Investment House LLC raised its stake in Edison International (NYSE:EIX) by 0.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,604 shares of the company’s stock after buying an additional 3 shares during the period. Investment House LLC’s holdings in Edison International were worth $513,000 as of its most recent filing with the SEC.
Other institutional investors have also made changes to their positions in the company. Pitcairn Co. acquired a new position in shares of Edison International during the second quarter valued at about $202,000. Bank of Montreal Can acquired a new position in shares of Edison International during the second quarter valued at about $36,388,000. Shell Asset Management Co. boosted its position in shares of Edison International by 11.9% in the second quarter. Shell Asset Management Co. now owns 70,532 shares of the company’s stock valued at $5,478,000 after buying an additional 7,518 shares in the last quarter. Daiwa Securities Group Inc. boosted its position in shares of Edison International by 523.1% in the second quarter. Daiwa Securities Group Inc. now owns 48,600 shares of the company’s stock valued at $3,775,000 after buying an additional 40,800 shares in the last quarter. Finally, RNC Capital Management LLC boosted its position in shares of Edison International by 1.1% in the second quarter. RNC Capital Management LLC now owns 7,034 shares of the company’s stock valued at $546,000 after buying an additional 75 shares in the last quarter. 81.95% of the stock is currently owned by institutional investors.
Edison International (NYSE:EIX) traded up 0.68% during mid-day trading on Thursday, reaching $75.51. 1,016,842 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $73.80 and a 200 day moving average price of $73.04. The company has a market cap of $24.60 billion, a PE ratio of 28.00 and a beta of 0.17. Edison International has a 52-week low of $57.51 and a 52-week high of $78.72.
Edison International (NYSE:EIX) last released its earnings results on Thursday, July 28th. The company reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by $0.12. Edison International had a net margin of 8.56% and a return on equity of 9.13%. The business had revenue of $2.78 billion for the quarter, compared to analyst estimates of $3.18 billion. During the same quarter in the previous year, the company posted $1.16 earnings per share. The business’s revenue for the quarter was down 4.5% on a year-over-year basis. Equities analysts predict that Edison International will post $3.89 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Friday, September 30th will be given a $0.48 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.54%. Edison International’s dividend payout ratio is 71.11%.
Several brokerages have recently issued reports on EIX. Deutsche Bank AG set a $78.00 price objective on shares of Edison International and gave the stock a “hold” rating in a research note on Sunday, September 4th. Jefferies Group reaffirmed a “hold” rating and issued a $80.00 price objective on shares of Edison International in a research note on Friday, September 2nd. BMO Capital Markets reaffirmed an “outperform” rating and issued a $82.00 price objective (up previously from $79.00) on shares of Edison International in a research note on Monday, August 1st. Citigroup Inc. lifted their price objective on shares of Edison International from $70.00 to $79.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 20th. Finally, Zacks Investment Research raised shares of Edison International from a “sell” rating to a “hold” rating in a research note on Monday, July 11th. Ten equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $77.38.
In related news, insider Ronald L. Litzinger sold 38,084 shares of the stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $72.10, for a total value of $2,745,856.40. Following the sale, the insider now directly owns 12,053 shares in the company, valued at approximately $869,021.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ellen O. Tauscher sold 3,012 shares of the stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $71.87, for a total transaction of $216,472.44. The disclosure for this sale can be found here. 1.51% of the stock is currently owned by corporate insiders.
Edison International Company Profile
Edison International is the parent holding company of Southern California Edison Company (SCE). SCE is engaged in the business of supplying and delivering electricity to an approximately 50,000 square mile area of southern California. It is also the parent company of subsidiaries that are engaged in competitive businesses focused on providing energy services to commercial and industrial customers, including distributed resources, engaging in transmission opportunities, and exploring distributed water treatment and recycling.
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