Raymond James Trust N.A. Grows Position in Edison International (NYSE:EIX)

Raymond James Trust N.A. boosted its holdings in Edison International (NYSE:EIX) by 22.3% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,497 shares of the utilities provider’s stock after buying an additional 1,369 shares during the quarter. Raymond James Trust N.A.’s holdings in Edison International were worth $653,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. abrdn plc grew its stake in shares of Edison International by 166.4% in the third quarter. abrdn plc now owns 1,418,526 shares of the utilities provider’s stock worth $123,149,000 after acquiring an additional 885,955 shares during the period. Robeco Institutional Asset Management B.V. grew its position in Edison International by 117.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 781,736 shares of the utilities provider’s stock worth $68,081,000 after purchasing an additional 422,752 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in 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 valued at $22,884,000 after buying an additional 272,876 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of Edison International during the 2nd quarter valued at $18,484,000. Finally, Swedbank AB purchased a new position in shares of Edison International in the 1st quarter worth $17,918,000. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Price Performance

NYSE:EIX opened at $87.60 on Tuesday. The stock has a market cap of $33.91 billion, a PE ratio of 25.69, a P/E/G ratio of 2.07 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. The business’s 50-day simple moving average is $84.66 and its two-hundred day simple moving average is $80.26. Edison International has a 52 week low of $63.15 and a 52 week high of $88.77.

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

Edison International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, October 7th were paid a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $3.12 annualized dividend and a yield of 3.56%. Edison International’s payout ratio is 91.50%.

Analysts Set New Price Targets

EIX has been the topic of a number of recent research reports. Bank of America initiated coverage on Edison International in a report on Thursday, September 12th. They issued a “buy” rating and a $95.00 target price on the stock. Argus increased their price objective on shares of Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Wells Fargo & Company boosted their target price on shares of Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Barclays increased their price target on shares of Edison International from $89.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Jefferies Financial Group started coverage on shares of Edison International in a research report on Thursday, November 7th. They set a “buy” rating and a $93.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $88.75.

Insider Buying and Selling at Edison International

In other news, VP Adam S. Umanoff sold 25,619 shares of the firm’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $83.05, for a total transaction of $2,127,657.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.03% of the stock is currently owned by 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.