Asset Management One Co. Ltd. Purchases 13,820 Shares of Edison International (NYSE:EIX)

Asset Management One Co. Ltd. boosted its position in Edison International (NYSE:EIX) by 7.5% during the third quarter, Holdings Channel.com reports. The fund owned 199,035 shares of the utilities provider’s stock after acquiring an additional 13,820 shares during the period. Asset Management One Co. Ltd.’s holdings in Edison International were worth $17,334,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of EIX. Highline Wealth Partners LLC purchased a new stake in shares of Edison International in the 3rd quarter worth about $26,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Edison International in the 2nd quarter worth about $27,000. Eastern Bank purchased a new stake in shares of Edison International in the 3rd quarter worth about $27,000. Country Trust Bank purchased a new stake in shares of Edison International in the 2nd quarter worth about $29,000. Finally, Farmers & Merchants Investments Inc. lifted its position in shares of Edison International by 53.8% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 140 shares during the period. 88.95% of the stock is owned by hedge funds and other institutional investors.

Edison International Stock Performance

Shares of EIX stock opened at $81.97 on Wednesday. The company has a 50 day moving average price of $85.25 and a 200-day moving average price of $79.06. Edison International has a 52 week low of $62.21 and a 52 week high of $88.77. The firm has a market capitalization of $31.73 billion, a PE ratio of 24.04, a P/E/G ratio of 1.89 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.

Edison International (NYSE:EIX) last announced 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 net margin of 8.52% and a return on equity of 13.17%. The firm had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.01 billion. During the same period in the previous year, the business posted $1.38 earnings per share. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. As a group, equities research analysts expect that Edison International will post 4.94 earnings per share for the current year.

Edison International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 7th were paid a $0.78 dividend. The ex-dividend date was Monday, October 7th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.81%. Edison International’s dividend payout ratio is presently 91.50%.

Insider Transactions at Edison International

In related news, VP Adam S. Umanoff sold 25,619 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The shares were 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 can be accessed through the SEC website. In related news, VP Adam S. Umanoff sold 25,619 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The shares were 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 can be accessed through the SEC website. Also, CEO J Andrew Murphy sold 23,896 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $85.45, for a total transaction of $2,041,913.20. Following the sale, the chief executive officer now owns 19,850 shares of the company’s stock, valued at $1,696,182.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,877 shares of company stock worth $4,285,341 over the last three months. 1.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on EIX. Barclays raised their target price 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. Morgan Stanley lifted their price target on shares of Edison International from $68.00 to $72.00 and gave the company an “underweight” rating in a research report on Wednesday, September 25th. Bank of America began coverage on shares of Edison International in a research report on Thursday, September 12th. They set a “buy” rating and a $95.00 price target for the company. UBS Group lifted their price target on shares of Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. Finally, Evercore ISI lifted their price target on shares of Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.36.

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.