Edison International (NYSE:EIX) Shares Sold by Amalgamated Bank

Amalgamated Bank lowered its position in Edison International (NYSE:EIX) by 1.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 77,769 shares of the utilities provider’s stock after selling 1,282 shares during the quarter. Amalgamated Bank’s holdings in Edison International were worth $5,585,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Gladstone Institutional Advisory LLC raised its stake in Edison International by 17.2% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 4,499 shares of the utilities provider’s stock valued at $322,000 after acquiring an additional 661 shares in the last quarter. D.A. Davidson & CO. increased its holdings in shares of Edison International by 2.0% during the fourth quarter. D.A. Davidson & CO. now owns 37,955 shares of the utilities provider’s stock valued at $2,713,000 after purchasing an additional 726 shares during the period. Corient Private Wealth LLC raised its stake in shares of Edison International by 0.3% during the fourth quarter. Corient Private Wealth LLC now owns 61,247 shares of the utilities provider’s stock valued at $4,379,000 after purchasing an additional 175 shares in the last quarter. Ontario Teachers Pension Plan Board acquired a new stake in Edison International in the fourth quarter worth about $433,000. Finally, US Bancorp DE grew its position in Edison International by 7.3% in the 4th quarter. US Bancorp DE now owns 70,061 shares of the utilities provider’s stock valued at $5,009,000 after buying an additional 4,740 shares in the last quarter. Institutional investors own 88.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Morgan Stanley boosted their price target on shares of Edison International from $62.00 to $68.00 and gave the stock an “underweight” rating in a research report on Friday, August 23rd. Barclays boosted their target price on Edison International from $80.00 to $91.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 4th. UBS Group increased their price target on Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Guggenheim boosted their price objective on Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $94.00 target price on shares of Edison International in a research note on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $85.83.

Edison International Stock Performance

Shares of EIX opened at $85.43 on Friday. The company has a 50-day moving average of $82.32 and a two-hundred day moving average of $75.47. The stock has a market cap of $32.99 billion, a price-to-earnings ratio of 37.47, a PEG ratio of 1.99 and a beta of 0.91. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.03 and a quick ratio of 0.96. Edison International has a one year low of $58.82 and a one year high of $88.77.

Edison International (NYSE:EIX) last posted its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.18. Edison International had a net margin of 6.60% and a return on equity of 13.01%. The firm had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.12 billion. During the same quarter last year, the business posted $1.01 EPS. The company’s revenue was up 9.4% on a year-over-year basis. On average, equities research analysts expect that Edison International will post 4.97 earnings per share for the current year.

Edison International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Monday, July 8th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 3.65%. The ex-dividend date of this dividend was Monday, July 8th. Edison International’s payout ratio is 136.84%.

Insider Buying and Selling

In other Edison International news, CEO J Andrew Murphy sold 1,362 shares of Edison International stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $85.00, for a total transaction of $115,770.00. Following the transaction, the chief executive officer now owns 19,850 shares of the company’s stock, valued at approximately $1,687,250. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, VP Natalie K. Schilling sold 2,341 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $80.00, for a total transaction of $187,280.00. Following the completion of the sale, the vice president now directly owns 6,338 shares in the company, valued at $507,040. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO J Andrew Murphy sold 1,362 shares of Edison International stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $85.00, for a total value of $115,770.00. Following the sale, the chief executive officer now directly owns 19,850 shares of the company’s stock, valued at approximately $1,687,250. The disclosure for this sale can be found here. In the last ninety days, insiders sold 89,099 shares of company stock valued at $7,223,342. Corporate insiders own 1.03% of the company’s stock.

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.