Toronto Dominion Bank Sells 95,675 Shares of Edison International (NYSE:EIX)

Toronto Dominion Bank lowered its position in shares of Edison International (NYSE:EIX) by 34.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 184,467 shares of the utilities provider’s stock after selling 95,675 shares during the period. Toronto Dominion Bank’s holdings in Edison International were worth $13,047,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in EIX. Capital Research Global Investors grew its holdings in shares of Edison International by 23.0% during the 4th quarter. Capital Research Global Investors now owns 19,999,563 shares of the utilities provider’s stock worth $1,429,769,000 after acquiring an additional 3,734,550 shares during the period. Pzena Investment Management LLC lifted its position in Edison International by 2.3% in the 1st quarter. Pzena Investment Management LLC now owns 13,605,080 shares of the utilities provider’s stock valued at $962,287,000 after acquiring an additional 305,459 shares in the last quarter. Capital International Investors lifted its position in Edison International by 6.4% in the 1st quarter. Capital International Investors now owns 13,297,917 shares of the utilities provider’s stock valued at $940,562,000 after acquiring an additional 795,950 shares in the last quarter. Wellington Management Group LLP lifted its position in Edison International by 4.4% in the 4th quarter. Wellington Management Group LLP now owns 10,276,016 shares of the utilities provider’s stock valued at $734,632,000 after acquiring an additional 433,845 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in Edison International by 4.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,261,803 shares of the utilities provider’s stock valued at $376,166,000 after buying an additional 202,541 shares during the last quarter. Institutional investors own 88.95% of the company’s stock.

Analyst Upgrades and Downgrades

EIX has been the subject of a number of analyst reports. Argus increased their price target on Edison International from $78.00 to $82.00 and gave the stock a “buy” rating in a research note on Wednesday, June 12th. Guggenheim raised their price objective on Edison International from $80.00 to $83.00 and gave the company a “buy” rating in a research note on Friday. Wells Fargo & Company increased their target price on shares of Edison International from $86.00 to $87.00 and gave the company an “overweight” rating in a research note on Friday. Barclays lifted their price target on shares of Edison International from $72.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 2nd. Finally, The Goldman Sachs Group initiated coverage on shares of Edison International in a research report on Wednesday, April 10th. They issued a “neutral” rating and a $78.00 price objective for the company. One analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $77.82.

Insiders Place Their Bets

In other Edison International news, CEO J Andrew Murphy sold 58,099 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $75.01, for a total value of $4,358,005.99. Following the transaction, the chief executive officer now directly owns 19,660 shares in the company, valued at approximately $1,474,696.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO J Andrew Murphy sold 58,099 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $75.01, for a total transaction of $4,358,005.99. Following the completion of the transaction, the chief executive officer now owns 19,660 shares of the company’s stock, valued at approximately $1,474,696.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 transaction of $758,003.08. Following the sale, the senior vice president now directly owns 26,918 shares of the company’s stock, valued at approximately $2,039,576.86. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 77,897 shares of company stock worth $5,851,245. Corporate insiders own 1.03% of the company’s stock.

Edison International Trading Up 2.7 %

Edison International stock traded up $2.08 during midday trading on Friday, hitting $78.51. 2,763,324 shares of the stock were exchanged, compared to its average volume of 2,015,903. Edison International has a fifty-two week low of $58.82 and a fifty-two week high of $79.50. The stock has a market capitalization of $30.21 billion, a price-to-earnings ratio of 34.43 and a beta of 0.91. The stock’s 50-day simple moving average is $73.81 and its 200 day simple moving average is $70.88. The company has a current ratio of 1.00, a quick ratio of 0.93 and a debt-to-equity ratio of 2.04.

Edison International (NYSE:EIX) last posted its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.13 EPS for the quarter, beating the consensus estimate of $1.12 by $0.01. Edison International had a net margin of 6.14% and a return on equity of 12.48%. The business had revenue of $4.08 billion during the quarter, compared to analyst estimates of $4.16 billion. During the same quarter last year, the firm posted $1.09 earnings per share. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. On average, equities analysts anticipate that Edison International will post 4.92 EPS for the current year.

Edison International Announces Dividend

The business also recently announced 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 of this dividend is Monday, July 8th. This represents a $3.12 annualized dividend and a dividend yield of 3.97%. Edison International’s payout ratio is currently 136.84%.

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.