Insider Selling: Edison International (NYSE:EIX) VP Sells 2,341 Shares of Stock

Edison International (NYSE:EIX) VP Natalie K. Schilling sold 2,341 shares of the business’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 value of $187,280.00. Following the completion of the sale, the vice president now owns 6,338 shares of the company’s stock, valued at approximately $507,040. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Edison International Price Performance

Shares of NYSE:EIX traded up $1.41 during trading on Thursday, hitting $81.42. 599,629 shares of the company’s stock were exchanged, compared to its average volume of 2,021,326. The business’s 50-day simple moving average is $73.99 and its 200 day simple moving average is $71.02. Edison International has a 52-week low of $58.82 and a 52-week high of $81.62. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.03 and a quick ratio of 0.96. The company has a market cap of $31.33 billion, a price-to-earnings ratio of 35.09 and a beta of 0.91.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.18. Edison International had a return on equity of 13.01% and a net margin of 6.60%. The company had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.12 billion. During the same quarter in the prior year, the business posted $1.01 earnings per share. Edison International’s revenue for the quarter was up 9.4% on a year-over-year basis. As a group, equities analysts predict that Edison International will post 4.92 EPS for the current year.

Edison International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Monday, July 8th were issued a $0.78 dividend. The ex-dividend date of this dividend was Monday, July 8th. This represents a $3.12 dividend on an annualized basis and a yield of 3.83%. Edison International’s dividend payout ratio (DPR) is presently 136.84%.

Institutional Trading of Edison International

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Capital Research Global Investors increased its position in 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 valued at $1,429,769,000 after acquiring an additional 3,734,550 shares during the period. Norges Bank acquired a new stake in shares of Edison International during the 4th quarter worth $210,327,000. M&G Plc acquired a new stake in shares of Edison International during the 1st quarter worth $85,436,000. Capital International Investors increased its holdings in Edison International by 6.4% in the 1st quarter. Capital International Investors now owns 13,297,917 shares of the utilities provider’s stock valued at $940,562,000 after purchasing an additional 795,950 shares in the last quarter. Finally, Morningstar Investment Services LLC increased its holdings in Edison International by 98.1% in the 4th quarter. Morningstar Investment Services LLC now owns 1,347,664 shares of the utilities provider’s stock valued at $96,492,000 after purchasing an additional 667,273 shares in the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on EIX shares. UBS Group downgraded Edison International from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $83.00 to $82.00 in a research report on Friday, July 19th. Guggenheim boosted their target price on Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Argus boosted their target price on Edison International from $78.00 to $82.00 and gave the stock a “buy” rating in a research report on Wednesday, June 12th. The Goldman Sachs Group assumed coverage on Edison International in a research report on Wednesday, April 10th. They issued a “neutral” rating and a $78.00 target price for the company. Finally, Wells Fargo & Company boosted their price objective on Edison International from $86.00 to $87.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Edison International presently has an average rating of “Hold” and a consensus price target of $78.27.

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.