Ausbil Investment Management Ltd Sells 54,936 Shares of Edison International (NYSE:EIX)

Ausbil Investment Management Ltd reduced its holdings in shares of Edison International (NYSE:EIX) by 40.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 79,479 shares of the utilities provider’s stock after selling 54,936 shares during the period. Edison International comprises 2.0% of Ausbil Investment Management Ltd’s portfolio, making the stock its 17th biggest position. Ausbil Investment Management Ltd’s holdings in Edison International were worth $6,922,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Eastern Bank bought a new position in Edison International in the third quarter worth approximately $27,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Edison International in the second quarter valued at about $27,000. Country Trust Bank bought a new stake in shares of Edison International in the second quarter valued at about $29,000. Farmers & Merchants Investments Inc. lifted its stake in Edison International by 53.8% in the second quarter. Farmers & Merchants Investments Inc. now owns 400 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 140 shares during the period. Finally, OFI Invest Asset Management bought a new position in Edison International during the 2nd quarter worth about $32,000. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Stock Performance

Shares of EIX stock traded down $0.15 during trading hours on Thursday, reaching $85.85. 285,837 shares of the company’s stock were exchanged, compared to its average volume of 1,988,668. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.03 and a quick ratio of 0.96. Edison International has a 1 year low of $61.64 and a 1 year high of $88.77. The company has a market cap of $33.15 billion, a P/E ratio of 34.49, a price-to-earnings-growth ratio of 1.98 and a beta of 0.91. The company’s 50 day moving average is $85.47 and its two-hundred day moving average is $78.11.

Edison International (NYSE:EIX) last issued its earnings results on Thursday, July 25th. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.18. Edison International had a net margin of 6.60% and a return on equity of 13.01%. The company had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.12 billion. During the same period last year, the company posted $1.01 earnings per share. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. Equities research analysts anticipate that Edison International will post 4.97 EPS for the current fiscal year.

Edison International Announces Dividend

The business also recently declared 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 yield of 3.63%. The ex-dividend date is Monday, October 7th. Edison International’s payout ratio is 125.30%.

Analysts Set New Price Targets

Several brokerages have issued reports on EIX. Morgan Stanley increased their target price on Edison International from $68.00 to $72.00 and gave the company an “underweight” rating in a research report on Wednesday, September 25th. Bank of America began coverage on Edison International in a research note on Thursday, September 12th. They issued a “buy” rating and a $95.00 target price on the stock. Argus increased their price target on shares of Edison International from $82.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. Guggenheim raised their price target on shares of Edison International from $80.00 to $83.00 and gave the company a “buy” rating in a report on Friday, July 26th. Finally, UBS Group boosted their price objective 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. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $87.55.

Insider Activity

In other Edison International news, CEO J Andrew Murphy sold 1,362 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $85.00, for a total transaction of $115,770.00. Following the sale, the chief executive officer now directly owns 19,850 shares of the company’s stock, valued at $1,687,250. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Edison International news, CEO J Andrew Murphy sold 1,362 shares of Edison International stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $85.00, for a total value of $115,770.00. Following the completion of the sale, the chief executive officer now directly owns 19,850 shares of the company’s stock, valued at approximately $1,687,250. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Natalie K. Schilling sold 2,341 shares of Edison International stock in a transaction 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 directly owns 6,338 shares of the company’s stock, valued at approximately $507,040. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 89,099 shares of company stock worth $7,223,342 over the last three months. 1.03% of the stock is currently owned by corporate insiders.

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.