Bank of Stockton Sells 251 Shares of Edison International (NYSE:EIX)

Bank of Stockton lowered its holdings in shares of Edison International (NYSE:EIX) by 5.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 4,749 shares of the utilities provider’s stock after selling 251 shares during the period. Bank of Stockton’s holdings in Edison International were worth $414,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of EIX. Capital Research Global Investors increased its holdings in Edison International by 1.7% in the first quarter. Capital Research Global Investors now owns 20,344,752 shares of the utilities provider’s stock valued at $1,438,984,000 after purchasing an additional 345,189 shares during the period. Pzena Investment Management LLC increased its stake in shares of Edison International by 2.3% in the first quarter. Pzena Investment Management LLC now owns 13,605,080 shares of the utilities provider’s stock valued at $962,287,000 after buying an additional 305,459 shares during the period. Capital International Investors increased its stake in shares of Edison International by 6.4% in the first quarter. Capital International Investors now owns 13,297,917 shares of the utilities provider’s stock valued at $940,562,000 after buying an additional 795,950 shares during the period. Clearbridge Investments LLC raised its position in shares of Edison International by 0.5% during the second quarter. Clearbridge Investments LLC now owns 5,015,988 shares of the utilities provider’s stock worth $360,198,000 after acquiring an additional 24,834 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of Edison International by 1.8% in the second quarter. American Century Companies Inc. now owns 3,864,399 shares of the utilities provider’s stock worth $277,503,000 after acquiring an additional 67,089 shares during the period. Institutional investors own 88.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on EIX. Barclays decreased their target price on shares of Edison International from $91.00 to $89.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 15th. Wells Fargo & Company upped 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. UBS Group lifted their target price on shares of Edison International from $86.00 to $89.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. Bank of America initiated coverage on shares of Edison International in a report on Thursday, September 12th. They issued a “buy” rating and a $95.00 target price on the stock. Finally, Evercore ISI increased their price target on Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $87.55.

Edison International Stock Down 0.5 %

Shares of EIX stock traded down $0.41 on Friday, reaching $85.21. 156,817 shares of the company were exchanged, compared to its average volume of 1,983,589. Edison International has a one year low of $61.64 and a one year high of $88.77. The company has a market cap of $32.91 billion, a price-to-earnings ratio of 34.38, a PEG ratio of 1.98 and a beta of 0.91. The company has a 50-day moving average of $85.47 and a 200-day moving average of $78.11. 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 (NYSE:EIX) last announced its quarterly earnings data on Thursday, July 25th. The utilities provider reported $1.23 EPS for the quarter, beating analysts’ consensus estimates 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%. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.01 earnings per share. Analysts anticipate that Edison International will post 4.97 earnings per share for the current year.

Edison International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, October 7th will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date of this dividend is Monday, October 7th. Edison International’s dividend payout ratio is currently 125.30%.

Insider Activity at Edison International

In other Edison International news, VP Natalie K. Schilling sold 2,341 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total transaction of $187,280.00. Following the transaction, the vice president now owns 6,338 shares in the company, valued at approximately $507,040. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, VP Natalie K. Schilling sold 2,341 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $80.00, for a total transaction of $187,280.00. Following the completion of the sale, the vice president now directly owns 6,338 shares of the company’s stock, valued at $507,040. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO J Andrew Murphy sold 32,505 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $80.12, for a total transaction of $2,604,300.60. Following the completion of the sale, the chief executive officer now owns 19,660 shares in the company, valued at $1,575,159.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 60,104 shares of company stock valued at $4,949,264. 1.03% of the stock is owned by company insiders.

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.