Bard Financial Services Inc. Sells 290 Shares of Edison International (NYSE:EIX)

Bard Financial Services Inc. cut its holdings in Edison International (NYSE:EIX) by 2.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,300 shares of the utilities provider’s stock after selling 290 shares during the quarter. Bard Financial Services Inc.’s holdings in Edison International were worth $984,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Highline Wealth Partners LLC purchased a new position in shares of Edison International in the 3rd quarter valued at $26,000. Groupama Asset Managment grew its position in shares of Edison International by 0.8% in the 3rd quarter. Groupama Asset Managment now owns 29,911 shares of the utilities provider’s stock worth $26,000 after buying an additional 237 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in Edison International during the second quarter valued at approximately $27,000. Eastern Bank acquired a new position in shares of Edison International during the third quarter worth $27,000. Finally, Farmers & Merchants Investments Inc. increased its position 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 buying an additional 140 shares in the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Insider Buying and Selling

In other Edison International news, VP Adam S. Umanoff sold 25,619 shares of the business’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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.20% of the stock is currently owned by company insiders.

Edison International Price Performance

EIX stock opened at $82.78 on Wednesday. The business’s fifty day moving average price is $84.67 and its 200 day moving average price is $80.99. Edison International has a 12-month low of $63.15 and a 12-month high of $88.77. The company has a current ratio of 0.88, a quick ratio of 0.81 and a debt-to-equity ratio of 1.96. The company has a market capitalization of $32.05 billion, a PE ratio of 24.28, a P/E/G ratio of 2.01 and a beta of 0.92.

Edison International (NYSE:EIX) last posted its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, topping the consensus estimate of $1.38 by $0.13. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The company had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.01 billion. During the same quarter in the previous year, the business posted $1.38 EPS. The firm’s revenue was up 10.6% on a year-over-year basis. On average, sell-side analysts anticipate that Edison International will post 4.95 EPS for the current 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 paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date of this dividend was Monday, October 7th. Edison International’s payout ratio is currently 91.50%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on EIX shares. Barclays lifted their target price on shares of Edison International from $89.00 to $91.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Argus lifted their price target on Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. UBS Group increased their price target on Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. Jefferies Financial Group began coverage on Edison International in a research report on Thursday, November 7th. They set a “buy” rating and a $93.00 target price on the stock. Finally, Wells Fargo & Company boosted their price target on shares of Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Edison International currently has an average rating of “Moderate Buy” and an average price target of $88.75.

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.