Czech National Bank Raises Position in Edison International (NYSE:EIX)

Czech National Bank grew its position in shares of Edison International (NYSE:EIX) by 7.3% during the third quarter, HoldingsChannel reports. The institutional investor owned 78,668 shares of the utilities provider’s stock after purchasing an additional 5,350 shares during the period. Czech National Bank’s holdings in Edison International were worth $6,851,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the company. Equitable Trust Co. increased its holdings in 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 buying an additional 132 shares in the last quarter. TIAA Trust National Association raised its holdings 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 valued at $483,000 after purchasing an additional 134 shares during the last quarter. Farmers & Merchants Investments Inc. lifted its position in Edison International by 53.8% during the second quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 140 shares during the period. Asset Dedication LLC lifted its position in Edison International by 37.5% during the second quarter. Asset Dedication LLC now owns 550 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 150 shares during the period. Finally, Carson Advisory Inc. boosted its holdings in Edison International by 0.3% in the first quarter. Carson Advisory Inc. now owns 54,625 shares of the utilities provider’s stock worth $3,864,000 after purchasing an additional 152 shares during the last quarter. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Edison International

In other news, CEO J Andrew Murphy sold 28,995 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $78.43, for a total transaction of $2,274,077.85. Following the completion of the sale, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at approximately $1,541,933.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Natalie K. Schilling sold 2,341 shares of Edison International stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $80.00, for a total value of $187,280.00. Following the completion of the sale, the vice president now directly owns 6,338 shares in the company, valued at $507,040. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO J Andrew Murphy sold 28,995 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $78.43, for a total transaction of $2,274,077.85. Following the transaction, the chief executive officer now owns 19,660 shares in the company, valued at approximately $1,541,933.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 89,099 shares of company stock valued at $7,223,342 in the last quarter. 1.03% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on EIX. Guggenheim increased their price target on Edison International from $80.00 to $83.00 and gave the company a “buy” rating in a report on Friday, July 26th. Argus raised their target price on Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Evercore ISI boosted their price target on Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a research note on Wednesday, August 14th. Morgan Stanley increased their price objective on shares of Edison International from $68.00 to $72.00 and gave the stock an “underweight” rating in a research note on Wednesday, September 25th. Finally, Royal Bank of Canada boosted their target price on shares of Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned 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 $86.67.

Edison International Stock Down 1.7 %

NYSE EIX opened at $83.01 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.03 and a debt-to-equity ratio of 2.04. Edison International has a 52 week low of $61.64 and a 52 week high of $88.77. The firm has a market capitalization of $32.06 billion, a price-to-earnings ratio of 36.41, a PEG ratio of 1.99 and a beta of 0.91. The company has a fifty day moving average of $84.89 and a two-hundred day moving average of $77.06.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.23 EPS for the quarter, beating the consensus estimate of $1.05 by $0.18. The company had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.12 billion. Edison International had a net margin of 6.60% and a return on equity of 13.01%. The firm’s revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.01 EPS. On average, analysts predict that Edison International will post 4.97 earnings per share for the current year.

Edison International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, October 7th will be issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date is Monday, October 7th. Edison International’s payout ratio is currently 136.84%.

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.