Bard Financial Services Inc. Cuts Stake in Edison International (NYSE:EIX)

Bard Financial Services Inc. trimmed its position in shares of Edison International (NYSE:EIX) by 18.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,200 shares of the utilities provider’s stock after selling 2,100 shares during the period. Bard Financial Services Inc.’s holdings in Edison International were worth $735,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Lake Street Advisors Group LLC raised its stake in shares of Edison International by 4.3% in the 3rd quarter. Lake Street Advisors Group LLC now owns 3,015 shares of the utilities provider’s stock valued at $263,000 after purchasing an additional 124 shares in the last quarter. Baker Tilly Wealth Management LLC lifted its stake in Edison International by 2.8% during the third quarter. Baker Tilly Wealth Management LLC now owns 4,779 shares of the utilities provider’s stock worth $416,000 after purchasing an additional 129 shares during the last quarter. SFE Investment Counsel boosted its holdings in Edison International by 0.3% in the third quarter. SFE Investment Counsel now owns 42,730 shares of the utilities provider’s stock worth $3,721,000 after purchasing an additional 130 shares during the period. Farmers & Merchants Investments Inc. increased its stake in Edison International by 53.8% during the second quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 140 shares during the last quarter. Finally, Asset Dedication LLC increased its stake in Edison International by 37.5% during the second quarter. Asset Dedication LLC now owns 550 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 150 shares during the last quarter. 88.95% of the stock is currently owned by institutional investors and hedge funds.

Edison International Stock Performance

Shares of EIX traded down $0.89 during trading hours on Monday, reaching $78.91. 1,047,322 shares of the company’s stock traded hands, compared to its average volume of 1,482,484. The firm has a market capitalization of $30.55 billion, a price-to-earnings ratio of 23.14, a P/E/G ratio of 1.96 and a beta of 0.93. The business’s fifty day simple moving average is $82.76 and its two-hundred day simple moving average is $81.82. Edison International has a twelve month low of $63.15 and a twelve month 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.

Edison International (NYSE:EIX) last released its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.13. The company had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.01 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. Edison International’s revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.38 EPS. Analysts predict that Edison International will post 4.94 earnings per share for the current year.

Edison International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, January 7th will be given a $0.8275 dividend. This represents a $3.31 dividend on an annualized basis and a yield of 4.19%. This is an increase from Edison International’s previous quarterly dividend of $0.78. The ex-dividend date is Tuesday, January 7th. Edison International’s dividend payout ratio is 97.07%.

Insider Buying and Selling at Edison International

In other news, VP Adam S. Umanoff sold 25,619 shares of the company’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $83.05, for a total value of $2,127,657.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.03% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently commented on EIX shares. Morgan Stanley decreased their price target on shares of Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a report on Friday, November 22nd. Barclays upgraded Edison International from an “equal weight” rating to an “overweight” rating and decreased their target price for the company from $91.00 to $84.00 in a research note on Thursday. UBS Group dropped their price target on Edison International from $96.00 to $87.00 and set a “neutral” rating on the stock in a research report on Thursday, December 19th. Argus upped their price objective on Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Finally, Jefferies Financial Group started coverage on Edison International in a research report on Thursday, November 7th. They issued a “buy” rating and a $93.00 target price on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Edison International currently has an average rating of “Moderate Buy” and an average target price of $88.00.

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.