Edison International (NYSE:EIX) Shares Bought by KBC Group NV

KBC Group NV raised its holdings in Edison International (NYSE:EIX) by 93.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 49,578 shares of the utilities provider’s stock after acquiring an additional 23,935 shares during the quarter. KBC Group NV’s holdings in Edison International were worth $4,318,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of EIX. Highline Wealth Partners LLC purchased a new position in Edison International in the third quarter valued at $26,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Edison International in the 2nd quarter valued at about $27,000. Eastern Bank acquired a new position in shares of Edison International during the third quarter worth about $27,000. Country Trust Bank purchased a new stake in shares of Edison International during the second quarter worth approximately $29,000. Finally, Farmers & Merchants Investments Inc. raised its holdings in Edison International by 53.8% in the second quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 140 shares in the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Insider Activity

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of Edison International stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $83.05, for a total value of $2,127,657.95. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO J Andrew Murphy sold 1,362 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $85.00, for a total value of $115,770.00. Following the completion of the transaction, the chief executive officer now directly owns 19,850 shares in the company, valued at approximately $1,687,250. The trade was a 6.42 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 50,878 shares of company stock valued at $4,285,422. Insiders own 1.03% of the company’s stock.

Edison International Stock Up 1.9 %

Shares of NYSE EIX opened at $83.68 on Monday. The business has a 50-day moving average price of $84.55 and a 200 day moving average price of $79.72. The stock has a market cap of $32.40 billion, a PE ratio of 24.54, a price-to-earnings-growth ratio of 2.00 and a beta of 0.92. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. Edison International has a 52-week low of $63.15 and a 52-week high of $88.77.

Edison International (NYSE:EIX) last announced its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.13. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The business had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.01 billion. During the same period last year, the firm posted $1.38 earnings per share. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. Equities research analysts forecast that Edison International will post 4.95 earnings per share for the current year.

Edison International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 7th were paid a $0.78 dividend. The ex-dividend date of this dividend was Monday, October 7th. This represents a $3.12 dividend on an annualized basis and a yield of 3.73%. Edison International’s dividend payout ratio is presently 91.50%.

Wall Street Analyst Weigh In

Several research firms have commented on EIX. Jefferies Financial Group initiated coverage on shares of Edison International in a report on Thursday, November 7th. They set a “buy” rating and a $93.00 price target for the company. Bank of America started coverage on shares of Edison International in a research note on Thursday, September 12th. They set a “buy” rating and a $95.00 target price for the company. Morgan Stanley increased their target price on Edison International from $68.00 to $72.00 and gave the company an “underweight” rating in a report on Wednesday, September 25th. Argus lifted their price target on Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Finally, Wells Fargo & Company increased their price objective on Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Edison International has an average rating of “Moderate Buy” and an average target price of $88.75.

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.