Edison International (NYSE:EIX) Stock Position Cut by Plato Investment Management Ltd

Plato Investment Management Ltd reduced its position in shares of Edison International (NYSE:EIX) by 2.6% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 43,643 shares of the utilities provider’s stock after selling 1,147 shares during the quarter. Plato Investment Management Ltd’s holdings in Edison International were worth $3,797,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of EIX. Lake Street Advisors Group LLC raised its holdings in shares of Edison International by 4.3% in the 3rd quarter. Lake Street Advisors Group LLC now owns 3,015 shares of the utilities provider’s stock worth $263,000 after purchasing an additional 124 shares in the last quarter. Baker Tilly Wealth Management LLC lifted its position in shares of Edison International by 2.8% during the 3rd quarter. Baker Tilly Wealth Management LLC now owns 4,779 shares of the utilities provider’s stock valued at $416,000 after acquiring an additional 129 shares during the last quarter. SFE Investment Counsel boosted its stake in shares of Edison International by 0.3% during the 3rd quarter. SFE Investment Counsel now owns 42,730 shares of the utilities provider’s stock worth $3,721,000 after acquiring an additional 130 shares in the last quarter. Equitable Trust Co. grew its holdings in shares of Edison International by 0.9% in the 2nd quarter. Equitable Trust Co. now owns 15,424 shares of the utilities provider’s stock worth $1,108,000 after acquiring an additional 132 shares during the last quarter. Finally, TIAA Trust National Association raised its position in shares of Edison International by 2.0% during the second quarter. TIAA Trust National Association now owns 6,723 shares of the utilities provider’s stock worth $483,000 after purchasing an additional 134 shares during the period. Institutional investors own 88.95% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on EIX shares. Argus increased their price target on Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Jefferies Financial Group initiated coverage on shares of Edison International in a research report on Thursday, November 7th. They issued a “buy” rating and a $93.00 target price on the stock. Bank of America began coverage on shares of Edison International in a research report on Thursday, September 12th. They issued a “buy” rating and a $95.00 price target for the company. Royal Bank of Canada raised their price objective on Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Finally, UBS Group lifted their target price on shares of Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $88.75.

Insider Buying and Selling

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $83.05, for a total value of $2,127,657.95. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, VP Adam S. Umanoff sold 25,619 shares of the company’s stock in a transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO J Andrew Murphy sold 1,362 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $85.00, for a total transaction of $115,770.00. Following the completion of the sale, the chief executive officer now owns 19,850 shares in the company, valued at $1,687,250. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 50,878 shares of company stock valued at $4,285,422. Insiders own 1.03% of the company’s stock.

Edison International Price Performance

NYSE EIX opened at $82.18 on Thursday. The stock’s 50-day moving average is $84.83 and its two-hundred day moving average is $79.48. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. Edison International has a fifty-two week low of $63.15 and a fifty-two week high of $88.77. The firm has a market cap of $31.82 billion, a P/E ratio of 24.10, a price-to-earnings-growth ratio of 1.98 and a beta of 0.92.

Edison International (NYSE:EIX) last posted its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.13. The business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.01 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. Edison International’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.38 EPS. On average, analysts anticipate that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Announces Dividend

The firm also recently disclosed 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 of this dividend was Monday, October 7th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.80%. Edison International’s payout ratio is presently 91.50%.

Edison International Profile

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.