Mraz Amerine & Associates Inc. maintained its position in shares of Edison International (NYSE:EIX) during the second quarter, Holdings Channel reports. The fund owned 3,500 shares of the company’s stock at the end of the second quarter. Mraz Amerine & Associates Inc.’s holdings in Edison International were worth $272,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Raymond James Trust N.A. raised its position in shares of Edison International by 5.4% in the first quarter. Raymond James Trust N.A. now owns 4,137 shares of the company’s stock valued at $298,000 after buying an additional 212 shares during the last quarter. Glenmede Trust Co. NA raised its position in shares of Edison International by 777.8% in the first quarter. Glenmede Trust Co. NA now owns 32,284 shares of the company’s stock valued at $2,320,000 after buying an additional 28,606 shares during the last quarter. Aperio Group LLC raised its position in shares of Edison International by 6.5% in the first quarter. Aperio Group LLC now owns 122,950 shares of the company’s stock valued at $8,839,000 after buying an additional 7,451 shares during the last quarter. Virginia Retirement System bought a new position in shares of Edison International during the first quarter valued at approximately $380,000. Finally, IFP Advisors Inc raised its position in shares of Edison International by 10.0% in the first quarter. IFP Advisors Inc now owns 6,386 shares of the company’s stock valued at $459,000 after buying an additional 582 shares during the last quarter. 81.95% of the stock is owned by hedge funds and other institutional investors.
Edison International (NYSE:EIX) traded down 0.08% during midday trading on Wednesday, reaching $73.70. 1,289,632 shares of the company were exchanged. The company has a 50 day moving average of $73.73 and a 200-day moving average of $73.22. The company has a market capitalization of $24.01 billion, a price-to-earnings ratio of 27.33 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 announced its quarterly earnings data on Thursday, July 28th. The company reported $0.85 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.97 by $0.12. Edison International had a return on equity of 9.13% and a net margin of 8.56%. The business had revenue of $2.78 billion for the quarter, compared to analyst estimates of $3.18 billion. During the same period in the prior year, the company earned $1.16 EPS. The company’s revenue was down 4.5% on a year-over-year basis. On average, equities research analysts anticipate that Edison International will post $3.89 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Friday, September 30th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date is Wednesday, September 28th. Edison International’s dividend payout ratio is presently 71.11%.
EIX has been the subject of several research analyst reports. Zacks Investment Research raised shares of Edison International from a “hold” rating to a “buy” rating and set a $81.00 price objective for the company in a research report on Tuesday, June 7th. Argus reaffirmed a “buy” rating and issued a $86.00 price objective (up from $83.00) on shares of Edison International in a research report on Tuesday, July 5th. Evercore ISI lowered shares of Edison International from a “buy” rating to a “hold” rating and increased their price objective for the company from $70.00 to $79.00 in a research report on Wednesday, July 6th. Jefferies Group reiterated a “hold” rating on shares of Edison International in a report on Monday, July 11th. Finally, Citigroup Inc. increased their price target on shares of Edison International from $70.00 to $79.00 and gave the stock a “neutral” rating in a report on Wednesday, July 20th. Nine analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $78.04.
In related news, Director Jagjeet S. Bindra sold 3,995 shares of the company’s stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $73.80, for a total transaction of $294,831.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Ronald L. Litzinger sold 38,084 shares of the company’s stock in a transaction on Monday, September 12th. The stock was sold at an average price of $72.10, for a total value of $2,745,856.40. Following the transaction, the insider now directly owns 12,053 shares in the company, valued at approximately $869,021.30. The disclosure for this sale can be found here. Corporate insiders own 1.51% of the company’s stock.
About Edison International
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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