IFM Investors Pty Ltd raised its stake in shares of Edison International (NYSE:EIX - Free Report) by 13.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 153,256 shares of the utilities provider's stock after acquiring 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 filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Eastern Bank acquired a new position in Edison International in the third quarter valued at about $27,000. Ashton Thomas Private Wealth LLC bought a new stake in Edison International during the 2nd quarter worth approximately $27,000. Country Trust Bank bought a new position in Edison International in the 2nd quarter valued at $29,000. Farmers & Merchants Investments Inc. raised its position in Edison International by 53.8% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider's stock valued at $29,000 after purchasing an additional 140 shares during the last quarter. Finally, OFI Invest Asset Management bought a new stake in shares of Edison International during the second quarter worth $32,000. Institutional investors and hedge funds own 88.95% of the company's stock.
In related news, VP Natalie K. Schilling sold 2,341 shares of the business's stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total value 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO J Andrew Murphy sold 1,362 shares of the business's stock in a transaction 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 sale, the chief executive officer now owns 19,850 shares of the company's stock, valued at $1,687,250. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Natalie K. Schilling sold 2,341 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $80.00, for a total transaction of $187,280.00. Following the transaction, the vice president now owns 6,338 shares of the company's stock, valued at $507,040. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 60,104 shares of company stock worth $4,949,264 in the last 90 days. Corporate insiders own 1.03% of the company's stock.
Shares of NYSE EIX opened at $85.60 on Friday. Edison International has a 52-week low of $61.64 and a 52-week high of $88.77. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.96 and a current ratio of 1.03. The stock has a market cap of $33.06 billion, a P/E ratio of 34.38, a P/E/G ratio of 1.98 and a beta of 0.91. The firm has a 50 day moving average price of $85.47 and a 200 day moving average price of $78.11.
Edison International (NYSE:EIX - Get Free Report) last released its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.23 EPS for the quarter, beating analysts' consensus estimates of $1.05 by $0.18. The business had revenue of $4.34 billion during the quarter, compared to analysts' expectations of $4.12 billion. Edison International had a net margin of 6.60% and a return on equity of 13.01%. The firm's quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.01 EPS. Analysts expect that Edison International will post 4.97 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, October 7th will be given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date of this dividend is Monday, October 7th. Edison International's dividend payout ratio is currently 125.30%.
A number of research firms recently issued reports on EIX. Argus lifted their price target on Edison International from $82.00 to $97.00 and gave the company a "buy" rating in a report on Wednesday, September 11th. Barclays reduced their target price on shares of Edison International from $91.00 to $89.00 and set an "equal weight" rating on the stock in a research report on Tuesday, October 15th. UBS Group raised 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. Guggenheim upped their price objective on Edison International from $80.00 to $83.00 and gave the stock a "buy" rating in a report on Friday, July 26th. Finally, Evercore ISI lifted their target price on Edison International from $82.00 to $88.00 and gave the company an "outperform" rating in a research note on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $87.55.
Get Our Latest Stock Report on 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.
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