International Assets Investment Management LLC Purchases New Shares in Edison International (NYSE:EIX)

International Assets Investment Management LLC purchased a new stake in Edison International (NYSE:EIX) during the 3rd quarter, HoldingsChannel reports. The firm purchased 101,951 shares of the utilities provider’s stock, valued at approximately $8,879,000.

Other large investors have also added to or reduced their stakes in the company. Eastern Bank bought a new stake in Edison International in the third quarter valued at $27,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Edison International during the 2nd quarter valued at $27,000. Country Trust Bank bought a new stake in shares of Edison International during the 2nd quarter valued at $29,000. Farmers & Merchants Investments Inc. boosted its holdings in shares of Edison International by 53.8% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock valued at $29,000 after buying an additional 140 shares in the last quarter. Finally, OFI Invest Asset Management bought a new stake in shares of Edison International during the 2nd quarter valued at $32,000. Institutional investors own 88.95% of the company’s stock.

Insider Activity

In other news, CEO J Andrew Murphy sold 23,896 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 19,850 shares of the company’s stock, valued at $1,696,182.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on EIX. Barclays boosted their target price on shares of Edison International from $89.00 to $91.00 and gave the company an “equal weight” rating in a report on Wednesday. Argus boosted their target price on shares of Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Evercore ISI boosted their target price on shares of Edison International from $82.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, August 14th. 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 report on Friday, October 4th. Finally, Bank of America assumed coverage on shares of Edison International in a research note on Thursday, September 12th. They issued a “buy” rating and a $95.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $88.36.

Edison International Price Performance

Shares of NYSE:EIX opened at $83.24 on Thursday. Edison International has a fifty-two week low of $62.21 and a fifty-two week high of $88.77. The business has a 50-day simple moving average of $85.50 and a two-hundred day simple moving average of $78.61. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.96 and a current ratio of 1.03. The firm has a market cap of $32.15 billion, a price-to-earnings ratio of 33.43, a price-to-earnings-growth ratio of 1.94 and a beta of 0.91.

Edison International (NYSE:EIX) last issued its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.12. Edison International had a return on equity of 13.01% and a net margin of 6.60%. The business had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.01 billion. During the same quarter in the previous year, the firm earned $1.38 EPS. Edison International’s revenue was up 10.6% on a year-over-year basis. On average, analysts expect that Edison International will post 4.95 earnings per share for the current year.

Edison International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, October 7th will be given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.75%. The ex-dividend date is Monday, October 7th. Edison International’s payout ratio is currently 125.30%.

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.