Intact Investment Management Inc. Makes New Investment in Edison International (NYSE:EIX)

Intact Investment Management Inc. acquired a new stake in shares of Edison International (NYSE:EIX) in the third quarter, Holdings Channel reports. The fund acquired 840 shares of the utilities provider’s stock, valued at approximately $73,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital Research Global Investors lifted its position in shares of 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 in the last quarter. Capital International Investors grew its holdings in shares of Edison International by 6.4% during the first quarter. Capital International Investors now owns 13,297,917 shares of the utilities provider’s stock valued at $940,562,000 after buying an additional 795,950 shares in the last quarter. Clearbridge Investments LLC raised its position in Edison International by 0.5% during the second quarter. Clearbridge Investments LLC now owns 5,015,988 shares of the utilities provider’s stock valued at $360,198,000 after buying an additional 24,834 shares during the period. American Century Companies Inc. raised its position in Edison International by 1.8% during the second quarter. American Century Companies Inc. now owns 3,864,399 shares of the utilities provider’s stock valued at $277,503,000 after buying an additional 67,089 shares during the period. Finally, Hsbc Holdings PLC raised its position in Edison International by 10.1% during the second quarter. Hsbc Holdings PLC now owns 2,073,569 shares of the utilities provider’s stock valued at $148,768,000 after buying an additional 190,026 shares during the period. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Edison International

In related 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 completion of the sale, the chief executive officer now owns 19,850 shares in the company, valued at $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 is available through this link. In related 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 completion of the sale, the chief executive officer now owns 19,850 shares in the company, valued at $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 is available through this link. Also, VP Adam S. Umanoff sold 25,619 shares of the 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 quarter, insiders sold 50,877 shares of company stock worth $4,285,341. 1.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on EIX shares. Bank of America started coverage on Edison International in a research report on Thursday, September 12th. They set a “buy” rating and a $95.00 price target on the stock. Argus upped their price target on Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Royal Bank of Canada upped their price target on Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Evercore ISI upped their target price on Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 14th. Finally, Wells Fargo & Company upped their target price on Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $88.36.

Edison International Stock Performance

EIX opened at $81.97 on Wednesday. The company has a market cap of $31.73 billion, a PE ratio of 24.04, a price-to-earnings-growth ratio of 1.89 and a beta of 0.92. The stock has a 50-day moving average of $85.25 and a 200-day moving average of $79.06. Edison International has a 52-week low of $62.21 and a 52-week high of $88.77. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88.

Edison International (NYSE:EIX) last released its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 13.17% and a net margin of 8.52%. The firm’s revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.38 EPS. As a group, equities research analysts forecast that Edison International will post 4.94 earnings per share for the current fiscal year.

Edison International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 7th were paid a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $3.12 annualized dividend and a dividend yield of 3.81%. Edison International’s dividend payout ratio (DPR) is presently 91.50%.

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.