KWB Wealth Sells 480 Shares of Edison International (NYSE:EIX)

KWB Wealth lessened its position in shares of Edison International (NYSE:EIX) by 2.3% in the 2nd quarter, HoldingsChannel reports. The fund owned 20,005 shares of the utilities provider’s stock after selling 480 shares during the period. KWB Wealth’s holdings in Edison International were worth $1,172,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Camden Capital LLC acquired a new position in Edison International during the 1st quarter valued at approximately $37,000. CSat Investment Advisory L.P. increased its stake in Edison International by 63.4% during the 1st quarter. CSat Investment Advisory L.P. now owns 639 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 248 shares in the last quarter. E Fund Management Co. Ltd. acquired a new position in Edison International during the 1st quarter valued at approximately $39,000. Montag A & Associates Inc. increased its stake in Edison International by 263.2% during the 2nd quarter. Montag A & Associates Inc. now owns 690 shares of the utilities provider’s stock valued at $40,000 after purchasing an additional 500 shares in the last quarter. Finally, Eagle Bay Advisors LLC purchased a new stake in shares of Edison International in the 2nd quarter valued at $43,000. Hedge funds and other institutional investors own 86.85% of the company’s stock.

Edison International stock traded up $0.59 during midday trading on Wednesday, hitting $59.07. 16,940 shares of the stock were exchanged, compared to its average volume of 1,951,121. Edison International has a fifty-two week low of $48.47 and a fifty-two week high of $66.68. The stock has a market capitalization of $22.43 billion, a price-to-earnings ratio of 27.20, a PEG ratio of 3.81 and a beta of 0.59. The stock’s 50-day simple moving average is $57.35 and its 200 day simple moving average is $57.88. The company has a current ratio of 0.63, a quick ratio of 0.58 and a debt-to-equity ratio of 1.42.

Edison International (NYSE:EIX) last released its quarterly earnings data on Thursday, July 29th. The utilities provider reported $0.94 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.99 by ($0.05). Edison International had a return on equity of 11.69% and a net margin of 6.83%. The firm had revenue of $3.32 billion for the quarter, compared to analyst estimates of $3.09 billion. During the same quarter in the previous year, the business posted $1.00 earnings per share. Equities analysts anticipate that Edison International will post 4.48 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 31st. Investors of record on Thursday, September 30th will be given a dividend of $0.6625 per share. This represents a $2.65 annualized dividend and a yield of 4.49%. The ex-dividend date is Wednesday, September 29th. Edison International’s payout ratio is currently 58.63%.

Several research firms have recently commented on EIX. TheStreet raised shares of Edison International from a “c” rating to a “b-” rating in a report on Thursday, July 29th. Bank of America downgraded shares of Edison International from a “buy” rating to a “neutral” rating and set a $59.00 price target on the stock. in a report on Tuesday, July 13th. Morgan Stanley lowered their price target on shares of Edison International from $72.00 to $60.00 and set an “equal weight” rating on the stock in a report on Thursday, September 9th. Barclays increased their price target on shares of Edison International from $64.00 to $65.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 25th. Finally, Mizuho upped their price objective on shares of Edison International from $68.00 to $77.00 and gave the stock a “buy” rating in a research report on Friday, June 11th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $66.00.

Edison International Company Profile

Edison International is a renewable energy company, which through its subsidiaries, generates and distributes electric power, and invests in energy services and technologies. The company was founded on July 4, 1886 and is headquartered in Rosemead, CA.

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Institutional Ownership by Quarter for Edison International (NYSE:EIX)

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