Ltd. bought a new stake in Edison International in the 3rd quarter worth approximately $308,000. First Trust Direct Indexing L.P. lifted its position in Edison International by 10.8% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 9,535 shares of the utilities provider’s stock worth $830,000 after buying an additional 932 shares during the last quarter. New York State Teachers Retirement System lifted its position in Edison International by 5.2% in the 3rd quarter. New York State Teachers Retirement System now owns 390,144 shares of the utilities provider’s stock worth $33,978,000 after buying an additional 19,196 shares during the last quarter. Edge Financial Advisors LLC bought a new stake in Edison International in the 3rd quarter worth approximately $768,000. Finally, Highline Wealth Partners LLC bought a new stake in Edison International in the third quarter valued at approximately $26,000. Institutional investors own 88.95% of the company’s stock.

Insider Buying and Selling

In related news, CEO J Andrew Murphy sold 23,896 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $85.45, for a total value of $2,041,913.20. Following the sale, the chief executive officer now directly owns 19,850 shares of the company’s stock, valued at $1,696,182.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.03% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Guggenheim boosted their price objective on Edison International from $80.00 to $83.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Barclays boosted their price objective on Edison International from $89.00 to $91.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Evercore ISI boosted their price objective on Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, August 14th. Argus boosted their price objective on Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Finally, Royal Bank of Canada boosted their price objective on Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Edison International has an average rating of “Moderate Buy” and a consensus target price of $88.36.

Edison International Price Performance

EIX opened at $81.13 on Monday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.96 and a current ratio of 0.88. Edison International has a 52-week low of $62.21 and a 52-week high of $88.77. The stock has a market capitalization of $31.41 billion, a PE ratio of 23.79, a price-to-earnings-growth ratio of 1.92 and a beta of 0.92. The stock’s 50 day moving average price is $85.39 and its 200-day moving average price is $78.89.

Edison International (NYSE:EIX) last issued 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 $1.38 by $0.13. The company had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.01 billion. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.38 earnings per share. On average, equities research analysts predict that Edison International will post 4.94 EPS for the current year.

Edison International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, October 7th were paid a $0.78 dividend. The ex-dividend date was Monday, October 7th. This represents a $3.12 annualized dividend and a yield of 3.85%. Edison International’s payout ratio is 91.50%.

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.