Visionary Horizons LLC Sells 365 Shares of Edison International (NYSE:EIX)

Visionary Horizons LLC reduced its stake in Edison International (NYSE:EIX) by 4.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,930 shares of the utilities provider’s stock after selling 365 shares during the quarter. Visionary Horizons LLC’s holdings in Edison International were worth $544,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of EIX. Able Wealth Management LLC purchased a new position in shares of Edison International during the fourth quarter valued at approximately $25,000. Bruce G. Allen Investments LLC bought a new stake in shares of Edison International during the fourth quarter valued at approximately $27,000. Global Trust Asset Management LLC bought a new position in Edison International in the first quarter worth approximately $28,000. WASHINGTON TRUST Co raised its stake in Edison International by 117.4% in the fourth quarter. WASHINGTON TRUST Co now owns 500 shares of the utilities provider’s stock worth $36,000 after buying an additional 270 shares in the last quarter. Finally, Northwest Financial Advisors bought a new position in Edison International in the fourth quarter worth approximately $40,000. 88.95% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on EIX. Mizuho boosted their price objective on shares of Edison International from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Wells Fargo & Company raised shares of Edison International from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $72.00 to $86.00 in a report on Tuesday, May 14th. Morgan Stanley cut their price target on shares of Edison International from $64.00 to $61.00 and set an “underweight” rating on the stock in a report on Monday. Royal Bank of Canada dropped their price objective on shares of Edison International from $81.00 to $80.00 and set an “outperform” rating on the stock in a report on Thursday, March 7th. Finally, The Goldman Sachs Group assumed coverage on shares of Edison International in a report on Wednesday, April 10th. They set a “neutral” rating and a $78.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $77.40.

Edison International Stock Performance

Edison International stock opened at $71.84 on Thursday. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.00 and a quick ratio of 0.93. The stock has a market cap of $27.64 billion, a price-to-earnings ratio of 31.51 and a beta of 0.95. The firm has a 50 day simple moving average of $73.26 and a 200-day simple moving average of $70.40. Edison International has a 1-year low of $58.82 and a 1-year high of $77.04.

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

Edison International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Monday, July 8th will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 4.34%. Edison International’s payout ratio is 136.84%.

Insider Activity

In other news, CEO J Andrew Murphy sold 9,794 shares of the firm’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $75.07, for a total value of $735,235.58. Following the sale, the chief executive officer now directly owns 19,660 shares in the company, valued at approximately $1,475,876.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 shares were sold at an average price of $75.77, for a total transaction of $758,003.08. Following the transaction, the senior vice president now directly owns 26,918 shares of the company’s stock, valued at approximately $2,039,576.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO J Andrew Murphy sold 9,794 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $75.07, for a total transaction of $735,235.58. Following the transaction, the chief executive officer now directly owns 19,660 shares in the company, valued at $1,475,876.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 77,897 shares of company stock worth $5,851,245. 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.