Profund Advisors LLC Boosts Stock Position in Edison International (NYSE:EIX)

Profund Advisors LLC grew its holdings in Edison International (NYSE:EIX) by 48.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,246 shares of the utilities provider’s stock after purchasing an additional 6,934 shares during the period. Profund Advisors LLC’s holdings in Edison International were worth $1,526,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Corient Private Wealth LLC lifted its holdings in Edison International by 0.3% during the 4th quarter. Corient Private Wealth LLC now owns 61,247 shares of the utilities provider’s stock valued at $4,379,000 after buying an additional 175 shares in the last quarter. Ontario Teachers Pension Plan Board bought a new stake in shares of Edison International during the fourth quarter valued at approximately $433,000. US Bancorp DE boosted its holdings in shares of Edison International by 7.3% in the fourth quarter. US Bancorp DE now owns 70,061 shares of the utilities provider’s stock valued at $5,009,000 after purchasing an additional 4,740 shares during the period. Advisory Services Network LLC purchased a new stake in shares of Edison International in the fourth quarter valued at approximately $193,000. Finally, Hsbc Holdings PLC grew its stake in Edison International by 39.5% in the fourth quarter. Hsbc Holdings PLC now owns 1,719,916 shares of the utilities provider’s stock worth $122,914,000 after purchasing an additional 486,808 shares in the last quarter. 88.95% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on EIX shares. UBS Group lifted their target price on Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. Guggenheim lifted their price objective on Edison International from $80.00 to $83.00 and gave the company a “buy” rating in a report on Friday, July 26th. Barclays increased their target price on shares of Edison International from $80.00 to $91.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 4th. Bank of America initiated coverage on shares of Edison International in a report on Thursday, September 12th. They issued a “buy” rating and a $95.00 price target for the company. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $94.00 price objective 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 issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $85.83.

Edison International Price Performance

NYSE EIX opened at $86.08 on Tuesday. The firm’s fifty day simple moving average is $82.58 and its two-hundred day simple moving average is $75.70. The firm has a market capitalization of $33.12 billion, a P/E ratio of 37.75, a P/E/G ratio of 1.99 and a beta of 0.91. The company has a current ratio of 1.03, a quick ratio of 0.96 and a debt-to-equity ratio of 2.04. Edison International has a 12-month low of $58.82 and a 12-month high of $88.77.

Edison International (NYSE:EIX) last announced its earnings results on Thursday, July 25th. The utilities provider reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.18. Edison International had a return on equity of 13.01% and a net margin of 6.60%. The firm had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.12 billion. During the same period in the previous year, the business earned $1.01 EPS. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. Analysts forecast that Edison International will post 4.97 EPS for the current fiscal year.

Edison International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Monday, July 8th were given a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.62%. The ex-dividend date of this dividend was Monday, July 8th. Edison International’s payout ratio is currently 136.84%.

Insider Buying and Selling

In other Edison International news, CEO J Andrew Murphy sold 23,896 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $85.45, for a total transaction of $2,041,913.20. Following the transaction, the chief executive officer now owns 19,850 shares in the company, valued at approximately $1,696,182.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Edison International news, CEO J Andrew Murphy sold 23,896 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $85.45, for a total transaction of $2,041,913.20. Following the sale, the chief executive officer now owns 19,850 shares in the company, valued at approximately $1,696,182.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Natalie K. Schilling sold 2,341 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total value of $187,280.00. Following the completion of the transaction, the vice president now directly owns 6,338 shares in the company, valued at $507,040. The disclosure for this sale can be found here. Insiders sold 89,099 shares of company stock worth $7,223,342 in the last three months. Corporate insiders own 1.03% of the company’s stock.

Edison International 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.