Massachusetts Financial Services Co. MA Sells 93,537 Shares of Edison International (NYSE:EIX)

Massachusetts Financial Services Co. MA trimmed its holdings in shares of Edison International (NYSE:EIX) by 1.8% in the third quarter, HoldingsChannel reports. The institutional investor owned 5,083,123 shares of the utilities provider’s stock after selling 93,537 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Edison International were worth $442,689,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the stock. Highline Wealth Partners LLC bought a new position in shares of Edison International in the 3rd quarter valued at about $26,000. Eastern Bank bought a new position in shares of Edison International in the third quarter valued at $27,000. Prospera Private Wealth LLC acquired a new position in Edison International during the third quarter worth $32,000. Ashton Thomas Private Wealth LLC bought a new stake in Edison International during the second quarter worth $27,000. Finally, Concord Wealth Partners lifted its stake in Edison International by 277.0% in the third quarter. Concord Wealth Partners now owns 377 shares of the utilities provider’s stock valued at $33,000 after acquiring an additional 277 shares during the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

Insider Transactions at Edison International

In other news, CEO J Andrew Murphy sold 23,896 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 19,850 shares of the company’s stock, valued at approximately $1,696,182.50. This represents a 54.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Adam S. Umanoff sold 25,619 shares of the company’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $83.05, for a total transaction of $2,127,657.95. The disclosure for this sale can be found here. In the last three months, insiders sold 49,516 shares of company stock worth $4,169,652. 1.03% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on EIX shares. Morgan Stanley boosted their target price on Edison International from $68.00 to $72.00 and gave the stock an “underweight” rating in a report on Wednesday, September 25th. Bank of America started coverage on Edison International in a research note on Thursday, September 12th. They set a “buy” rating and a $95.00 target price for the company. Guggenheim lifted their target price on shares of Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. UBS Group lifted their target price on shares of Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. Finally, Royal Bank of Canada lifted their target price on Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $88.75.

Edison International Stock Up 0.9 %

Edison International stock opened at $86.87 on Friday. The stock has a market cap of $33.63 billion, a PE ratio of 25.48, a price-to-earnings-growth ratio of 2.05 and a beta of 0.92. Edison International has a fifty-two week low of $63.15 and a fifty-two week high of $88.77. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. The firm’s 50-day simple moving average is $84.61 and its 200 day simple moving average is $79.99.

Edison International (NYSE:EIX) last announced its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.13. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The business had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.01 billion. During the same period in the prior year, the company earned $1.38 earnings per share. Edison International’s revenue was up 10.6% compared to the same quarter last year. Research analysts predict that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, October 7th were given a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 3.59%. The ex-dividend date of this dividend was Monday, October 7th. Edison International’s dividend payout ratio (DPR) is 91.50%.

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.