Edison International (NYSE:EIX) is Carson Advisory Inc.’s 6th Largest Position

Carson Advisory Inc. grew its holdings in shares of Edison International (NYSE:EIX) by 0.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 54,625 shares of the utilities provider’s stock after purchasing an additional 152 shares during the period. Edison International makes up approximately 2.7% of Carson Advisory Inc.’s holdings, making the stock its 6th largest position. Carson Advisory Inc.’s holdings in Edison International were worth $3,864,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Capital Research Global Investors increased its holdings in shares of Edison International by 23.0% in the 4th quarter. Capital Research Global Investors now owns 19,999,563 shares of the utilities provider’s stock worth $1,429,769,000 after purchasing an additional 3,734,550 shares in the last quarter. Pzena Investment Management LLC raised its position in Edison International by 2.3% in the 1st quarter. Pzena Investment Management LLC now owns 13,605,080 shares of the utilities provider’s stock worth $962,287,000 after buying an additional 305,459 shares during the last quarter. Wellington Management Group LLP raised its position in Edison International by 4.4% in the 4th quarter. Wellington Management Group LLP now owns 10,276,016 shares of the utilities provider’s stock worth $734,632,000 after buying an additional 433,845 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Edison International by 4.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,261,803 shares of the utilities provider’s stock valued at $376,166,000 after acquiring an additional 202,541 shares during the period. Finally, Deutsche Bank AG boosted its holdings in shares of Edison International by 266.3% during the 3rd quarter. Deutsche Bank AG now owns 4,309,133 shares of the utilities provider’s stock valued at $272,725,000 after acquiring an additional 3,132,877 shares during the last quarter. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO J Andrew Murphy sold 58,099 shares of the company’s 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 transaction, the chief executive officer now owns 19,660 shares of the company’s stock, valued at approximately $1,474,696.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO J Andrew Murphy sold 58,099 shares of the company’s 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 transaction, the chief executive officer now owns 19,660 shares of the company’s stock, valued at approximately $1,474,696.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Caroline Choi sold 10,004 shares of the stock in a transaction dated 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 disclosure for this sale can be found here. In the last quarter, insiders sold 77,897 shares of company stock valued at $5,851,245. Company insiders own 1.20% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Argus increased their price objective on shares of Edison International from $78.00 to $82.00 and gave the company a “buy” rating in a research report on Wednesday, June 12th. Barclays boosted their target price on shares of Edison International from $72.00 to $75.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. Mizuho boosted their target price on shares of Edison International from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Wells Fargo & Company upgraded shares of Edison International from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $72.00 to $86.00 in a research note on Tuesday, May 14th. Finally, Morgan Stanley decreased their target price on shares of Edison International from $64.00 to $61.00 and set an “underweight” rating for the company in a research note on Monday, June 24th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $77.40.

Edison International Stock Performance

Shares of NYSE:EIX traded up $0.86 during midday trading on Wednesday, hitting $72.39. The company had a trading volume of 1,038,421 shares, compared to its average volume of 2,038,626. 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 company has a market cap of $27.85 billion, a price-to-earnings ratio of 31.37 and a beta of 0.91. Edison International has a 12-month low of $58.82 and a 12-month high of $77.04. The company has a fifty day moving average of $73.57 and a two-hundred day moving average of $70.57.

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

Edison International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Monday, July 8th will be issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 4.31%. The ex-dividend date of this dividend is Monday, July 8th. Edison International’s dividend payout ratio is currently 136.84%.

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.