Crossmark Global Holdings Inc. Grows Stock Position in Edison International (NYSE:EIX)

Crossmark Global Holdings Inc. lifted its stake in Edison International (NYSE:EIX) by 1.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,579 shares of the utilities provider’s stock after buying an additional 350 shares during the period. Crossmark Global Holdings Inc.’s holdings in Edison International were worth $1,563,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Lake Street Advisors Group LLC increased its holdings in shares of Edison International by 4.3% in the third quarter. Lake Street Advisors Group LLC now owns 3,015 shares of the utilities provider’s stock worth $263,000 after buying an additional 124 shares during the period. Baker Tilly Wealth Management LLC increased its holdings in shares of Edison International by 2.8% in the third quarter. Baker Tilly Wealth Management LLC now owns 4,779 shares of the utilities provider’s stock worth $416,000 after buying an additional 129 shares during the period. SFE Investment Counsel increased its holdings in shares of 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 buying an additional 130 shares during the period. Assetmark Inc. increased its holdings in shares of Edison International by 32.9% in the third quarter. Assetmark Inc. now owns 634 shares of the utilities provider’s stock worth $55,000 after buying an additional 157 shares during the period. Finally, Dynamic Advisor Solutions LLC increased its holdings in shares of Edison International by 2.1% in the third quarter. Dynamic Advisor Solutions LLC now owns 7,697 shares of the utilities provider’s stock worth $670,000 after buying an additional 159 shares during the period. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on EIX. Wells Fargo & Company boosted their price target on Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Barclays reduced their price target on Edison International from $76.00 to $67.00 and set an “overweight” rating on the stock in a report on Thursday. UBS Group reduced their price target on Edison International from $87.00 to $69.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. LADENBURG THALM/SH SH upgraded Edison International from a “sell” rating to a “neutral” rating and set a $56.50 price target on the stock in a report on Wednesday, January 15th. Finally, Guggenheim downgraded Edison International from a “buy” rating to a “neutral” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $82.88.

Insider Activity at Edison International

In related news, VP Adam S. Umanoff sold 25,619 shares of the company’s stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.03% of the stock is currently owned by insiders.

Edison International Stock Performance

Shares of EIX opened at $57.10 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. The business’s 50 day moving average price is $78.19 and its 200-day moving average price is $81.12. Edison International has a 52 week low of $55.27 and a 52 week high of $88.77. The stock has a market cap of $22.11 billion, a P/E ratio of 16.75, a P/E/G ratio of 1.28 and a beta of 0.93.

Edison International (NYSE:EIX) last issued 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. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The firm had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.01 billion. During the same period in the previous year, the firm posted $1.38 EPS. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. Equities research analysts anticipate that Edison International will post 4.94 earnings per share for the current fiscal year.

Edison International Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, January 7th will be given a $0.8275 dividend. This is a boost from Edison International’s previous quarterly dividend of $0.78. This represents a $3.31 dividend on an annualized basis and a dividend yield of 5.80%. The ex-dividend date of this dividend is Tuesday, January 7th. Edison International’s payout ratio is currently 97.07%.

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.