Charles Schwab Investment Management Inc. Buys 28,240 Shares of Edison International (NYSE:EIX)

Charles Schwab Investment Management Inc. increased its stake in shares of Edison International (NYSE:EIX) by 1.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,340,116 shares of the utilities provider’s stock after purchasing an additional 28,240 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Edison International were worth $203,801,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Lake Street Advisors Group LLC lifted its holdings in Edison International by 4.3% during the 3rd quarter. Lake Street Advisors Group LLC now owns 3,015 shares of the utilities provider’s stock worth $263,000 after buying an additional 124 shares in the last quarter. Baker Tilly Wealth Management LLC lifted its stake in shares of Edison International by 2.8% during the third quarter. Baker Tilly Wealth Management LLC now owns 4,779 shares of the utilities provider’s stock valued at $416,000 after acquiring an additional 129 shares during the period. SFE Investment Counsel boosted its holdings in Edison International by 0.3% in the third quarter. SFE Investment Counsel now owns 42,730 shares of the utilities provider’s stock valued at $3,721,000 after acquiring an additional 130 shares during the last quarter. Equitable Trust Co. increased its position in Edison International by 0.9% in the second quarter. Equitable Trust Co. now owns 15,424 shares of the utilities provider’s stock worth $1,108,000 after purchasing an additional 132 shares during the period. Finally, TIAA Trust National Association raised its holdings in Edison International by 2.0% during the 2nd quarter. TIAA Trust National Association now owns 6,723 shares of the utilities provider’s stock worth $483,000 after purchasing an additional 134 shares during the last quarter. Institutional investors and hedge funds 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 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO J Andrew Murphy sold 23,896 shares of Edison International stock in a transaction on Monday, August 26th. The shares were sold at an average price of $85.45, for a total transaction of $2,041,913.20. Following the completion of the sale, the chief executive officer now owns 19,850 shares in the company, valued at $1,696,182.50. The trade was a 54.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 49,516 shares of company stock valued at $4,169,652 in the last quarter. 1.03% of the stock is currently owned by insiders.

Edison International Stock Down 0.7 %

Edison International stock opened at $86.48 on Friday. The company has a 50 day moving average of $84.64 and a 200-day moving average of $80.13. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 1.96. Edison International has a twelve month low of $63.15 and a twelve month high of $88.77. The stock has a market capitalization of $33.48 billion, a PE ratio of 25.36, a price-to-earnings-growth ratio of 2.08 and a beta of 0.92.

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, topping analysts’ consensus estimates 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 analyst estimates of $5.01 billion. During the same period in the prior year, the business earned $1.38 EPS. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. On average, equities research analysts anticipate that Edison International will post 4.95 EPS for the current fiscal year.

Edison International Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on EIX shares. Evercore ISI boosted their price target on shares of Edison International from $82.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 14th. Jefferies Financial Group initiated coverage on Edison International in a research note on Thursday, November 7th. They issued a “buy” rating and a $93.00 price target on the stock. Barclays upped their price objective on Edison International from $89.00 to $91.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Wells Fargo & Company raised their target price on Edison International from $87.00 to $94.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, Bank of America initiated coverage on Edison International in a research note on Thursday, September 12th. They issued a “buy” rating and a $95.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Edison International has an average 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.