Vaughan David Investments LLC IL Has $408,000 Position in Edison International (NYSE:EIX)

Vaughan David Investments LLC IL boosted its stake in shares of Edison International (NYSE:EIX) by 5.0% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,762 shares of the utilities provider’s stock after purchasing an additional 272 shares during the period. Vaughan David Investments LLC IL’s holdings in Edison International were worth $408,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Lake Street Advisors Group LLC acquired a new position in shares of Edison International in the first quarter worth $204,000. Bessemer Group Inc. increased its position in Edison International by 4.4% in the 1st quarter. Bessemer Group Inc. now owns 11,091 shares of the utilities provider’s stock worth $784,000 after purchasing an additional 469 shares during the last quarter. UniSuper Management Pty Ltd raised its stake in shares of Edison International by 394.7% during the 1st quarter. UniSuper Management Pty Ltd now owns 18,229 shares of the utilities provider’s stock worth $1,289,000 after purchasing an additional 14,544 shares in the last quarter. O Shaughnessy Asset Management LLC raised its stake in shares of Edison International by 88.5% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 19,265 shares of the utilities provider’s stock worth $1,363,000 after purchasing an additional 9,044 shares in the last quarter. Finally, Ameritas Investment Partners Inc. lifted its holdings in shares of Edison International by 165.5% during the 1st quarter. Ameritas Investment Partners Inc. now owns 11,309 shares of the utilities provider’s stock valued at $800,000 after buying an additional 7,050 shares during the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Edison International Stock Performance

EIX stock traded up $0.93 during trading on Wednesday, reaching $76.04. 1,305,865 shares of the stock were exchanged, compared to its average volume of 2,010,642. The company has a market capitalization of $29.26 billion, a P/E ratio of 33.35 and a beta of 0.91. The company has a current ratio of 1.00, a quick ratio of 0.93 and a debt-to-equity ratio of 2.04. Edison International has a twelve month low of $58.82 and a twelve month high of $77.04. The stock has a 50 day simple moving average of $73.76 and a 200-day simple moving average of $70.80.

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

Edison International Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Monday, July 8th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 4.10%. Edison International’s payout ratio is presently 136.84%.

Insider Buying and Selling

In other Edison International news, SVP Caroline Choi sold 10,004 shares of the company’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $75.77, for a total value of $758,003.08. Following the sale, the senior vice president now directly owns 26,918 shares in the company, valued at $2,039,576.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO J Andrew Murphy sold 58,099 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $75.01, for a total transaction of $4,358,005.99. Following the completion of the sale, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at approximately $1,474,696.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Caroline Choi sold 10,004 shares of the business’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $75.77, for a total value of $758,003.08. Following the completion of the transaction, the senior vice president now directly owns 26,918 shares in the company, valued at approximately $2,039,576.86. The disclosure for this sale can be found here. Insiders sold 77,897 shares of company stock worth $5,851,245 in the last 90 days. 1.03% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have commented on the stock. The Goldman Sachs Group initiated coverage on shares of Edison International in a research report on Wednesday, April 10th. They set a “neutral” rating and a $78.00 target price on the stock. UBS Group downgraded Edison International from a “buy” rating to a “neutral” rating and cut their price objective for the company from $83.00 to $82.00 in a research note on Friday, July 19th. Barclays upped their target price on Edison International from $72.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 2nd. 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. Finally, Argus raised their target price on shares of Edison International from $78.00 to $82.00 and gave the company a “buy” rating in a research note on Wednesday, June 12th. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $77.82.

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.