FARMERS & MERCHANTS TRUST Co OF LONG BEACH Reduces Position in Edison International (NYSE:EIX)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH lessened its position in shares of Edison International (NYSE:EIX) by 7.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,307 shares of the utilities provider’s stock after selling 700 shares during the quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Edison International were worth $597,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Capital Research Global Investors grew its stake in Edison International by 1.7% during the 1st quarter. Capital Research Global Investors now owns 20,344,752 shares of the utilities provider’s stock worth $1,438,984,000 after buying an additional 345,189 shares during the last quarter. Pzena Investment Management LLC grew its stake in shares of Edison International by 2.3% in the 1st quarter. Pzena Investment Management LLC now owns 13,605,080 shares of the utilities provider’s stock valued at $962,287,000 after purchasing an additional 305,459 shares during the last quarter. Capital International Investors grew its stake in shares of Edison International by 6.4% in the 1st quarter. Capital International Investors now owns 13,297,917 shares of the utilities provider’s stock valued at $940,562,000 after purchasing an additional 795,950 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Edison International by 4.4% in the 4th quarter. Wellington Management Group LLP now owns 10,276,016 shares of the utilities provider’s stock valued at $734,632,000 after purchasing an additional 433,845 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Edison International by 4.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,261,803 shares of the utilities provider’s stock valued at $376,166,000 after purchasing an additional 202,541 shares during the last quarter. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Edison International Stock Performance

Shares of EIX stock opened at $86.09 on Tuesday. The stock has a fifty day moving average price of $80.04 and a 200 day moving average price of $74.46. The stock has a market cap of $33.25 billion, a PE ratio of 37.76 and a beta of 0.91. Edison International has a 1 year low of $58.82 and a 1 year high of $88.77. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.96 and a current ratio of 1.03.

Edison International (NYSE:EIX) last issued its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.18. The firm had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.12 billion. Edison International had a return on equity of 13.01% and a net margin of 6.60%. Edison International’s revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.01 earnings per share. Sell-side analysts forecast that Edison International will post 4.96 earnings per share for the current fiscal year.

Edison International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Monday, July 8th were paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date was Monday, July 8th. Edison International’s dividend payout ratio is presently 136.84%.

Insiders Place Their Bets

In other Edison International news, CEO J Andrew Murphy sold 28,995 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $78.43, for a total transaction of $2,274,077.85. Following the transaction, the chief executive officer now owns 19,660 shares in the company, valued at $1,541,933.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, VP Natalie K. Schilling sold 2,341 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $80.00, for a total value of $187,280.00. Following the transaction, the vice president now owns 6,338 shares in the company, valued at $507,040. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO J Andrew Murphy sold 28,995 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $78.43, for a total value of $2,274,077.85. Following the completion of the transaction, the chief executive officer now owns 19,660 shares in the company, valued at approximately $1,541,933.80. The disclosure for this sale can be found here. Insiders have sold a total of 89,099 shares of company stock worth $7,223,342 over the last quarter. 1.03% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

EIX has been the topic of several analyst reports. UBS Group lifted their target price on Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Argus lifted their target price on Edison International from $78.00 to $82.00 and gave the company a “buy” rating in a research note on Wednesday, June 12th. 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. Barclays lifted their target price on Edison International from $80.00 to $91.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 4th. Finally, Morgan Stanley raised their price target on Edison International from $62.00 to $68.00 and gave the company an “underweight” rating in a report on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $82.36.

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.