2,374 Shares in Edison International (NYSE:EIX) Acquired by Falcon Wealth Planning

Falcon Wealth Planning acquired a new stake in shares of Edison International (NYSE:EIX) in the 3rd quarter, Holdings Channel.com reports. The institutional investor acquired 2,374 shares of the utilities provider’s stock, valued at approximately $207,000.

Other institutional investors also recently made changes to their positions in the company. Capital Research Global Investors lifted its position in Edison International by 1.7% during the first quarter. Capital Research Global Investors now owns 20,344,752 shares of the utilities provider’s stock valued at $1,438,984,000 after buying an additional 345,189 shares in the last quarter. Capital International Investors lifted its holdings in shares of Edison International by 6.4% during 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. Clearbridge Investments LLC lifted its holdings in shares of Edison International by 0.5% during 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 in the last quarter. American Century Companies Inc. boosted its position in Edison International by 1.8% during the 2nd quarter. American Century Companies Inc. now owns 3,864,399 shares of the utilities provider’s stock worth $277,503,000 after purchasing an additional 67,089 shares during the period. Finally, Hsbc Holdings PLC increased 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 purchasing an additional 190,026 shares in the last quarter. 88.95% of the stock is owned by hedge funds and other institutional investors.

Edison International Stock Up 0.0 %

EIX traded up $0.01 during trading on Tuesday, hitting $81.01. The company had a trading volume of 153,332 shares, compared to its average volume of 1,995,426. Edison International has a 1-year low of $62.21 and a 1-year high of $88.77. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. The company has a market cap of $31.36 billion, a PE ratio of 23.75, a P/E/G ratio of 1.89 and a beta of 0.92. The business has a 50-day moving average of $85.31 and a 200-day moving average of $78.98.

Edison International (NYSE:EIX) last issued its 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. The business had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.01 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.38 EPS. As a group, analysts forecast that Edison International will post 4.94 earnings per share for the current year.

Edison International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 7th were given a $0.78 dividend. The ex-dividend date of this dividend was Monday, October 7th. This represents a $3.12 annualized dividend and a dividend yield of 3.85%. Edison International’s payout ratio is 91.50%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Royal Bank of Canada upped their target price on 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 upped their price target on Edison International from $68.00 to $72.00 and gave the stock an “underweight” rating in a report on Wednesday, September 25th. Wells Fargo & Company increased their price objective on shares of Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. UBS Group boosted their target price on shares of Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. Finally, Argus raised their price target on shares of Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.36.

Insider Activity

In related news, VP Adam S. Umanoff sold 25,619 shares of the firm’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $83.05, for a total transaction of $2,127,657.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO J Andrew Murphy sold 23,896 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 19,850 shares in the company, valued at approximately $1,696,182.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $2,127,657.95. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,877 shares of company stock worth $4,285,341. 1.20% of the stock is currently owned by insiders.

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.