Ausbil Investment Management Ltd Boosts Stake in Edison International (NYSE:EIX)

Ausbil Investment Management Ltd increased its holdings in Edison International (NYSE:EIX) by 4.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 141,644 shares of the utilities provider’s stock after purchasing an additional 6,545 shares during the quarter. Edison International makes up 5.0% of Ausbil Investment Management Ltd’s investment portfolio, making the stock its 5th biggest holding. Ausbil Investment Management Ltd’s holdings in Edison International were worth $9,977,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of EIX. Axxcess Wealth Management LLC raised its holdings in shares of Edison International by 2.6% during the third quarter. Axxcess Wealth Management LLC now owns 6,461 shares of the utilities provider’s stock valued at $409,000 after purchasing an additional 164 shares during the period. Gibraltar Capital Management Inc. raised its holdings in shares of Edison International by 1.5% during the fourth quarter. Gibraltar Capital Management Inc. now owns 11,599 shares of the utilities provider’s stock valued at $829,000 after purchasing an additional 174 shares during the period. Corient Private Wealth LLC raised its holdings in shares of Edison International by 0.3% during the fourth quarter. Corient Private Wealth LLC now owns 61,247 shares of the utilities provider’s stock valued at $4,379,000 after purchasing an additional 175 shares during the period. Presima Securities ULC raised its holdings in shares of Edison International by 2.4% during the fourth quarter. Presima Securities ULC now owns 8,650 shares of the utilities provider’s stock valued at $618,000 after purchasing an additional 200 shares during the period. Finally, ERTS Wealth Advisors LLC raised its holdings in shares of Edison International by 5.4% during the fourth quarter. ERTS Wealth Advisors LLC now owns 4,023 shares of the utilities provider’s stock valued at $288,000 after purchasing an additional 207 shares during the period. Institutional investors own 88.95% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on EIX shares. Royal Bank of Canada dropped their price objective on shares of Edison International from $81.00 to $80.00 and set an “outperform” rating on the stock in a report on Thursday, March 7th. The Goldman Sachs Group assumed coverage on shares of Edison International in a report on Wednesday, April 10th. They set a “neutral” rating and a $78.00 price objective on the stock. Barclays upped their target price on shares of Edison International from $72.00 to $75.00 and gave the stock an “equal weight” rating in a report on Thursday, May 2nd. Wells Fargo & Company upgraded shares of Edison International from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $72.00 to $86.00 in a report on Tuesday, May 14th. Finally, Argus upped their target price on shares of Edison International from $78.00 to $82.00 and gave the stock a “buy” rating in a report on Wednesday, June 12th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $77.40.

Edison International Stock Down 0.3 %

EIX stock traded down $0.19 during trading on Friday, reaching $71.85. The stock had a trading volume of 54,610 shares, compared to its average volume of 2,037,205. Edison International has a one year low of $58.82 and a one year high of $77.04. The company has a quick ratio of 0.93, a current ratio of 1.00 and a debt-to-equity ratio of 2.04. The company’s 50 day moving average is $73.34 and its two-hundred day moving average is $70.41. The company has a market capitalization of $27.64 billion, a price-to-earnings ratio of 31.60 and a beta of 0.95.

Edison International (NYSE:EIX) last issued its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.01. Edison International had a net margin of 6.14% and a return on equity of 12.48%. The business had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.16 billion. During the same period in the prior year, the firm posted $1.09 EPS. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. Equities research analysts forecast that Edison International will post 4.92 EPS for the current year.

Edison International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Monday, July 8th will be given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 4.34%. The ex-dividend date is Monday, July 8th. Edison International’s dividend payout ratio is currently 136.84%.

Insider Activity

In other news, SVP Caroline Choi sold 10,004 shares of the stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $75.77, for a total transaction of $758,003.08. Following the completion of the transaction, the senior vice president now directly owns 26,918 shares of the company’s stock, valued at approximately $2,039,576.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO J Andrew Murphy sold 58,099 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $75.01, for a total transaction of $4,358,005.99. Following the sale, the chief executive officer now directly owns 19,660 shares in the company, valued at approximately $1,474,696.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Caroline Choi sold 10,004 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $75.77, for a total transaction of $758,003.08. Following the sale, the senior vice president now owns 26,918 shares in the company, valued at $2,039,576.86. The disclosure for this sale can be found here. Insiders sold 77,897 shares of company stock valued at $5,851,245 in the last three months. Company 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.