RBA Wealth Management LLC Has $2.53 Million Stock Holdings in Edison International (NYSE:EIX)

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

Other institutional investors and hedge funds also recently made changes to their positions in the company. Able Wealth Management LLC acquired a new position in Edison International during the 4th quarter worth about $25,000. Bruce G. Allen Investments LLC acquired a new position in Edison International during the 4th quarter worth about $27,000. Global Trust Asset Management LLC bought a new stake in Edison International during the 1st quarter worth about $28,000. WASHINGTON TRUST Co raised its holdings in Edison International by 117.4% during the 4th quarter. WASHINGTON TRUST Co now owns 500 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 270 shares during the last quarter. Finally, Northwest Financial Advisors bought a new stake in Edison International during the 4th quarter worth about $40,000. Institutional investors and hedge funds own 88.95% of the company’s stock.

Insider Buying and Selling

In related news, CEO J Andrew Murphy sold 58,099 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $75.01, for a total value of $4,358,005.99. Following the sale, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at $1,474,696.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Caroline Choi sold 10,004 shares of Edison International stock in a transaction dated 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 $2,039,576.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO J Andrew Murphy sold 58,099 shares of Edison International 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 sale, the chief executive officer now directly owns 19,660 shares in the company, valued at $1,474,696.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 77,897 shares of company stock worth $5,851,245. Company insiders own 1.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on EIX. Argus upped their price target on Edison International from $78.00 to $82.00 and gave the company a “buy” rating in a research note on Wednesday, June 12th. The Goldman Sachs Group began coverage on Edison International in a research note on Wednesday, April 10th. They issued a “neutral” rating and a $78.00 price target for the company. Barclays upped their price target on Edison International from $72.00 to $75.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. Wells Fargo & Company raised Edison International from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $72.00 to $86.00 in a research note on Tuesday, May 14th. Finally, Mizuho upped their price target on Edison International from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, May 17th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $77.40.

Edison International Stock Up 0.3 %

NYSE:EIX traded up $0.19 during trading hours on Thursday, reaching $71.82. 875,262 shares of the stock were exchanged, compared to its average volume of 1,622,918. Edison International has a twelve month low of $58.82 and a twelve month high of $77.04. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.00 and a quick ratio of 0.93. The firm has a 50 day moving average of $73.50 and a 200 day moving average of $70.49. The stock has a market cap of $27.63 billion, a PE ratio of 31.50 and a beta of 0.91.

Edison International (NYSE:EIX) last released its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.13 earnings per share for the quarter, topping 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 firm had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.16 billion. During the same quarter in the prior year, the firm posted $1.09 EPS. The business’s revenue was up 2.8% on a year-over-year basis. On average, equities analysts expect that Edison International will post 4.92 earnings per share for the current year.

Edison International Dividend Announcement

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

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.