Strait & Sound Wealth Management LLC Has $507,000 Stock Holdings in Edison International (NYSE:EIX)

Strait & Sound Wealth Management LLC grew its position in Edison International (NYSE:EIX) by 52.9% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 5,823 shares of the utilities provider’s stock after buying an additional 2,014 shares during the period. Strait & Sound Wealth Management LLC’s holdings in Edison International were worth $507,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Highline Wealth Partners LLC bought a new position in Edison International in the third quarter valued at approximately $26,000. Groupama Asset Managment lifted its stake in shares of Edison International by 0.8% in the 3rd quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 237 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in shares of Edison International in the 2nd quarter worth $27,000. Eastern Bank acquired a new stake in shares of Edison International during the third quarter worth $27,000. Finally, Farmers & Merchants Investments Inc. increased its holdings in Edison International by 53.8% in 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 last quarter. Institutional investors own 88.95% of the company’s stock.

Analyst Upgrades and Downgrades

EIX has been the topic of a number of recent analyst reports. Royal Bank of Canada lifted their price target on shares of Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Morgan Stanley reduced their target price on Edison International from $74.00 to $72.00 and set an “underweight” rating on the stock in a report on Friday, November 22nd. Jefferies Financial Group assumed coverage on Edison International in a report on Thursday, November 7th. They issued a “buy” rating and a $93.00 price target for the company. Wells Fargo & Company lifted their price objective on Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, Evercore ISI increased their target price on Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 14th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Edison International has a consensus rating of “Moderate Buy” and a consensus price target of $88.75.

Edison International Stock Performance

Shares of EIX stock opened at $83.05 on Tuesday. The firm has a market cap of $32.15 billion, a PE ratio of 24.35, a P/E/G ratio of 2.01 and a beta of 0.92. Edison International has a 12 month low of $63.15 and a 12 month high of $88.77. The company’s fifty day simple moving average is $84.67 and its 200-day simple moving average is $80.99. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96.

Edison International (NYSE:EIX) last posted its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.13. The company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.01 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The company’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.38 EPS. Equities research analysts expect that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 7th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.76%. The ex-dividend date was Monday, October 7th. Edison International’s dividend payout ratio (DPR) is 91.50%.

Insider Transactions at Edison International

In other news, VP Adam S. Umanoff sold 25,619 shares of the business’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $83.05, for a total transaction of $2,127,657.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 1.20% of the company’s stock.

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.