RB Capital Management LLC Makes New $245,000 Investment in Edison International (NYSE:EIX)

RB Capital Management LLC bought a new position in Edison International (NYSE:EIX) in the 3rd quarter, Holdings Channel.com reports. The firm bought 2,816 shares of the utilities provider’s stock, valued at approximately $245,000.

Several other hedge funds and other institutional investors have also made changes to their positions in EIX. Lake Street Advisors Group LLC raised its holdings in Edison International by 4.3% during the third quarter. Lake Street Advisors Group LLC now owns 3,015 shares of the utilities provider’s stock worth $263,000 after purchasing an additional 124 shares in the last quarter. Baker Tilly Wealth Management LLC increased its position in Edison International by 2.8% during the 3rd quarter. Baker Tilly Wealth Management LLC now owns 4,779 shares of the utilities provider’s stock worth $416,000 after purchasing an additional 129 shares during the period. SFE Investment Counsel increased its position in Edison International by 0.3% during the 3rd quarter. SFE Investment Counsel now owns 42,730 shares of the utilities provider’s stock worth $3,721,000 after purchasing an additional 130 shares during the period. Equitable Trust Co. raised its stake in shares of Edison International by 0.9% during the 2nd quarter. Equitable Trust Co. now owns 15,424 shares of the utilities provider’s stock worth $1,108,000 after buying an additional 132 shares in the last quarter. Finally, TIAA Trust National Association lifted its holdings in shares of Edison International by 2.0% in the 2nd quarter. TIAA Trust National Association now owns 6,723 shares of the utilities provider’s stock valued at $483,000 after buying an additional 134 shares during the period. Hedge funds and other institutional investors own 88.95% of the company’s stock.

Insiders Place Their Bets

In related news, VP Adam S. Umanoff sold 25,619 shares of the stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $83.05, for a total transaction of $2,127,657.95. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.20% of the stock is owned by corporate insiders.

Edison International Stock Performance

NYSE EIX opened at $83.05 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. The stock has a market cap of $32.15 billion, a price-to-earnings ratio of 24.35, a price-to-earnings-growth ratio of 2.01 and a beta of 0.92. Edison International has a fifty-two week low of $63.15 and a fifty-two week high of $88.77. The business has a fifty day moving average of $84.67 and a 200-day moving average of $80.99.

Edison International (NYSE:EIX) last announced its earnings results on Tuesday, October 29th. The utilities provider reported $1.51 earnings per share 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 firm had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.01 billion. During the same quarter in the previous year, the company posted $1.38 EPS. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. As a group, analysts predict that Edison International will post 4.95 earnings per share for the current fiscal year.

Edison International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, October 7th were given a dividend of $0.78 per share. The ex-dividend date was Monday, October 7th. This represents a $3.12 dividend on an annualized basis and a yield of 3.76%. Edison International’s dividend payout ratio (DPR) is currently 91.50%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Evercore ISI increased their price objective on Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 14th. UBS Group increased their price target on shares of Edison International from $86.00 to $89.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. Royal Bank of Canada boosted their price objective on shares of Edison International from $94.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Morgan Stanley lowered their target price on shares of Edison International from $74.00 to $72.00 and set an “underweight” rating on the stock in a research report on Friday, November 22nd. Finally, Wells Fargo & Company lifted their price target on shares of Edison International from $87.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Edison International presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.75.

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.