Presima Securities ULC Buys 200 Shares of Edison International (NYSE:EIX)

Presima Securities ULC lifted its stake in Edison International (NYSE:EIX) by 2.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,950 shares of the utilities provider’s stock after buying an additional 200 shares during the period. Presima Securities ULC’s holdings in Edison International were worth $779,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ashton Thomas Private Wealth LLC acquired a new position in Edison International during the second quarter worth $27,000. Global Trust Asset Management LLC acquired a new stake in shares of Edison International during the 1st quarter worth about $28,000. Country Trust Bank acquired a new stake in shares of Edison International during the 2nd quarter worth about $29,000. Farmers & Merchants Investments Inc. lifted its holdings in Edison International by 53.8% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 140 shares during the last quarter. Finally, OFI Invest Asset Management acquired a new position in Edison International in the second quarter valued at about $32,000. Institutional investors own 88.95% of the company’s stock.

Edison International Price Performance

Shares of EIX stock opened at $85.97 on Thursday. The firm has a market cap of $33.08 billion, a price-to-earnings ratio of 37.70, a PEG ratio of 1.92 and a beta of 0.91. Edison International has a 12 month low of $61.64 and a 12 month high of $88.77. The company has a quick ratio of 0.96, a current ratio of 1.03 and a debt-to-equity ratio of 2.04. The stock has a 50-day moving average price of $85.18 and a 200 day moving average price of $77.58.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Thursday, July 25th. The utilities provider reported $1.23 EPS for the quarter, topping the consensus estimate of $1.05 by $0.18. The company had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.12 billion. Edison International had a net margin of 6.60% and a return on equity of 13.01%. Edison International’s revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.01 EPS. Research analysts expect that Edison International will post 4.97 EPS for the current year.

Edison International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, October 7th will be given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.63%. The ex-dividend date is Monday, October 7th. Edison International’s payout ratio is 136.84%.

Insider Activity

In related news, 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 transaction of $2,041,913.20. Following the completion of the sale, the chief executive officer now directly owns 19,850 shares of the company’s stock, valued at $1,696,182.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Edison International news, VP Natalie K. Schilling sold 2,341 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were 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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO J Andrew Murphy sold 23,896 shares of the stock in a transaction 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 in the company, valued at approximately $1,696,182.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 89,099 shares of company stock valued at $7,223,342 in the last 90 days. 1.03% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on EIX. Royal Bank of Canada raised their price objective on shares of Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Wells Fargo & Company lifted 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. Argus boosted their price objective on Edison International from $82.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Guggenheim raised 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. Finally, Barclays cut their price target on Edison International from $91.00 to $89.00 and set an “equal weight” rating for the company in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Edison International has an average rating of “Hold” and a consensus target price of $86.50.

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.