Edison International (NYSE:EIX) Shares Acquired by RBA Wealth Management LLC

RBA Wealth Management LLC lifted its holdings in Edison International (NYSE:EIX) by 5.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 40,014 shares of the utilities provider’s stock after acquiring an additional 1,964 shares during the quarter. RBA Wealth Management LLC’s holdings in Edison International were worth $3,485,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Equitable Trust Co. increased its stake in shares of Edison International by 0.9% in the second 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 period. TIAA Trust National Association increased its stake in shares of Edison International by 2.0% in the second quarter. TIAA Trust National Association now owns 6,723 shares of the utilities provider’s stock worth $483,000 after acquiring an additional 134 shares during the period. Farmers & Merchants Investments Inc. increased its stake in shares of Edison International by 53.8% in the second quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 140 shares during the period. Asset Dedication LLC increased its stake in shares of Edison International by 37.5% in the second quarter. Asset Dedication LLC now owns 550 shares of the utilities provider’s stock worth $39,000 after acquiring an additional 150 shares during the period. Finally, Carson Advisory Inc. increased its stake in shares of 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 acquiring an additional 152 shares during the period. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Price Performance

EIX traded up $1.22 during midday trading on Tuesday, hitting $85.83. 1,782,613 shares of the company traded hands, compared to its average volume of 1,990,855. The company has a current ratio of 1.03, a quick ratio of 0.96 and a debt-to-equity ratio of 2.04. The company has a market capitalization of $33.15 billion, a price-to-earnings ratio of 33.98, a PEG ratio of 1.98 and a beta of 0.91. Edison International has a 52-week low of $61.64 and a 52-week high of $88.77. The business has a 50 day simple moving average of $85.35 and a two-hundred day simple moving average of $77.94.

Edison International (NYSE:EIX) last posted its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.18. The firm 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 company’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period last year, the firm posted $1.01 earnings per share. On average, equities analysts forecast that Edison International will post 4.97 earnings per share for the current fiscal year.

Edison International Announces Dividend

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 paid a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.64%. The ex-dividend date of this dividend is Monday, October 7th. Edison International’s dividend payout ratio is currently 125.30%.

Wall Street Analyst Weigh In

Several research firms recently commented on EIX. Bank of America began coverage on shares of Edison International in a research report on Thursday, September 12th. They set a “buy” rating and a $95.00 price target on the stock. Guggenheim raised their price target on shares of Edison International from $80.00 to $83.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Morgan Stanley raised their price target on shares of Edison International from $68.00 to $72.00 and gave the company an “underweight” rating in a research report on Wednesday, September 25th. Wells Fargo & Company raised their price target on shares of Edison International from $86.00 to $87.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Finally, Barclays dropped their price target on shares of Edison International from $91.00 to $89.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Edison International currently has a consensus rating of “Moderate Buy” and an average target price of $87.55.

Insider Transactions at Edison International

In other Edison International news, CEO J Andrew Murphy sold 23,896 shares of Edison International 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 transaction, the chief executive officer now directly owns 19,850 shares of the company’s stock, valued at $1,696,182.50. 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 is accessible through the SEC website. In other Edison International news, VP Natalie K. Schilling sold 2,341 shares of Edison International stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total transaction of $187,280.00. Following the transaction, the vice president now directly owns 6,338 shares of the company’s stock, valued at $507,040. 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 is accessible through the SEC website. Also, CEO J Andrew Murphy sold 23,896 shares of Edison International stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $85.45, for a total transaction of $2,041,913.20. Following the transaction, the chief executive officer now directly owns 19,850 shares in the company, valued at $1,696,182.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 89,099 shares of company stock valued at $7,223,342. Corporate insiders own 1.03% of the company’s stock.

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.