RBA Wealth Management LLC Boosts Stake in Edison International (NYSE:EIX)

RBA Wealth Management LLC lifted its holdings in Edison International (NYSE:EIX) by 8.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,819 shares of the utilities provider’s stock after purchasing an additional 2,649 shares during the quarter. RBA Wealth Management LLC’s holdings in Edison International were worth $2,533,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Ausbil Investment Management Ltd increased its position in Edison International by 54.7% during the fourth quarter. Ausbil Investment Management Ltd now owns 135,099 shares of the utilities provider’s stock valued at $9,658,000 after acquiring an additional 47,784 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund increased its position in Edison International by 4.2% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 13,655 shares of the utilities provider’s stock valued at $976,000 after acquiring an additional 551 shares during the last quarter. Jump Financial LLC purchased a new stake in Edison International during the fourth quarter valued at $1,215,000. Avantax Advisory Services Inc. increased its position in Edison International by 73.2% during the fourth quarter. Avantax Advisory Services Inc. now owns 21,114 shares of the utilities provider’s stock valued at $1,509,000 after acquiring an additional 8,922 shares during the last quarter. Finally, Principal Securities Inc. bought a new stake in Edison International during the fourth quarter valued at about $1,233,000. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Insider Buying and Selling at Edison International

In other news, CEO J Andrew Murphy sold 9,794 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $75.07, for a total value of $735,235.58. Following the sale, the chief executive officer now directly owns 19,660 shares in the company, valued at $1,475,876.20. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, SVP Caroline Choi sold 10,004 shares of the stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $75.77, for a total value of $758,003.08. Following the sale, the senior vice president now directly owns 26,918 shares in the company, valued at $2,039,576.86. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO J Andrew Murphy sold 9,794 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $75.07, for a total value of $735,235.58. Following the completion of the transaction, the chief executive officer now directly owns 19,660 shares in the company, valued at approximately $1,475,876.20. The disclosure for this sale can be found here. Insiders have sold a total of 77,897 shares of company stock worth $5,851,245 over the last ninety days. Company insiders own 1.20% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on EIX shares. The Goldman Sachs Group started coverage on Edison International in a report on Wednesday, April 10th. They set a “neutral” rating and a $78.00 price target for the company. Morgan Stanley cut their price target on Edison International from $64.00 to $61.00 and set an “underweight” rating for the company in a report on Monday, June 24th. Royal Bank of Canada cut their price target on Edison International from $81.00 to $80.00 and set an “outperform” rating for the company in a report on Thursday, March 7th. Wells Fargo & Company raised Edison International from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $72.00 to $86.00 in a report on Tuesday, May 14th. Finally, Barclays boosted their price target on Edison International from $72.00 to $75.00 and gave the company an “equal weight” rating in a report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $77.40.

Edison International Price Performance

Edison International stock traded up $0.19 during midday trading on Thursday, reaching $71.82. 875,262 shares of the stock traded hands, compared to its average volume of 1,622,918. The stock’s fifty day moving average is $73.50 and its 200-day moving average is $70.49. Edison International has a 12 month low of $58.82 and a 12 month high of $77.04. The stock has a market cap of $27.63 billion, a P/E ratio of 31.50 and a beta of 0.91. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 2.04.

Edison International (NYSE:EIX) last announced its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.01. Edison International had a return on equity of 12.48% and a net margin of 6.14%. The company had revenue of $4.08 billion during the quarter, compared to analyst estimates of $4.16 billion. During the same period in the prior year, the company earned $1.09 earnings per share. The firm’s revenue was up 2.8% on a year-over-year basis. As a group, equities research analysts anticipate that Edison International will post 4.92 EPS for the current year.

Edison International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Monday, July 8th will be given a dividend of $0.78 per share. The ex-dividend date is Monday, July 8th. This represents a $3.12 dividend on an annualized basis and a yield of 4.34%. Edison International’s dividend payout ratio (DPR) is presently 136.84%.

Edison International Company 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.