KCM Investment Advisors LLC Lowers Holdings in Edison International (NYSE:EIX)

KCM Investment Advisors LLC reduced its stake in shares of Edison International (NYSE:EIX) by 1.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 141,268 shares of the utilities provider’s stock after selling 1,770 shares during the period. KCM Investment Advisors LLC’s holdings in Edison International were worth $10,144,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. CreativeOne Wealth LLC acquired a new position in shares of Edison International in the 1st quarter valued at $230,000. Kentucky Retirement Systems Insurance Trust Fund boosted its holdings in Edison International by 4.2% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 13,655 shares of the utilities provider’s stock valued at $976,000 after acquiring an additional 551 shares during the last quarter. Jump Financial LLC purchased a new stake in Edison International during the fourth quarter valued at about $1,215,000. Avantax Advisory Services Inc. increased its stake in Edison International by 73.2% during the fourth quarter. Avantax Advisory Services Inc. now owns 21,114 shares of the utilities provider’s stock worth $1,509,000 after acquiring an additional 8,922 shares during the last quarter. Finally, Swedbank AB increased its stake in Edison International by 76.3% during the second quarter. Swedbank AB now owns 446,637 shares of the utilities provider’s stock worth $32,073,000 after acquiring an additional 193,307 shares during the last quarter. 88.95% of the stock is owned by institutional investors and hedge funds.

Edison International Stock Up 0.6 %

Edison International stock traded up $0.53 during midday trading on Friday, hitting $87.03. 3,531,662 shares of the stock were exchanged, compared to its average volume of 1,996,064. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.03 and a quick ratio of 0.96. The company has a 50 day moving average price of $77.91 and a two-hundred day moving average price of $73.33. The firm has a market cap of $33.49 billion, a P/E ratio of 38.17 and a beta of 0.91. Edison International has a 1 year low of $58.82 and a 1 year high of $87.49.

Edison International (NYSE:EIX) last announced its earnings results on Thursday, July 25th. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.18. The business had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.12 billion. Edison International had a return on equity of 13.01% and a net margin of 6.60%. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.01 earnings per share. On average, sell-side analysts predict that Edison International will post 4.94 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Monday, July 8th were paid a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.58%. The ex-dividend date of this dividend was Monday, July 8th. Edison International’s dividend payout ratio (DPR) is currently 136.84%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on EIX shares. Morgan Stanley lifted their price objective on Edison International from $62.00 to $68.00 and gave the company an “underweight” rating in a research note on Friday, August 23rd. Mizuho lifted their price target on shares of Edison International from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Guggenheim increased their price objective on shares of Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. UBS Group lowered shares of Edison International from a “buy” rating to a “neutral” rating and reduced their target price for the company from $83.00 to $82.00 in a report on Friday, July 19th. Finally, Evercore ISI upped their price target on shares of Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $80.73.

Insider Transactions at Edison International

In related news, VP Natalie K. Schilling sold 2,341 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total value of $187,280.00. Following the sale, the vice president now directly owns 6,338 shares of the company’s stock, valued at $507,040. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Edison International news, CEO J Andrew Murphy sold 32,505 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $80.12, for a total transaction of $2,604,300.60. Following the sale, the chief executive officer now owns 19,660 shares in the company, valued at $1,575,159.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Natalie K. Schilling sold 2,341 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $80.00, for a total value of $187,280.00. Following the transaction, the vice president now directly owns 6,338 shares in the company, valued at approximately $507,040. The disclosure for this sale can be found here. Over the last quarter, insiders sold 99,103 shares of company stock valued at $7,981,345. 1.03% of the stock is currently owned by corporate 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.