Edison International (NYSE:EIX) Shares Sold by Foster & Motley Inc.

Foster & Motley Inc. cut its stake in Edison International (NYSE:EIX) by 3.5% in the third quarter, Holdings Channel.com reports. The fund owned 92,205 shares of the utilities provider’s stock after selling 3,379 shares during the quarter. Foster & Motley Inc.’s holdings in Edison International were worth $8,030,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Highline Wealth Partners LLC purchased a new stake in shares of Edison International in the 3rd quarter valued at about $26,000. Ashton Thomas Private Wealth LLC purchased a new stake in Edison International in the second quarter valued at approximately $27,000. Eastern Bank acquired a new stake in shares of Edison International in the third quarter valued at approximately $27,000. Country Trust Bank purchased a new position in shares of Edison International during the second quarter worth approximately $29,000. Finally, Farmers & Merchants Investments Inc. increased its holdings in shares of Edison International by 53.8% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 140 shares during the period. Institutional investors and hedge funds own 88.95% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on EIX. Evercore ISI increased their price target on shares of Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 14th. Morgan Stanley increased their target price on shares of Edison International from $68.00 to $72.00 and gave the stock an “underweight” rating in a research note on Wednesday, September 25th. Barclays raised their price target on Edison International from $89.00 to $91.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. UBS Group upped their price objective on Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Finally, Guggenheim lifted their target price on Edison International from $80.00 to $83.00 and gave the company a “buy” rating in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $88.36.

Insiders Place Their Bets

In other news, VP Adam S. Umanoff sold 25,619 shares of Edison International stock in a transaction that occurred 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the company’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $83.05, for a total value of $2,127,657.95. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO J Andrew Murphy sold 23,896 shares of Edison International stock in a transaction on Monday, August 26th. The stock was sold at an average price of $85.45, for a total value of $2,041,913.20. Following the transaction, the chief executive officer now directly owns 19,850 shares of the company’s stock, valued at $1,696,182.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,877 shares of company stock worth $4,285,341. 1.20% of the stock is owned by company insiders.

Edison International Stock Up 0.0 %

EIX opened at $82.00 on Wednesday. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.88 and a quick ratio of 0.81. Edison International has a 12 month low of $62.21 and a 12 month high of $88.77. The stock has a market capitalization of $31.75 billion, a P/E ratio of 24.04, a P/E/G ratio of 1.88 and a beta of 0.92. The business has a 50 day simple moving average of $85.25 and a 200-day simple moving average of $79.06.

Edison International (NYSE:EIX) last released its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.13. Edison International had a return on equity of 13.17% and a net margin of 8.52%. The company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.01 billion. During the same quarter last year, the company earned $1.38 earnings per share. Edison International’s quarterly revenue was up 10.6% compared to the same quarter last year. On average, equities analysts anticipate that Edison International will post 4.94 earnings per share 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 issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date of this dividend was Monday, October 7th. Edison International’s dividend payout ratio is currently 91.50%.

Edison International 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.