Intech Investment Management LLC Purchases 8,537 Shares of Edison International (NYSE:EIX)

Intech Investment Management LLC raised its position in shares of Edison International (NYSE:EIX) by 18.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,800 shares of the utilities provider’s stock after buying an additional 8,537 shares during the quarter. Intech Investment Management LLC’s holdings in Edison International were worth $3,935,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. CreativeOne Wealth LLC purchased a new position in shares of Edison International in the first quarter valued at $230,000. Swedbank AB grew its stake in shares of Edison International by 76.3% in the 2nd quarter. Swedbank AB now owns 446,637 shares of the utilities provider’s stock worth $32,073,000 after buying an additional 193,307 shares in the last quarter. Brookstone Capital Management increased its holdings in shares of Edison International by 3,503.3% in the 1st quarter. Brookstone Capital Management now owns 135,341 shares of the utilities provider’s stock worth $9,573,000 after buying an additional 131,585 shares during the last quarter. United Services Automobile Association purchased a new stake in shares of Edison International during the 4th quarter valued at about $743,000. Finally, Sei Investments Co. lifted its holdings in shares of Edison International by 14.5% in the 1st quarter. Sei Investments Co. now owns 321,567 shares of the utilities provider’s stock valued at $22,744,000 after acquiring an additional 40,646 shares during the last quarter. Institutional investors own 88.95% of the company’s stock.

Edison International Trading Up 1.5 %

Shares of EIX opened at $85.43 on Friday. The firm has a market capitalization of $32.87 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 1-year low of $58.82 and a 1-year high of $88.77. The company has a 50-day moving average of $82.32 and a 200 day moving average of $75.52.

Edison International (NYSE:EIX) last posted its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.23 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $4.12 billion. During the same quarter in the previous year, the firm posted $1.01 earnings per share. The company’s revenue was up 9.4% on a year-over-year basis. On average, research analysts expect that Edison International will post 4.97 EPS for the current year.

Edison International Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. 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. Morgan Stanley boosted their target price on Edison International from $62.00 to $68.00 and gave the company an “underweight” rating in a research report on Friday, August 23rd. Wells Fargo & Company raised their price target on Edison International from $86.00 to $87.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Barclays boosted their price objective on shares of Edison International from $80.00 to $91.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 4th. Finally, Evercore ISI raised their target price on shares of Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $85.83.

Insider Activity

In related news, CEO J Andrew Murphy sold 28,995 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $78.43, for a total value of $2,274,077.85. Following the completion of the sale, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at $1,541,933.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO J Andrew Murphy sold 28,995 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $78.43, for a total value of $2,274,077.85. Following the completion of the sale, the chief executive officer now owns 19,660 shares in the company, valued at approximately $1,541,933.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Natalie K. Schilling sold 2,341 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $80.00, for a total transaction of $187,280.00. Following the completion of the sale, the vice president now directly owns 6,338 shares of the company’s stock, valued at approximately $507,040. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 89,099 shares of company stock worth $7,223,342. Company insiders own 1.03% of the company’s stock.

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.