Versor Investments LP Grows Stock Position in Edison International (NYSE:EIX)

Versor Investments LP grew its position in shares of Edison International (NYSE:EIX) by 34.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,400 shares of the utilities provider’s stock after purchasing an additional 3,700 shares during the period. Versor Investments LP’s holdings in Edison International were worth $1,254,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in EIX. M&G Plc acquired a new stake in Edison International during the 1st quarter valued at $85,436,000. abrdn plc boosted its position in Edison International by 166.4% in the 3rd quarter. abrdn plc now owns 1,418,526 shares of the utilities provider’s stock valued at $123,149,000 after buying an additional 885,955 shares during the last quarter. Capital International Investors increased its position 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 worth $940,562,000 after acquiring an additional 795,950 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in shares of Edison International by 117.8% in the third quarter. Robeco Institutional Asset Management B.V. now owns 781,736 shares of the utilities provider’s stock worth $68,081,000 after acquiring an additional 422,752 shares in the last quarter. Finally, Capital Research Global Investors boosted its holdings in Edison International by 1.7% in 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 purchasing an additional 345,189 shares during the last quarter. 88.95% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Edison International

In other Edison International news, CEO J Andrew Murphy sold 1,362 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $85.00, for a total value of $115,770.00. Following the sale, the chief executive officer now directly owns 19,850 shares in the company, valued at approximately $1,687,250. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Adam S. Umanoff sold 25,619 shares of the business’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 document filed with the SEC, which is available through the SEC website. Also, CEO J Andrew Murphy sold 1,362 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $85.00, for a total value 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 $1,687,250. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,878 shares of company stock valued at $4,285,422. 1.03% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on EIX. Wells Fargo & Company upped their target price on Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Barclays raised their price objective on shares of Edison International from $89.00 to $91.00 and gave the stock an “equal weight” rating in a 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. Jefferies Financial Group began coverage on shares of Edison International in a research report on Thursday, November 7th. They set a “buy” rating and a $93.00 price target on the stock. Finally, Guggenheim boosted their price objective on Edison International from $80.00 to $83.00 and gave the company a “buy” rating in a report on Friday, July 26th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Edison International has a consensus rating of “Moderate Buy” and a consensus price target of $88.75.

Edison International Stock Up 0.6 %

EIX opened at $83.58 on Tuesday. The stock’s 50 day moving average price is $84.99 and its 200 day moving average price is $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. The stock has a market cap of $32.36 billion, a P/E ratio of 24.51, a P/E/G ratio of 1.93 and a beta of 0.92. Edison International has a 12 month low of $62.21 and a 12 month high of $88.77.

Edison International (NYSE:EIX) last issued its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share 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 analysts’ expectations 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 was up 10.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.38 earnings per share. As a group, research analysts predict that Edison International will post 4.95 earnings per share for the current year.

Edison International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders 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 dividend on an annualized basis and a yield of 3.73%. Edison International’s dividend payout ratio (DPR) is 91.50%.

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.