Legacy Capital Wealth Partners LLC Buys Shares of 2,488 Edison International (NYSE:EIX)

Legacy Capital Wealth Partners LLC bought a new stake in shares of Edison International (NYSE:EIX) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund bought 2,488 shares of the utilities provider’s stock, valued at approximately $217,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Capital Research Global Investors raised its holdings in Edison International by 1.7% in the 1st quarter. Capital Research Global Investors now owns 20,344,752 shares of the utilities provider’s stock valued at $1,438,984,000 after acquiring an additional 345,189 shares during the period. Capital International Investors raised its holdings 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 during the period. Clearbridge Investments LLC raised its holdings in Edison International by 0.5% in the 2nd quarter. Clearbridge Investments LLC now owns 5,015,988 shares of the utilities provider’s stock valued at $360,198,000 after acquiring an additional 24,834 shares during the period. American Century Companies Inc. raised its holdings in Edison International by 1.8% in the 2nd quarter. American Century Companies Inc. now owns 3,864,399 shares of the utilities provider’s stock valued at $277,503,000 after acquiring an additional 67,089 shares during the period. Finally, Hsbc Holdings PLC raised its holdings in Edison International by 10.1% in the 2nd quarter. Hsbc Holdings PLC now owns 2,073,569 shares of the utilities provider’s stock valued at $148,768,000 after acquiring an additional 190,026 shares during the period. Institutional investors own 88.95% of the company’s stock.

Insider Activity

In related news, VP Adam S. Umanoff sold 25,619 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $83.05, for a total transaction of $2,127,657.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $83.05, for a total value of $2,127,657.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO J Andrew Murphy sold 1,362 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $85.00, for a total transaction of $115,770.00. Following the completion of the transaction, the chief executive officer now owns 19,850 shares of the company’s stock, valued at approximately $1,687,250. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,878 shares of company stock valued at $4,285,422 over the last three months. Insiders own 1.03% of the company’s stock.

Edison International Trading Up 0.6 %

Shares of NYSE EIX opened at $83.58 on Tuesday. Edison International has a 1 year low of $62.21 and a 1 year high of $88.77. The stock has a market cap of $32.36 billion, a P/E ratio of 24.51, a price-to-earnings-growth ratio of 1.93 and a beta of 0.92. The firm has a 50-day moving average of $84.99 and a 200 day moving average of $79.30. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81.

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

Edison International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 7th were issued a dividend of $0.78 per share. The ex-dividend date was Monday, October 7th. This represents a $3.12 annualized dividend and a dividend yield of 3.73%. Edison International’s payout ratio is 91.50%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Morgan Stanley increased their price target on shares of Edison International from $68.00 to $72.00 and gave the stock an “underweight” rating in a research report on Wednesday, September 25th. Evercore ISI lifted their target price on shares of Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 14th. Bank of America began 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 for the company. Royal Bank of Canada boosted their target price 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. Finally, Jefferies Financial Group assumed coverage on shares of Edison International in a report on Thursday, November 7th. They set a “buy” rating and a $93.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $88.75.

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.