KWB Wealth Has $1.08 Million Position in Edison International (NYSE:EIX)

KWB Wealth trimmed its position in shares of Edison International (NYSE:EIX) by 1.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,264 shares of the utilities provider’s stock after selling 162 shares during the quarter. KWB Wealth’s holdings in Edison International were worth $1,080,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. Able Wealth Management LLC purchased a new position in shares of Edison International in the 4th quarter worth about $25,000. Bruce G. Allen Investments LLC purchased a new position in shares of Edison International in the 4th quarter worth about $27,000. Global Trust Asset Management LLC purchased a new position in shares of Edison International in the 1st quarter worth about $28,000. WASHINGTON TRUST Co boosted its holdings in shares of Edison International by 117.4% in the 4th quarter. WASHINGTON TRUST Co now owns 500 shares of the utilities provider’s stock worth $36,000 after buying an additional 270 shares during the last quarter. Finally, Northwest Financial Advisors purchased a new position in shares of Edison International in the 4th quarter worth about $40,000. 88.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Edison International in a report on Wednesday, April 10th. They issued a “neutral” rating and a $78.00 price target on the stock. Morgan Stanley cut their price target on shares of Edison International from $64.00 to $61.00 and set an “underweight” rating on the stock in a report on Monday, June 24th. Mizuho boosted their price objective on Edison International from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Argus boosted their price objective on Edison International from $78.00 to $82.00 and gave the company a “buy” rating in a research note on Wednesday, June 12th. Finally, Barclays boosted their price objective on Edison International from $72.00 to $75.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $77.40.

Edison International Price Performance

Shares of EIX traded up $0.19 during midday trading on Thursday, hitting $71.82. 875,262 shares of the company traded hands, compared to its average volume of 1,622,918. The stock has a 50-day moving average of $73.50 and a 200-day moving average of $70.49. Edison International has a one year low of $58.82 and a one year high of $77.04. The firm has a market cap of $27.63 billion, a P/E ratio of 31.50 and a beta of 0.91. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.00 and a quick ratio of 0.93.

Edison International (NYSE:EIX) last announced its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.01. Edison International had a return on equity of 12.48% and a net margin of 6.14%. The firm had revenue of $4.08 billion for the quarter, compared to analysts’ expectations of $4.16 billion. During the same period in the prior year, the business posted $1.09 earnings per share. The company’s revenue was up 2.8% on a year-over-year basis. As a group, sell-side analysts predict that Edison International will post 4.92 EPS for the current fiscal year.

Edison International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Monday, July 8th will be given a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 4.34%. The ex-dividend date is Monday, July 8th. Edison International’s dividend payout ratio (DPR) is 136.84%.

Insider Buying and Selling

In related news, 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 value of $758,003.08. Following the transaction, the senior vice president now directly owns 26,918 shares in the company, valued at $2,039,576.86. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Edison International news, CEO J Andrew Murphy sold 9,794 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $75.07, for a total value of $735,235.58. Following the completion of the sale, the chief executive officer now owns 19,660 shares of the company’s stock, valued at $1,475,876.20. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 stock was sold at an average price of $75.77, for a total value of $758,003.08. Following the completion of the sale, the senior vice president now directly owns 26,918 shares of the company’s stock, valued at approximately $2,039,576.86. The disclosure for this sale can be found here. Over the last three months, insiders have sold 77,897 shares of company stock worth $5,851,245. Insiders own 1.20% of the company’s stock.

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.