Edison International (NYSE:EIX) Shares Sold by Moors & Cabot Inc.

Moors & Cabot Inc. decreased its holdings in Edison International (NYSE:EIX) by 3.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,353 shares of the utilities provider’s stock after selling 179 shares during the period. Moors & Cabot Inc.’s holdings in Edison International were worth $466,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Darwin Wealth Management LLC purchased a new stake in shares of Edison International in the third quarter valued at approximately $35,000. Prospera Private Wealth LLC acquired a new position in Edison International during the third quarter worth $32,000. PNC Financial Services Group Inc. grew its holdings in Edison International by 6.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 53,577 shares of the utilities provider’s stock valued at $4,666,000 after buying an additional 3,311 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Edison International in the 3rd quarter worth $1,387,000. Finally, Fifth Third Wealth Advisors LLC increased its stake in shares of Edison International by 51.7% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 7,494 shares of the utilities provider’s stock worth $653,000 after acquiring an additional 2,554 shares during the last quarter. 88.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Adam S. Umanoff sold 25,619 shares of the business’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $83.05, for a total transaction of $2,127,657.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO J Andrew Murphy sold 23,896 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $85.45, for a total value of $2,041,913.20. Following the completion of the transaction, the chief executive officer now directly owns 19,850 shares in the company, valued at $1,696,182.50. This trade represents a 54.62 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 49,516 shares of company stock worth $4,169,652. 1.03% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Jefferies Financial Group assumed coverage on shares of Edison International in a report on Thursday, November 7th. They issued a “buy” rating and a $93.00 price objective for the company. Morgan Stanley cut their price target on shares of Edison International from $74.00 to $72.00 and set an “underweight” rating for the company in a report on Friday. UBS Group increased their price objective on Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. Evercore ISI raised their target price on Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 14th. Finally, Royal Bank of Canada upped their price target on Edison International from $94.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $88.75.

Edison International Trading Down 0.7 %

NYSE EIX opened at $86.51 on Friday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.81 and a current ratio of 0.88. The firm has a market cap of $33.49 billion, a price-to-earnings ratio of 25.37, a PEG ratio of 2.05 and a beta of 0.92. The firm has a 50 day simple moving average of $84.64 and a 200-day simple moving average of $80.08. Edison International has a one year low of $63.15 and a one year high of $88.77.

Edison International (NYSE:EIX) last issued its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $1.51 EPS for the quarter, beating 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 last year, the company posted $1.38 EPS. The firm’s revenue was up 10.6% compared to the same quarter last year. Equities research analysts anticipate that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, October 7th were given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date of this dividend was Monday, October 7th. Edison International’s dividend payout ratio is currently 91.50%.

About Edison International

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.