Impax Asset Management Group plc Trims Stock Holdings in Edison International (NYSE:EIX)

Impax Asset Management Group plc lessened its position in shares of Edison International (NYSE:EIX) by 17.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 100,483 shares of the utilities provider’s stock after selling 21,332 shares during the quarter. Impax Asset Management Group plc’s holdings in Edison International were worth $8,751,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Highline Wealth Partners LLC purchased a new stake in Edison International in the third quarter valued at approximately $26,000. Ashton Thomas Private Wealth LLC purchased a new position in Edison International during the 2nd quarter worth approximately $27,000. Eastern Bank acquired a new stake in Edison International during the 3rd quarter valued at approximately $27,000. Country Trust Bank purchased a new stake in shares of Edison International in the 2nd quarter valued at $29,000. Finally, Farmers & Merchants Investments Inc. increased its stake in shares of 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. 88.95% of the stock is owned by institutional investors and hedge funds.

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 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 document filed with the SEC, which can be accessed through this link. In other news, VP Adam S. Umanoff sold 25,619 shares of the firm’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $83.05, for a total value of $2,127,657.95. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO J Andrew Murphy sold 1,362 shares of the company’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 approximately $1,687,250. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 50,877 shares of company stock worth $4,285,341. Corporate insiders own 1.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on EIX. Bank of America assumed coverage on shares of Edison International in a research report on Thursday, September 12th. They set a “buy” rating and a $95.00 target price for the company. Guggenheim boosted their price objective on Edison International from $80.00 to $83.00 and gave the company a “buy” rating in a report on Friday, July 26th. UBS Group raised their target price on Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. Wells Fargo & Company boosted their price target on Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, 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 research note on Friday, October 4th. One investment 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, the company currently has an average rating of “Moderate Buy” and a consensus price target of $88.36.

Edison International Trading Up 1.2 %

Shares of NYSE:EIX opened at $81.97 on Wednesday. The business’s 50 day moving average price is $85.25 and its 200-day moving average price is $79.06. Edison International has a 1 year low of $62.21 and a 1 year high of $88.77. The firm has a market capitalization of $31.73 billion, a price-to-earnings ratio of 24.04, a price-to-earnings-growth ratio of 1.89 and a beta of 0.92. 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 (NYSE:EIX) last posted its quarterly earnings data on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.13. The business had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.01 billion. Edison International had a net margin of 8.52% and a return on equity of 13.17%. The company’s revenue was up 10.6% compared to the same quarter last year. During the same period last year, the firm posted $1.38 earnings per share. On average, equities research analysts forecast that Edison International will post 4.94 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 7th were paid a dividend of $0.78 per share. The ex-dividend date was Monday, October 7th. This represents a $3.12 annualized dividend and a yield of 3.81%. Edison International’s dividend payout ratio (DPR) is currently 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.