Meiji Yasuda Asset Management Co Ltd. Has $13.78 Million Stock Position in Edison International (NYSE:EIX)

Meiji Yasuda Asset Management Co Ltd. lessened its holdings in Edison International (NYSE:EIX) by 1.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 191,944 shares of the utilities provider’s stock after selling 2,910 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Edison International were worth $13,783,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. CreativeOne Wealth LLC purchased a new stake in shares of Edison International in the first quarter worth approximately $230,000. Swedbank AB raised its stake in Edison International by 76.3% in the 2nd quarter. Swedbank AB now owns 446,637 shares of the utilities provider’s stock valued at $32,073,000 after acquiring an additional 193,307 shares during the period. Norges Bank bought a new position in Edison International during the fourth quarter worth about $210,327,000. Brookstone Capital Management increased its stake in shares of Edison International by 3,503.3% in the first quarter. Brookstone Capital Management now owns 135,341 shares of the utilities provider’s stock worth $9,573,000 after purchasing an additional 131,585 shares in the last quarter. Finally, Intech Investment Management LLC raised its position in shares of Edison International by 44.9% in the first quarter. Intech Investment Management LLC now owns 46,263 shares of the utilities provider’s stock valued at $3,272,000 after purchasing an additional 14,346 shares during the period. Institutional investors own 88.95% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on EIX. Wells Fargo & Company lifted their price objective on shares of Edison International from $86.00 to $87.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Royal Bank of Canada reissued an “outperform” rating and set a $94.00 price objective on shares of Edison International in a report on Monday. Guggenheim increased their price target on shares of Edison International from $80.00 to $83.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Barclays upped their target price on shares of Edison International from $80.00 to $91.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 4th. Finally, UBS Group upped their price target on shares of Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Edison International currently has a consensus rating of “Hold” and a consensus target price of $85.83.

Edison International Stock Down 0.2 %

Shares of NYSE EIX opened at $86.06 on Wednesday. The stock has a market capitalization of $33.11 billion, a P/E ratio of 37.75 and a beta of 0.91. 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 one year low of $58.82 and a one year high of $88.77. The firm’s 50 day simple moving average is $81.65 and its two-hundred day simple moving average is $75.21.

Edison International (NYSE:EIX) last announced its quarterly earnings data 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. The firm had revenue of $4.34 billion for 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%. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period last year, the firm earned $1.01 earnings per share. As a group, analysts expect that Edison International will post 4.96 EPS for the current fiscal year.

Edison International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Monday, July 8th were issued a dividend of $0.78 per share. The ex-dividend date was Monday, July 8th. This represents a $3.12 dividend on an annualized basis and a yield of 3.63%. Edison International’s dividend payout ratio is currently 136.84%.

Insiders Place Their Bets

In other news, CEO J Andrew Murphy sold 28,995 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $78.43, for a total transaction of $2,274,077.85. Following the completion of the transaction, the chief executive officer now directly owns 19,660 shares of the company’s stock, valued at $1,541,933.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, VP Natalie K. Schilling sold 2,341 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was 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 $507,040. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO J Andrew Murphy sold 28,995 shares of the business’s stock in a transaction on Friday, July 26th. The shares were 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 directly owns 19,660 shares in the company, valued at $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 valued at $7,223,342 in the last quarter. Insiders own 1.03% of the company’s stock.

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.