Global Trust Asset Management LLC Buys New Position in Edison International (NYSE:EIX)

Global Trust Asset Management LLC bought a new stake in shares of Edison International (NYSE:EIX) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 400 shares of the utilities provider’s stock, valued at approximately $28,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Able Wealth Management LLC acquired a new position in shares of Edison International in the fourth quarter valued at about $25,000. Bruce G. Allen Investments LLC acquired a new position in shares of Edison International in the fourth quarter valued at about $27,000. WASHINGTON TRUST Co increased its holdings in shares of Edison International by 117.4% in the fourth quarter. WASHINGTON TRUST Co now owns 500 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 270 shares during the period. Northwest Financial Advisors acquired a new position in shares of Edison International in the fourth quarter valued at about $40,000. Finally, GAMMA Investing LLC acquired a new stake in Edison International during the fourth quarter worth about $48,000. 88.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on the company. Argus raised their target price on Edison International from $78.00 to $82.00 and gave the stock a “buy” rating in a report on Wednesday, June 12th. Mizuho raised their target price on Edison International from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Morgan Stanley lowered their price target on Edison International from $64.00 to $61.00 and set an “underweight” rating on the stock in a research report on Monday. Barclays increased their price target on Edison International from $72.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 2nd. Finally, Royal Bank of Canada lowered their price target on Edison International from $81.00 to $80.00 and set an “outperform” rating on the stock in a research report on Thursday, March 7th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $77.40.

Insiders Place Their Bets

In other Edison International news, SVP Caroline Choi sold 10,004 shares of the firm’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $75.77, for a total transaction of $758,003.08. Following the completion of the sale, the senior vice president now owns 26,918 shares of the company’s stock, valued at $2,039,576.86. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, SVP Caroline Choi sold 10,004 shares of Edison International stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $75.77, for a total value of $758,003.08. Following the completion of the sale, the senior vice president now directly owns 26,918 shares of the company’s stock, valued at $2,039,576.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO J Andrew Murphy sold 58,099 shares of Edison International stock in a transaction on Friday, May 10th. The shares were sold at an average price of $75.01, for a total value of $4,358,005.99. Following the completion of the sale, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at $1,474,696.60. The disclosure for this sale can be found here. Insiders sold a total of 77,897 shares of company stock valued at $5,851,245 over the last quarter. 1.20% of the stock is owned by insiders.

Edison International Stock Performance

Shares of Edison International stock opened at $72.76 on Tuesday. Edison International has a one year low of $58.82 and a one year high of $77.04. The company has a market cap of $27.99 billion, a price-to-earnings ratio of 31.91 and a beta of 0.95. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.93 and a current ratio of 1.00. The business’s 50 day moving average price is $73.16 and its 200 day moving average price is $70.37.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.01. The firm had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $4.16 billion. Edison International had a return on equity of 12.48% and a net margin of 6.14%. The firm’s revenue was up 2.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.09 earnings per share. On average, research analysts predict that Edison International will post 4.92 EPS for the current year.

About Edison International

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.